Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 6.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,622 shares of the biotechnology company’s stock after selling 804 shares during the quarter. Truist Financial Corp’s holdings in Veracyte were worth $460,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp increased its position in Veracyte by 0.3% during the 3rd quarter. State Street Corp now owns 2,916,515 shares of the biotechnology company’s stock worth $99,278,000 after purchasing an additional 7,920 shares in the last quarter. Geode Capital Management LLC increased its position in Veracyte by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,844,713 shares of the biotechnology company’s stock worth $62,806,000 after purchasing an additional 17,921 shares in the last quarter. Jennison Associates LLC increased its position in Veracyte by 116.3% during the 4th quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company’s stock worth $33,017,000 after purchasing an additional 448,251 shares in the last quarter. Eventide Asset Management LLC increased its position in Veracyte by 20.2% during the 3rd quarter. Eventide Asset Management LLC now owns 677,883 shares of the biotechnology company’s stock worth $23,075,000 after purchasing an additional 113,883 shares in the last quarter. Finally, Segall Bryant & Hamill LLC increased its position in Veracyte by 19.0% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 444,299 shares of the biotechnology company’s stock worth $15,124,000 after purchasing an additional 71,086 shares in the last quarter.

Insider Buying and Selling

In related news, Director Karin Eastham sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total value of $403,000.00. Following the completion of the transaction, the director now owns 18,497 shares in the company, valued at $745,429.10. This trade represents a 35.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on VCYT. Scotiabank increased their target price on shares of Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and issued a $51.00 price target on shares of Veracyte in a report on Tuesday, February 25th. The Goldman Sachs Group restated a “neutral” rating and issued a $37.00 price target (down previously from $38.00) on shares of Veracyte in a report on Thursday, December 5th. UBS Group upped their price target on Veracyte from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Finally, Guggenheim restated a “buy” rating and issued a $45.00 price target on shares of Veracyte in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.00.

Veracyte Price Performance

Shares of NASDAQ VCYT opened at $33.56 on Tuesday. Veracyte, Inc. has a 1-year low of $18.61 and a 1-year high of $47.32. The business’s fifty day moving average price is $41.25 and its two-hundred day moving average price is $37.71. The firm has a market capitalization of $2.60 billion, a PE ratio of -223.73 and a beta of 1.71.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Monday, February 24th. The biotechnology company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The company had revenue of $118.63 million for the quarter, compared to analyst estimates of $110.73 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. During the same period last year, the company earned ($0.39) earnings per share. Equities research analysts expect that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Veracyte Profile

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.