Veracyte, Inc. (NASDAQ:VCYT) Shares Bought by Inspire Investing LLC

Inspire Investing LLC grew its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 2.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,462 shares of the biotechnology company’s stock after purchasing an additional 340 shares during the quarter. Inspire Investing LLC’s holdings in Veracyte were worth $357,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Veracyte by 3.7% during the first quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company’s stock worth $163,649,000 after buying an additional 266,660 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted 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 worth $74,179,000 after acquiring an additional 242,760 shares during the period. Nikko Asset Management Americas Inc. boosted its position in shares of Veracyte by 7.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 3,347,436 shares of the biotechnology company’s stock worth $74,012,000 after acquiring an additional 242,760 shares during the last quarter. Champlain Investment Partners LLC grew its holdings in Veracyte by 23.3% in 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 purchasing an additional 509,340 shares during the period. Finally, William Blair Investment Management LLC increased its position in 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 purchasing an additional 500,020 shares during the last quarter.

Veracyte Trading Down 1.2 %

Shares of NASDAQ VCYT opened at $34.83 on Friday. The business has a 50 day simple moving average of $28.68 and a 200-day simple moving average of $23.85. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $35.51. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of -37.05 and a beta of 1.66.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.10. Veracyte had a negative net margin of 13.52% and a positive return on equity of 1.52%. The company had revenue of $114.43 million for the quarter, compared to analysts’ expectations of $100.27 million. During the same period in the prior year, the company earned ($0.12) earnings per share. The firm’s revenue was up 26.7% compared to the same quarter last year. As a group, equities analysts predict that Veracyte, Inc. will post 0.16 earnings per share for the current year.

Analyst Ratings Changes

VCYT has been the subject of a number of research analyst reports. Needham & Company LLC upped their price objective on Veracyte from $31.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Morgan Stanley boosted their price target on Veracyte from $21.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.25.

Insiders Place Their Bets

In other news, insider John Leite sold 1,277 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $25.00, for a total transaction 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 $2,074,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Evan/ Fa Jones sold 20,457 shares of Veracyte stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $32.20, for a total value of $658,715.40. Following the sale, the director now directly owns 34,343 shares in the company, valued at approximately $1,105,844.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John Leite sold 1,277 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 transaction of $31,925.00. Following the completion of the transaction, the insider now owns 82,968 shares of the company’s stock, valued at approximately $2,074,200. The disclosure for this sale can be found here. Insiders have sold 40,745 shares of company stock valued at $1,217,296 over the last quarter. Insiders own 1.30% of the company’s stock.

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.