6,621 Shares in Veracyte, Inc. (NASDAQ:VCYT) Purchased by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft purchased a new stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,621 shares of the biotechnology company's stock, valued at approximately $262,000.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Veracyte by 0.3% during the third quarter. State Street Corp now owns 2,916,515 shares of the biotechnology company's stock valued at $99,278,000 after purchasing an additional 7,920 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Veracyte by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,844,713 shares of the biotechnology company's stock valued at $62,806,000 after purchasing an additional 17,921 shares in the last quarter. Eventide Asset Management LLC boosted its position in shares of Veracyte by 20.2% during the third quarter. Eventide Asset Management LLC now owns 677,883 shares of the biotechnology company's stock valued at $23,075,000 after purchasing an additional 113,883 shares in the last quarter. Segall Bryant & Hamill LLC boosted its holdings in Veracyte by 19.0% in the third quarter. Segall Bryant & Hamill LLC now owns 444,299 shares of the biotechnology company's stock worth $15,124,000 after acquiring an additional 71,086 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Veracyte by 288.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 360,871 shares of the biotechnology company's stock worth $12,284,000 after acquiring an additional 268,000 shares in the last quarter.

Veracyte Stock Performance

Shares of NASDAQ:VCYT traded down $0.38 during midday trading on Monday, reaching $45.10. 436,731 shares of the company's stock traded hands, compared to its average volume of 794,449. The company has a market cap of $3.50 billion, a price-to-earnings ratio of -301.21 and a beta of 1.71. Veracyte, Inc. has a one year low of $18.61 and a one year high of $47.32. The stock has a 50 day moving average of $42.39 and a 200 day moving average of $35.58.

Veracyte (NASDAQ:VCYT - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.16. The company had revenue of $115.86 million during the quarter, compared to analysts' expectations of $109.81 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. Veracyte's revenue for the quarter was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.03) earnings per share. Sell-side analysts predict that Veracyte, Inc. will post 0.38 EPS for the current fiscal year.

Analyst Ratings Changes

VCYT has been the topic of several analyst reports. Wolfe Research initiated coverage on Veracyte in a report on Friday, November 15th. They issued an "outperform" rating and a $50.00 target price on the stock. The Goldman Sachs Group reissued a "neutral" rating and issued a $37.00 target price (down from $38.00) on shares of Veracyte in a report on Thursday, December 5th. Leerink Partners boosted their target price on Veracyte from $35.00 to $40.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. UBS Group boosted their target price on Veracyte from $43.00 to $46.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, Guggenheim started coverage on Veracyte in a report on Thursday, October 10th. They set a "buy" rating and a $40.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $42.00.

Insider Activity at Veracyte

In other Veracyte news, CAO Jonathan Wygant sold 956 shares of the company's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $43.36, for a total value of $41,452.16. Following the completion of the sale, the chief accounting officer now owns 40,270 shares in the company, valued at $1,746,107.20. This represents a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Karin Eastham sold 10,000 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total value of $403,000.00. Following the completion of the sale, the director now owns 18,497 shares of the company's stock, valued at approximately $745,429.10. The trade was a 35.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,038 shares of company stock worth $1,008,297. 1.30% of the stock is owned by insiders.

Veracyte Profile

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.