Cerity Partners LLC Purchases New Shares in Veracyte, Inc. (NASDAQ:VCYT)

Cerity Partners LLC purchased a new stake in Veracyte, Inc. (NASDAQ:VCYT - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 12,672 shares of the biotechnology company's stock, valued at approximately $431,000.

Several other large investors also recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new stake in shares of Veracyte in the second quarter valued at about $12,279,000. William Blair Investment Management LLC raised its holdings in Veracyte by 67.4% in the 2nd quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company's stock valued at $26,907,000 after acquiring an additional 500,020 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Veracyte by 288.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 360,871 shares of the biotechnology company's stock valued at $12,284,000 after acquiring an additional 268,000 shares during the last quarter. Peregrine Asset Advisers Inc. purchased a new position in Veracyte in the 3rd quarter worth approximately $4,681,000. Finally, Rice Hall James & Associates LLC acquired a new position in shares of Veracyte during the 3rd quarter worth approximately $4,330,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on VCYT shares. Morgan Stanley increased their price target on Veracyte from $26.00 to $28.00 and gave the company an "underweight" rating in a report on Monday, November 18th. Guggenheim initiated coverage on Veracyte in a report on Thursday, October 10th. They issued a "buy" rating and a $40.00 target price for the company. Needham & Company LLC lifted their price target on Veracyte from $37.00 to $44.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Leerink Partners upped their price objective on shares of Veracyte from $35.00 to $40.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $37.00 price objective (down from $38.00) on shares of Veracyte in a research report on Thursday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $41.13.

Insider Buying and Selling

In other Veracyte news, CAO Jonathan Wygant sold 5,032 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $42.89, for a total transaction of $215,822.48. Following the completion of the transaction, the chief accounting officer now owns 42,313 shares in the company, valued at $1,814,804.57. The trade was a 10.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Evan/ Fa Jones sold 5,173 shares of the firm'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 owns 34,343 shares in the company, valued at $1,209,903.89. The trade was a 13.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,211 shares of company stock valued at $787,542 in the last ninety days. Company insiders own 1.30% of the company's stock.

Veracyte Trading Down 3.1 %

VCYT stock traded down $1.37 during mid-day trading on Monday, hitting $42.76. 827,262 shares of the company were exchanged, compared to its average volume of 772,600. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $46.00. The business has a fifty day simple moving average of $36.71 and a 200-day simple moving average of $29.82.

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

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.