US Bancorp DE Has $38,000 Stock Position in Veracyte, Inc. (NASDAQ:VCYT)

US Bancorp DE trimmed its position in Veracyte, Inc. (NASDAQ:VCYT) by 68.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,127 shares of the biotechnology company’s stock after selling 2,415 shares during the quarter. US Bancorp DE’s holdings in Veracyte were worth $38,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. raised its position 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 valued at $31,000 after buying an additional 1,329 shares in the last quarter. CWM LLC boosted its stake in shares of Veracyte by 168.3% during the second quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 951 shares in the last quarter. Castleview Partners LLC bought a new stake in Veracyte during the 3rd quarter worth approximately $87,000. Values First Advisors Inc. bought a new stake in shares of Veracyte in the third quarter worth $91,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Veracyte in the second quarter valued at about $58,000.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Leerink Partners boosted their price target on Veracyte from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. UBS Group boosted their price objective on Veracyte from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC raised their price target on shares of Veracyte from $37.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on Veracyte from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Guggenheim initiated coverage on shares of Veracyte in a research report on Thursday, October 10th. They set a “buy” rating and a $40.00 target price for the company. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Veracyte currently has a consensus rating of “Moderate Buy” and an average price target of $41.25.

Veracyte Trading Up 2.1 %

Shares of VCYT stock opened at $36.71 on Tuesday. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $41.43. The firm’s 50 day moving average is $34.06 and its 200 day moving average is $27.71. The stock has a market capitalization of $2.85 billion, a P/E ratio of -242.47 and a beta of 1.67.

Veracyte (NASDAQ:VCYT) last released its earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.16. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The company had revenue of $115.86 million for the quarter, compared to analysts’ expectations of $109.81 million. During the same quarter last year, the business earned ($0.03) EPS. The firm’s revenue was up 28.6% 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.

Insiders Place Their Bets

In related news, Director Evan/ Fa Jones sold 5,173 shares of Veracyte stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $35.23, for a total value of $182,244.79. Following the sale, the director now directly owns 34,343 shares in the company, valued at approximately $1,209,903.89. The trade was a 13.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John Leite sold 5,479 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $29.78, for a total transaction of $163,164.62. Following the completion of the transaction, the insider now directly owns 76,174 shares in the company, valued at $2,268,461.72. This trade represents a 6.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by company 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.