Vanguard Group Inc. Boosts Holdings in Veracyte, Inc. (NASDAQ:VCYT)

Vanguard Group Inc. boosted its stake in Veracyte, Inc. (NASDAQ:VCYT) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,118,211 shares of the biotechnology company’s stock after acquiring an additional 52,699 shares during the period. Vanguard Group Inc. owned about 9.75% of Veracyte worth $195,822,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Parkman Healthcare Partners LLC lifted its holdings in shares of Veracyte by 5.1% in the 4th quarter. Parkman Healthcare Partners LLC now owns 237,316 shares of the biotechnology company’s stock valued at $6,529,000 after purchasing an additional 11,444 shares during the last quarter. Granahan Investment Management LLC lifted its stake in Veracyte by 32.1% in the fourth quarter. Granahan Investment Management LLC now owns 503,898 shares of the biotechnology company’s stock valued at $13,862,000 after buying an additional 122,574 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of Veracyte in the fourth quarter valued at approximately $1,118,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Veracyte during the fourth quarter worth approximately $2,715,000. Finally, Commerce Bank increased its holdings in shares of Veracyte by 25.1% in the 4th quarter. Commerce Bank now owns 13,785 shares of the biotechnology company’s stock valued at $379,000 after acquiring an additional 2,770 shares during the period.

Veracyte Stock Down 0.3 %

NASDAQ VCYT opened at $21.26 on Wednesday. The stock has a market capitalization of $1.63 billion, a P/E ratio of -22.62 and a beta of 1.65. The firm has a 50-day moving average price of $21.34 and a 200 day moving average price of $23.10. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $30.52.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.17. Veracyte had a negative net margin of 18.16% and a negative return on equity of 1.42%. The firm had revenue of $96.84 million during the quarter, compared to analysts’ expectations of $93.35 million. During the same quarter last year, the business earned ($0.11) earnings per share. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, equities research analysts expect that Veracyte, Inc. will post -0.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Needham & Company LLC lowered their price objective on shares of Veracyte from $33.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. The Goldman Sachs Group dropped their price target on Veracyte from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Veracyte has a consensus rating of “Moderate Buy” and a consensus price target of $27.50.

Insider Activity at Veracyte

In other Veracyte news, Director Muna Bhanji sold 3,870 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $20.32, for a total value of $78,638.40. Following the sale, the director now owns 23,105 shares of the company’s stock, valued at $469,493.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Muna Bhanji sold 3,870 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $20.32, for a total value of $78,638.40. Following the sale, the director now directly owns 23,105 shares in the company, valued at $469,493.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karin Eastham sold 2,500 shares of Veracyte stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $20.97, for a total value of $52,425.00. Following the transaction, the director now owns 33,125 shares of the company’s stock, valued at $694,631.25. The disclosure for this sale can be found here. Insiders sold 7,909 shares of company stock valued at $163,382 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.

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.