Veracyte, Inc. (NASDAQ:VCYT) Stake Increased by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 7.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 3,347,436 shares of the biotechnology company’s stock after purchasing an additional 242,760 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Veracyte were worth $74,179,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of VCYT. Allspring Global Investments Holdings LLC increased its holdings in shares of Veracyte by 9.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,325 shares of the biotechnology company’s stock valued at $207,000 after purchasing an additional 778 shares during the period. Diversified Trust Co increased its stake in Veracyte by 54.4% in the 1st quarter. Diversified Trust Co now owns 22,860 shares of the biotechnology company’s stock valued at $507,000 after buying an additional 8,050 shares during the period. Los Angeles Capital Management LLC lifted its position in Veracyte by 117.7% in the 1st quarter. Los Angeles Capital Management LLC now owns 20,910 shares of the biotechnology company’s stock worth $463,000 after buying an additional 11,303 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Veracyte by 27.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,323 shares of the biotechnology company’s stock valued at $201,000 after buying an additional 1,571 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Veracyte by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 7,118,211 shares of the biotechnology company’s stock valued at $195,822,000 after acquiring an additional 52,699 shares in the last quarter.

Insider Buying and Selling at Veracyte

In other news, Director Muna Bhanji sold 1,539 shares of the business’s 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 sale, the director now directly owns 26,975 shares in the company, valued at $566,475. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Veracyte news, Director Karin Eastham sold 2,500 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $20.97, for a total transaction of $52,425.00. Following the completion of the sale, the director now directly owns 33,125 shares in the company, valued at $694,631.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Muna Bhanji sold 1,539 shares of Veracyte stock in a transaction dated Tuesday, May 28th. The stock was 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 in the company, valued at $566,475. The disclosure for this sale can be found here. Insiders have sold a total of 7,909 shares of company stock worth $163,382 over the last 90 days. Insiders own 1.30% of the company’s stock.

Veracyte Trading Up 1.0 %

Shares of NASDAQ:VCYT opened at $21.47 on Friday. Veracyte, Inc. has a 1 year low of $18.61 and a 1 year high of $30.52. The firm has a fifty day moving average price of $21.41 and a 200 day moving average price of $23.08.

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

Wall Street Analyst Weigh In

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

About Veracyte

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.