Veracyte, Inc. (NASDAQ:VCYT) Stake Lifted by Vanguard Group Inc.

Vanguard Group Inc. boosted its stake in Veracyte, Inc. (NASDAQ:VCYT) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,118,211 shares of the biotechnology company’s stock after buying an additional 52,699 shares during the period. Vanguard Group Inc. owned 0.10% of Veracyte worth $195,822,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Parkman Healthcare Partners LLC grew its position in shares of Veracyte by 5.1% during the fourth quarter. Parkman Healthcare Partners LLC now owns 237,316 shares of the biotechnology company’s stock worth $6,529,000 after acquiring an additional 11,444 shares during the last quarter. Granahan Investment Management LLC boosted its stake in Veracyte by 32.1% during the 4th quarter. Granahan Investment Management LLC now owns 503,898 shares of the biotechnology company’s stock valued at $13,862,000 after purchasing an additional 122,574 shares during the period. Seven Eight Capital LP bought a new position in Veracyte in the 4th quarter worth about $1,118,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Veracyte in the fourth quarter valued at approximately $2,715,000. Finally, Commerce Bank raised its holdings in shares of Veracyte by 25.1% during the fourth quarter. Commerce Bank now owns 13,785 shares of the biotechnology company’s stock valued at $379,000 after buying an additional 2,770 shares during the last quarter.

Veracyte Price Performance

NASDAQ VCYT opened at $21.26 on Wednesday. Veracyte, Inc. has a 12 month low of $18.61 and a 12 month high of $30.52. The firm has a market capitalization of $1.63 billion, a PE ratio of -22.62 and a beta of 1.65. The company’s 50 day simple moving average is $21.34 and its 200 day simple moving average is $23.10.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.17. The company had revenue of $96.84 million for the quarter, compared to analysts’ expectations of $93.35 million. Veracyte had a negative return on equity of 1.42% and a negative net margin of 18.16%. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period last year, the firm earned ($0.11) EPS. Sell-side analysts anticipate that Veracyte, Inc. will post -0.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Veracyte news, Director Muna Bhanji sold 1,539 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $21.00, for a total value of $32,319.00. Following the completion of the sale, the director now directly owns 26,975 shares of the company’s stock, valued at approximately $566,475. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Karin Eastham sold 2,500 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $20.97, for a total transaction of $52,425.00. Following the sale, the director now directly owns 33,125 shares of the company’s stock, valued at $694,631.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Muna Bhanji sold 1,539 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $21.00, for a total value of $32,319.00. Following the completion of the transaction, the director now owns 26,975 shares of the company’s stock, valued at approximately $566,475. The disclosure for this sale can be found here. Insiders have sold a total of 7,909 shares of company stock valued at $163,382 over the last three months. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on VCYT shares. Needham & Company LLC decreased their price objective on Veracyte from $33.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. The Goldman Sachs Group decreased their price target on Veracyte from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.50.

Veracyte Profile

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.