Diversified Trust Co reduced its position in shares of Veracyte, Inc. (NASDAQ:VCYT – Free Report) by 47.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,049 shares of the biotechnology company’s stock after selling 15,612 shares during the period. Diversified Trust Co’s holdings in Veracyte were worth $675,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of VCYT. Nordea Investment Management AB raised its holdings in Veracyte by 4.4% in the 4th quarter. Nordea Investment Management AB now owns 261,214 shares of the biotechnology company’s stock valued at $10,415,000 after acquiring an additional 11,078 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in Veracyte in the third quarter valued at $9,498,000. Synovus Financial Corp lifted its position in Veracyte by 16.2% during the third quarter. Synovus Financial Corp now owns 22,865 shares of the biotechnology company’s stock worth $778,000 after buying an additional 3,195 shares during the period. Neo Ivy Capital Management purchased a new position in Veracyte during the third quarter worth about $820,000. Finally, Geode Capital Management LLC boosted its stake in Veracyte by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,844,713 shares of the biotechnology company’s stock worth $62,806,000 after buying an additional 17,921 shares during the last quarter.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the company. Morgan Stanley upped their price target on Veracyte from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Monday, November 18th. Needham & Company LLC raised their price target on shares of Veracyte from $37.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Guggenheim began coverage on shares of Veracyte in a research note on Thursday, October 10th. They set a “buy” rating and a $40.00 price objective for the company. Leerink Partners lifted their target price on shares of Veracyte from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Wolfe Research started coverage on Veracyte in a report on Friday, November 15th. They issued an “outperform” rating and a $50.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.13.
Insider Activity at Veracyte
In related news, insider John Leite sold 1,050 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $43.25, for a total transaction of $45,412.50. Following the sale, the insider now owns 73,810 shares in the company, valued at $3,192,282.50. This represents a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rebecca Chambers sold 7,000 shares of Veracyte stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $43.23, for a total value of $302,610.00. Following the completion of the transaction, the chief financial officer now owns 114,037 shares of the company’s stock, valued at approximately $4,929,819.51. The trade was a 5.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,038 shares of company stock valued at $1,008,297. Corporate insiders own 1.30% of the company’s stock.
Veracyte Price Performance
NASDAQ VCYT opened at $43.78 on Friday. The company’s fifty day moving average price is $40.43 and its two-hundred day moving average price is $33.04. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of -291.87 and a beta of 1.71. Veracyte, Inc. has a 12 month low of $18.61 and a 12 month high of $46.00.
Veracyte (NASDAQ:VCYT – Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.16. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The business had revenue of $115.86 million during the quarter, compared to the consensus estimate of $109.81 million. During the same period last year, the firm earned ($0.03) earnings per share. The company’s revenue for the quarter was up 28.6% compared to the same quarter last year. As a group, analysts anticipate that Veracyte, Inc. will post 0.38 EPS for the current year.
About Veracyte
Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.
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