Rhumbline Advisers Purchases 8,096 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Rhumbline Advisers raised its position in Veracyte, Inc. (NASDAQ:VCYT) by 6.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 128,774 shares of the biotechnology company’s stock after acquiring an additional 8,096 shares during the quarter. Rhumbline Advisers owned approximately 0.17% of Veracyte worth $2,791,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of VCYT. Vanguard Group Inc. increased its holdings in Veracyte by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company’s stock valued at $163,649,000 after purchasing an additional 266,660 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Veracyte by 5.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,372,703 shares of the biotechnology company’s stock worth $92,787,000 after buying an additional 161,073 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Veracyte by 7.8% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,347,436 shares of the biotechnology company’s stock worth $74,179,000 after buying an additional 242,760 shares during the last quarter. Nikko Asset Management Americas Inc. increased its stake in shares of Veracyte by 7.8% during the first 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. Finally, Champlain Investment Partners LLC raised its holdings in shares of Veracyte by 23.3% during the first quarter. Champlain Investment Partners LLC now owns 2,697,600 shares of the biotechnology company’s stock valued at $59,779,000 after acquiring an additional 509,340 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Veracyte from $21.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, August 12th. Needham & Company LLC raised their target price on shares of Veracyte from $31.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.25.

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 transaction, the director now directly owns 46,413 shares in the company, valued at $1,393,782.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Evan/ Fa Jones sold 1,032 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $30.03, for a total value of $30,990.96. Following the sale, the director now directly owns 46,413 shares of the company’s stock, valued at $1,393,782.39. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Leite sold 1,277 shares of Veracyte stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $25.00, for a total value of $31,925.00. Following the completion of the transaction, the insider now directly owns 82,968 shares of the company’s stock, valued at approximately $2,074,200. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,745 shares of company stock worth $1,217,296. 1.30% of the stock is currently owned by company insiders.

Veracyte Stock Down 1.6 %

NASDAQ VCYT opened at $33.76 on Thursday. The firm has a market capitalization of $2.59 billion, a PE ratio of -35.91 and a beta of 1.66. The stock’s 50 day moving average is $28.18 and its 200 day moving average is $23.69. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $35.17.

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

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.