Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Assetmark Inc.

Assetmark Inc. reduced its position in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 86.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,744 shares of the biotechnology company's stock after selling 18,229 shares during the period. Assetmark Inc.'s holdings in Veracyte were worth $93,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in VCYT. Inspire Investing LLC increased its holdings in shares of Veracyte by 2.1% in the 2nd quarter. Inspire Investing LLC now owns 16,462 shares of the biotechnology company's stock valued at $357,000 after purchasing an additional 340 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Veracyte by 21.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,778 shares of the biotechnology company's stock worth $94,000 after purchasing an additional 496 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Veracyte by 6.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 8,198 shares of the biotechnology company's stock valued at $182,000 after purchasing an additional 530 shares during the last quarter. Arizona State Retirement System increased its position in shares of Veracyte by 3.7% in the second quarter. Arizona State Retirement System now owns 20,806 shares of the biotechnology company's stock valued at $451,000 after buying an additional 733 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Veracyte by 168.3% during the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company's stock worth $33,000 after buying an additional 951 shares during the last quarter.

Wall Street Analysts Forecast Growth

VCYT has been the topic of several research reports. The Goldman Sachs Group increased their price target on shares of Veracyte from $34.00 to $38.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Morgan Stanley upped their price objective on Veracyte from $26.00 to $28.00 and gave the company an "underweight" rating in a research report on Monday. UBS Group lifted their price target on shares of Veracyte from $43.00 to $46.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Leerink Partners raised their target price on shares of Veracyte from $35.00 to $40.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Finally, Needham & Company LLC boosted their price target on Veracyte from $37.00 to $44.00 and gave the company a "buy" rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.25.

Veracyte Price Performance

VCYT stock traded up $0.77 during midday trading on Monday, reaching $36.71. 763,547 shares of the company's stock traded hands, compared to its average volume of 771,467. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $41.43. The business has a 50-day moving average price of $34.06 and a two-hundred day moving average price of $27.71. The company has a market capitalization of $2.85 billion, a P/E ratio of -242.47 and a beta of 1.67.

Veracyte (NASDAQ:VCYT - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.16. The firm had revenue of $115.86 million during the quarter, compared to analysts' expectations of $109.81 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The firm's revenue was up 28.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.03) EPS. As a group, research analysts forecast that Veracyte, Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Activity

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

Veracyte Company 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.