Veracyte, Inc. (NASDAQ:VCYT) Shares Purchased by Fmr LLC

FMR LLC boosted its position in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 33.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,977 shares of the biotechnology company's stock after purchasing an additional 16,536 shares during the period. FMR LLC owned approximately 0.09% of Veracyte worth $2,246,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of VCYT. CWM LLC increased its holdings 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. SG Americas Securities LLC raised its position in Veracyte by 37.4% in the second quarter. SG Americas Securities LLC now owns 8,703 shares of the biotechnology company's stock valued at $189,000 after purchasing an additional 2,367 shares during the period. Blue Trust Inc. lifted its stake in shares of Veracyte by 2,331.6% in the 2nd quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company's stock valued at $31,000 after purchasing an additional 1,329 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Veracyte by 12.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 281,810 shares of the biotechnology company's stock worth $6,107,000 after purchasing an additional 31,613 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Veracyte by 18.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 11,065 shares of the biotechnology company's stock worth $240,000 after purchasing an additional 1,740 shares during the last quarter.

Insider Activity

In other news, CAO Jonathan Wygant sold 956 shares of the 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 transaction, the chief accounting officer now owns 40,270 shares in the company, valued at approximately $1,746,107.20. This represents a 2.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Rebecca Chambers sold 7,000 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $43.23, for a total value of $302,610.00. Following the sale, the chief financial officer now owns 114,037 shares of the company's stock, valued at approximately $4,929,819.51. The trade was a 5.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,211 shares of company stock worth $787,542. 1.30% of the stock is currently owned by corporate insiders.

Veracyte Trading Down 2.7 %

NASDAQ:VCYT traded down $1.18 during midday trading on Friday, reaching $43.22. The company had a trading volume of 684,684 shares, compared to its average volume of 768,057. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $46.00. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of -288.13 and a beta of 1.69. The stock's fifty day simple moving average is $37.71 and its 200-day simple moving average is $30.61.

Veracyte (NASDAQ:VCYT - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.16. The business 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%. The business's quarterly revenue was up 28.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) EPS. As a group, sell-side analysts expect that Veracyte, Inc. will post 0.38 EPS for the current year.

Analysts Set New Price Targets

VCYT has been the subject of several research analyst reports. UBS Group increased their target price on shares of Veracyte from $43.00 to $46.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $37.00 target price (down previously from $38.00) on shares of Veracyte in a report on Thursday, December 5th. Scotiabank upped their price target on Veracyte from $40.00 to $44.00 and gave the stock a "sector outperform" rating in a research note on Friday, November 8th. Wolfe Research began coverage on Veracyte in a research note on Friday, November 15th. They issued an "outperform" rating and a $50.00 price objective for the company. Finally, Leerink Partners boosted their price objective on Veracyte from $35.00 to $40.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $41.13.

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.