Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC lowered its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 27.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,981 shares of the biotechnology company’s stock after selling 4,106 shares during the quarter. Procyon Advisors LLC’s holdings in Veracyte were worth $374,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Veracyte by 3.7% in the first quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company’s stock worth $163,649,000 after purchasing an additional 266,660 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its stake in shares of Veracyte by 7.8% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 3,347,436 shares of the biotechnology company’s stock valued at $74,012,000 after buying an additional 242,760 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Veracyte by 7.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,347,436 shares of the biotechnology company’s stock valued at $74,179,000 after acquiring an additional 242,760 shares in the last quarter. Champlain Investment Partners LLC increased its stake in shares of Veracyte by 23.3% in the first quarter. Champlain Investment Partners LLC now owns 2,697,600 shares of the biotechnology company’s stock worth $59,779,000 after acquiring an additional 509,340 shares during the last quarter. Finally, William Blair Investment Management LLC raised its holdings in shares of Veracyte by 67.4% during the second quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company’s stock worth $26,907,000 after acquiring an additional 500,020 shares in the last quarter.

Insider Transactions at Veracyte

In other Veracyte news, insider John Leite sold 5,479 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $29.78, for a total value of $163,164.62. Following the sale, the insider now owns 76,174 shares of the company’s stock, valued at $2,268,461.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Evan/ Fa Jones sold 5,173 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $35.23, for a total transaction of $182,244.79. Following the transaction, the director now owns 34,343 shares in the company, valued at approximately $1,209,903.89. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Leite sold 5,479 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total transaction of $163,164.62. Following the completion of the sale, the insider now owns 76,174 shares of the company’s stock, valued at approximately $2,268,461.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,141 shares of company stock worth $1,180,116. Company insiders own 1.30% of the company’s stock.

Veracyte Stock Up 0.4 %

Shares of VCYT stock opened at $34.07 on Wednesday. Veracyte, Inc. has a 12 month low of $18.61 and a 12 month high of $35.51. The company has a market cap of $2.60 billion, a PE ratio of -36.24 and a beta of 1.67. The business’s 50 day moving average is $32.13 and its two-hundred day moving average is $25.26.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.10. The business had revenue of $114.43 million for 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 was up 26.7% compared to the same quarter last year. During the same period last year, the business posted ($0.12) EPS. As a group, equities analysts expect that Veracyte, Inc. will post 0.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VCYT has been the topic of a number of recent research reports. Guggenheim assumed coverage on Veracyte in a research note on Thursday, October 10th. They issued a “buy” rating and a $40.00 target price on the stock. Needham & Company LLC boosted their price target on Veracyte from $31.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, Morgan Stanley raised their price objective on shares of Veracyte from $21.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.75.

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.