Veracyte, Inc. (NASDAQ:VCYT) Shares Bought by Inspire Investing LLC

Inspire Investing LLC increased its stake in Veracyte, Inc. (NASDAQ:VCYT) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,462 shares of the biotechnology company’s stock after purchasing an additional 340 shares during the quarter. Inspire Investing LLC’s holdings in Veracyte were worth $357,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. CANADA LIFE ASSURANCE Co raised its position in shares of Veracyte by 6.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 8,198 shares of the biotechnology company’s stock worth $182,000 after buying an additional 530 shares in the last quarter. Arizona State Retirement System raised its holdings in Veracyte by 3.7% during the second quarter. Arizona State Retirement System now owns 20,806 shares of the biotechnology company’s stock worth $451,000 after purchasing an additional 733 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Veracyte by 9.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 9,325 shares of the biotechnology company’s stock worth $207,000 after purchasing an additional 778 shares during the period. CWM LLC boosted its stake in Veracyte by 168.3% during the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 951 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Veracyte by 5.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,823 shares of the biotechnology company’s stock valued at $473,000 after purchasing an additional 1,173 shares during the period.

Wall Street Analysts Forecast Growth

VCYT has been the subject of several research reports. Needham & Company LLC raised their target price on Veracyte from $31.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Morgan Stanley upped their price target on shares of Veracyte from $21.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Veracyte currently has an average rating of “Moderate Buy” and an average target price of $31.25.

Veracyte Stock Down 1.2 %

VCYT opened at $34.83 on Friday. The firm has a market cap of $2.68 billion, a PE ratio of -37.05 and a beta of 1.66. The business has a fifty day simple moving average of $28.68 and a 200-day simple moving average of $23.85. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $35.51.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.10. The business had revenue of $114.43 million during the quarter, compared to analyst estimates of $100.27 million. Veracyte had a positive return on equity of 1.52% and a negative net margin of 13.52%. Veracyte’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.12) EPS. On average, equities research analysts anticipate that Veracyte, Inc. will post 0.16 EPS for the current fiscal year.

Insider Transactions at Veracyte

In related news, Director Evan/ Fa Jones sold 20,457 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 owns 34,343 shares in the company, valued at approximately $1,105,844.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Veracyte news, insider John Leite sold 1,277 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $25.00, for a total transaction of $31,925.00. Following the completion of the sale, the insider now directly owns 82,968 shares in the company, valued at approximately $2,074,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Evan/ Fa Jones sold 20,457 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $32.20, for a total value of $658,715.40. Following the completion of the transaction, the director now owns 34,343 shares in the company, valued at approximately $1,105,844.60. The disclosure for this sale can be found here. Insiders have sold a total of 40,745 shares of company stock valued at $1,217,296 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Veracyte Company 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.