Blue Trust Inc. Buys 1,329 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Blue Trust Inc. grew its stake in Veracyte, Inc. (NASDAQ:VCYT) by 2,331.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,386 shares of the biotechnology company’s stock after buying an additional 1,329 shares during the period. Blue Trust Inc.’s holdings in Veracyte were worth $31,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Diversified Trust Co grew its stake in shares of Veracyte by 22.7% during the 2nd quarter. Diversified Trust Co now owns 28,060 shares of the biotechnology company’s stock valued at $608,000 after acquiring an additional 5,200 shares during the period. SG Americas Securities LLC lifted its holdings in Veracyte by 37.4% during the second quarter. SG Americas Securities LLC now owns 8,703 shares of the biotechnology company’s stock valued at $189,000 after purchasing an additional 2,367 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in Veracyte by 3.2% during the second quarter. QRG Capital Management Inc. now owns 129,416 shares of the biotechnology company’s stock valued at $2,804,000 after purchasing an additional 4,015 shares in the last quarter. CWM LLC boosted its position in shares of Veracyte by 168.3% in the second quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 951 shares during the period. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Veracyte by 604.2% in the second quarter. Harbor Capital Advisors Inc. now owns 62,686 shares of the biotechnology company’s stock worth $1,358,000 after purchasing an additional 53,784 shares in the last quarter.

Veracyte Price Performance

Shares of VCYT opened at $32.00 on Friday. The firm has a market cap of $2.45 billion, a P/E ratio of -34.04 and a beta of 1.65. Veracyte, Inc. has a 1 year low of $18.61 and a 1 year high of $33.33. The company has a 50 day simple moving average of $24.76 and a two-hundred day simple moving average of $22.83.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.10. The firm had revenue of $114.43 million during the quarter, compared to analyst estimates of $100.27 million. Veracyte had a negative net margin of 13.52% and a positive return on equity of 1.52%. Veracyte’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.12) earnings per share. On average, sell-side analysts anticipate that Veracyte, Inc. will post 0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

VCYT has been the topic of a number of analyst reports. Needham & Company LLC lifted their target price on shares of Veracyte from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Morgan Stanley raised their price target on Veracyte from $21.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, August 12th. One research 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’s stock. According to MarketBeat, Veracyte presently has an average rating of “Moderate Buy” and a consensus price target of $29.75.

Insider Activity

In related news, Director Muna Bhanji sold 3,870 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $20.32, for a total value of $78,638.40. Following the sale, the director now directly owns 23,105 shares in the company, valued at $469,493.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Evan/ Fa Jones sold 20,457 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $32.20, for a total value of $658,715.40. Following the completion of the sale, the director now directly owns 34,343 shares in the company, valued at $1,105,844.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Muna Bhanji sold 3,870 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $20.32, for a total transaction of $78,638.40. Following the completion of the sale, the director now owns 23,105 shares of the company’s stock, valued at approximately $469,493.60. The disclosure for this sale can be found here. Insiders sold a total of 43,175 shares of company stock worth $1,217,514 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

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.