State Street Corp Purchases 7,920 Shares of Veracyte, Inc. (NASDAQ:VCYT)

State Street Corp increased its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 0.3% in the third quarter, Holdings Channel reports. The institutional investor owned 2,916,515 shares of the biotechnology company’s stock after buying an additional 7,920 shares during the period. State Street Corp’s holdings in Veracyte were worth $99,278,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. William Blair Investment Management LLC grew its stake in shares of Veracyte by 67.4% during the 2nd 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. Granite Investment Partners LLC grew its position in Veracyte by 2.1% in the second quarter. Granite Investment Partners LLC now owns 934,994 shares of the biotechnology company’s stock valued at $20,261,000 after purchasing an additional 19,244 shares in the last quarter. Eventide Asset Management LLC grew its position in Veracyte by 20.2% in the third quarter. Eventide Asset Management LLC now owns 677,883 shares of the biotechnology company’s stock valued at $23,075,000 after purchasing an additional 113,883 shares in the last quarter. Fiera Capital Corp increased its stake in Veracyte by 1.2% in the 2nd quarter. Fiera Capital Corp now owns 625,536 shares of the biotechnology company’s stock valued at $13,555,000 after buying an additional 7,219 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Veracyte during the 2nd quarter worth about $12,279,000.

Insider Buying and Selling at Veracyte

In other news, CAO Jonathan Wygant sold 5,032 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $42.89, for a total value of $215,822.48. Following the completion of the sale, the chief accounting officer now owns 42,313 shares of the company’s stock, valued at approximately $1,814,804.57. The trade was a 10.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Leite sold 1,050 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $43.25, for a total transaction of $45,412.50. Following the transaction, the insider now directly owns 73,810 shares in the company, valued at approximately $3,192,282.50. This represents a 1.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,211 shares of company stock valued at $787,542 in the last three months. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on VCYT. Wolfe Research assumed coverage on Veracyte in a report on Friday, November 15th. They set an “outperform” rating and a $50.00 target price on the stock. Leerink Partners upped their price objective on Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Morgan Stanley increased their price objective on Veracyte from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Monday, November 18th. Guggenheim assumed coverage on shares of Veracyte in a report on Thursday, October 10th. They set a “buy” rating and a $40.00 target price on the stock. Finally, Scotiabank increased their price target on shares of Veracyte from $40.00 to $44.00 and gave the company a “sector outperform” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.13.

Veracyte Trading Down 2.7 %

VCYT opened at $43.22 on Monday. The stock’s fifty day simple moving average is $37.71 and its 200 day simple moving average is $30.61. Veracyte, Inc. has a 1-year low of $18.61 and a 1-year high of $46.00. The stock has a market cap of $3.35 billion, a PE ratio of -288.13 and a beta of 1.69.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.16. The company had revenue of $115.86 million for the quarter, compared to analyst estimates of $109.81 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The company’s revenue was up 28.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) earnings per share. Equities analysts forecast that Veracyte, Inc. will post 0.38 earnings per share for the current year.

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.