Veracyte, Inc. (NASDAQ:VCYT) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System raised its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 3.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,806 shares of the biotechnology company’s stock after acquiring an additional 733 shares during the period. Arizona State Retirement System’s holdings in Veracyte were worth $451,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in VCYT. Charles Schwab Investment Management Inc. increased its position in shares of Veracyte by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 698,418 shares of the biotechnology company’s stock valued at $19,213,000 after acquiring an additional 14,066 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Veracyte by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,372,703 shares of the biotechnology company’s stock valued at $92,787,000 after acquiring an additional 161,073 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Veracyte by 14.7% during the fourth quarter. Principal Financial Group Inc. now owns 51,231 shares of the biotechnology company’s stock valued at $1,409,000 after acquiring an additional 6,565 shares during the last quarter. Norges Bank purchased a new position in shares of Veracyte in the fourth quarter valued at approximately $11,190,000. Finally, Corient Private Wealth LLC boosted its stake in shares of Veracyte by 6.2% in the fourth quarter. Corient Private Wealth LLC now owns 63,778 shares of the biotechnology company’s stock valued at $1,755,000 after purchasing an additional 3,696 shares during the period.

Wall Street Analyst Weigh In

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

Veracyte Stock Up 2.2 %

Shares of Veracyte stock opened at $33.63 on Tuesday. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $33.81. The company has a 50 day moving average of $27.68 and a 200 day moving average of $23.54. The company has a market capitalization of $2.58 billion, a P/E ratio of -35.78 and a beta of 1.66.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $100.27 million. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. The firm’s quarterly revenue was up 26.7% on a year-over-year basis. As a group, research analysts anticipate that Veracyte, Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider John Leite sold 1,277 shares of Veracyte stock in a transaction that occurred on Tuesday, July 16th. The shares were 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 owns 82,968 shares in the company, valued at $2,074,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Evan/ Fa Jones sold 20,457 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $32.20, for a total transaction of $658,715.40. Following the completion of the sale, the director now owns 34,343 shares in the company, valued at approximately $1,105,844.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Leite sold 1,277 shares of the business’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 sale, 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 sold 40,745 shares of company stock worth $1,217,296 over the last 90 days. 1.30% of the stock is owned by insiders.

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.