Harvest Fund Management Co. Ltd Purchases Shares of 11,821 Veracyte, Inc. (NASDAQ:VCYT)

Harvest Fund Management Co. Ltd bought a new stake in Veracyte, Inc. (NASDAQ:VCYT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,821 shares of the biotechnology company's stock, valued at approximately $468,000.

Other large investors have also modified their holdings of the company. Jones Financial Companies Lllp boosted its holdings in Veracyte by 49.7% in the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock worth $28,000 after acquiring an additional 237 shares during the period. US Bancorp DE lifted its position in shares of Veracyte by 57.4% during the fourth quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company's stock worth $70,000 after purchasing an additional 647 shares in the last quarter. Principal Securities Inc. boosted its stake in shares of Veracyte by 34.1% in the fourth quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company's stock valued at $76,000 after purchasing an additional 485 shares during the period. KBC Group NV grew its holdings in Veracyte by 13.7% during the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company's stock valued at $91,000 after purchasing an additional 323 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in Veracyte during the 4th quarter worth $91,000.

Analyst Ratings Changes

A number of research firms have weighed in on VCYT. Stephens reissued an "overweight" rating and issued a $45.00 price objective on shares of Veracyte in a research report on Wednesday. Guggenheim reissued a "buy" rating and issued a $45.00 price target on shares of Veracyte in a report on Tuesday, February 25th. UBS Group lifted their price objective on Veracyte from $46.00 to $49.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. StockNews.com lowered Veracyte from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $37.00 price target (down previously from $38.00) on shares of Veracyte in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $43.40.

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Veracyte Trading Down 7.8 %

NASDAQ VCYT traded down $2.64 during trading hours on Wednesday, reaching $31.05. The company's stock had a trading volume of 1,235,134 shares, compared to its average volume of 811,078. The business has a 50-day simple moving average of $38.19 and a 200 day simple moving average of $37.78. Veracyte, Inc. has a 52 week low of $18.61 and a 52 week high of $47.32. The stock has a market cap of $2.42 billion, a PE ratio of -207.00 and a beta of 1.80.

Veracyte (NASDAQ:VCYT - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.07. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The business had revenue of $118.63 million during the quarter, compared to analyst estimates of $110.73 million. During the same quarter in the previous year, the firm posted ($0.39) EPS. As a group, equities analysts predict that Veracyte, Inc. will post 0.68 EPS for the current year.

Insider Transactions at Veracyte

In other news, Director Karin Eastham sold 10,000 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total transaction of $403,000.00. Following the transaction, the director now directly owns 18,497 shares of the company's stock, valued at approximately $745,429.10. This trade represents a 35.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company's stock.

About Veracyte

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.