Cubist Systematic Strategies LLC Has $736,000 Holdings in Veracyte, Inc. (NASDAQ:VCYT)

Cubist Systematic Strategies LLC lessened its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 80.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,946 shares of the biotechnology company’s stock after selling 136,548 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Veracyte were worth $736,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of VCYT. Blue Trust Inc. lifted its holdings in shares of Veracyte by 2,331.6% during the second quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 1,329 shares during the period. CWM LLC increased its position in shares of Veracyte by 168.3% during the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 951 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Veracyte during the 2nd quarter valued at about $58,000. Signature Resources Capital Management LLC acquired a new position in Veracyte in the second quarter valued at about $83,000. Finally, nVerses Capital LLC bought a new stake in Veracyte during the second quarter worth about $85,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on VCYT shares. Morgan Stanley boosted their target price on Veracyte from $21.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, August 12th. Needham & Company LLC boosted their price objective on Veracyte from $31.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Finally, Guggenheim assumed coverage on Veracyte in a research note on Thursday. They issued a “buy” rating and a $40.00 target price for the company. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.75.

Veracyte Price Performance

Shares of Veracyte stock opened at $34.02 on Friday. The firm has a 50 day simple moving average of $31.38 and a 200 day simple moving average of $24.95. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $35.51. The firm has a market cap of $2.61 billion, a P/E ratio of -45.36 and a beta of 1.67.

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

Insiders Place Their Bets

In other news, Director Evan/ Fa Jones sold 1,032 shares of Veracyte stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.03, for a total transaction of $30,990.96. Following the completion of the sale, the director now owns 46,413 shares in the company, valued at $1,393,782.39. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Karin Eastham sold 7,500 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $25.00, for a total value of $187,500.00. Following the completion of the sale, the director now owns 33,228 shares in the company, valued at approximately $830,700. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Evan/ Fa Jones sold 1,032 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $30.03, for a total value of $30,990.96. Following the completion of the transaction, the director now directly owns 46,413 shares in the company, valued at $1,393,782.39. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 45,918 shares of company stock valued at $1,399,541. 1.30% of the stock is currently owned by insiders.

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.