Veracyte, Inc. (NASDAQ:VCYT) Stock Holdings Lessened by Algert Global LLC

Algert Global LLC reduced its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 22.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 39,461 shares of the biotechnology company’s stock after selling 11,241 shares during the quarter. Algert Global LLC owned approximately 0.05% of Veracyte worth $855,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in shares of Veracyte by 2,331.6% in the 2nd quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 1,329 shares during the period. CWM LLC increased its holdings in shares of Veracyte by 168.3% in the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 951 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Veracyte in the 2nd quarter worth about $58,000. Signature Resources Capital Management LLC acquired a new stake in shares of Veracyte in the 2nd quarter worth about $83,000. Finally, nVerses Capital LLC acquired a new stake in shares of Veracyte in the 2nd quarter worth about $85,000.

Wall Street Analyst Weigh In

VCYT has been the subject of a number of research analyst reports. Morgan Stanley upped their price target on shares of Veracyte from $21.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, August 12th. Needham & Company LLC upped their target price on 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 and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.25.

Insider Buying and Selling

In related news, insider John Leite sold 1,277 shares of the stock in a transaction on 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 owns 82,968 shares in the company, valued at $2,074,200. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Veracyte news, Director Karin Eastham sold 7,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $25.00, for a total transaction of $187,500.00. Following the sale, the director now directly owns 33,228 shares of the company’s stock, valued at $830,700. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Leite sold 1,277 shares of the stock in a transaction 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 sale, the insider now owns 82,968 shares of the company’s stock, valued at $2,074,200. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,918 shares of company stock worth $1,399,541 in the last three months. 1.30% of the stock is currently owned by insiders.

Veracyte Trading Down 0.4 %

Shares of NASDAQ VCYT opened at $32.84 on Friday. The firm has a 50-day moving average of $30.62 and a two-hundred day moving average of $24.65. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of -34.94 and a beta of 1.67. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $35.51.

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. The firm had revenue of $114.43 million during 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 firm’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.12) earnings per share. As a group, research analysts predict that Veracyte, Inc. will post 0.16 earnings per share for the current year.

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.