Barclays PLC Purchases 85,033 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Barclays PLC boosted its stake in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 138.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 146,402 shares of the biotechnology company's stock after buying an additional 85,033 shares during the period. Barclays PLC owned 0.19% of Veracyte worth $4,983,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. KBC Group NV lifted its stake in shares of Veracyte by 13.7% in 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 during the period. Inspire Investing LLC boosted its holdings in shares of Veracyte by 2.1% during the 2nd quarter. Inspire Investing LLC now owns 16,462 shares of the biotechnology company's stock valued at $357,000 after buying an additional 340 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Veracyte by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,778 shares of the biotechnology company's stock valued at $94,000 after buying an additional 496 shares in the last quarter. Arizona State Retirement System grew its position in shares of Veracyte by 3.7% in the 2nd quarter. Arizona State Retirement System now owns 20,806 shares of the biotechnology company's stock worth $451,000 after buying an additional 733 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Veracyte by 5.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,823 shares of the biotechnology company's stock valued at $473,000 after acquiring an additional 1,173 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wolfe Research started coverage on shares of Veracyte in a report on Friday, November 15th. They issued an "outperform" rating and a $50.00 price objective on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $37.00 price objective (down previously from $38.00) on shares of Veracyte in a research report on Thursday, December 5th. Morgan Stanley lifted their price objective on Veracyte from $26.00 to $28.00 and gave the company an "underweight" rating in a research note on Monday, November 18th. Guggenheim began coverage on Veracyte in a research note on Thursday, October 10th. They issued a "buy" rating and a $40.00 target price on the stock. Finally, Needham & Company LLC lifted their price target on Veracyte from $37.00 to $44.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Veracyte currently has an average rating of "Moderate Buy" and a consensus price target of $41.13.

Insider Activity at Veracyte

In other news, CFO Rebecca Chambers sold 7,000 shares of Veracyte stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $43.23, for a total transaction of $302,610.00. Following the transaction, the chief financial officer now owns 114,037 shares in the company, valued at $4,929,819.51. This trade represents a 5.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Jonathan Wygant sold 956 shares of the company's stock in a transaction on 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 of the company's stock, valued at $1,746,107.20. This trade represents a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,038 shares of company stock worth $605,297. 1.30% of the stock is owned by insiders.

Veracyte Stock Up 4.7 %

Shares of NASDAQ VCYT traded up $1.82 during trading on Friday, reaching $40.89. 2,010,201 shares of the company traded hands, compared to its average volume of 773,634. The firm has a 50 day simple moving average of $38.50 and a 200-day simple moving average of $31.24. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $46.00. The stock has a market capitalization of $3.17 billion, a PE ratio of -272.60 and a beta of 1.69.

Veracyte (NASDAQ:VCYT - Get Free Report) last posted 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. The business had revenue of $115.86 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted ($0.03) EPS. As a group, research analysts predict that Veracyte, Inc. will post 0.38 EPS for the current year.

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.