Rice Hall James & Associates LLC Invests $4.33 Million in Veracyte, Inc. (NASDAQ:VCYT)

Rice Hall James & Associates LLC acquired a new stake in Veracyte, Inc. (NASDAQ:VCYT - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 127,190 shares of the biotechnology company's stock, valued at approximately $4,330,000. Rice Hall James & Associates LLC owned about 0.17% of Veracyte at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of VCYT. Blue Trust Inc. lifted its position in Veracyte by 2,331.6% in the second quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company's stock worth $31,000 after buying an additional 1,329 shares during the last quarter. CWM LLC grew its holdings in Veracyte by 168.3% during the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company's stock valued at $33,000 after purchasing an additional 951 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Veracyte in the 2nd quarter worth about $58,000. Signature Resources Capital Management LLC purchased a new position in shares of Veracyte during the second quarter valued at approximately $83,000. Finally, nVerses Capital LLC purchased a new stake in shares of Veracyte in the second quarter worth approximately $85,000.

Wall Street Analyst Weigh In

VCYT has been the topic of several research analyst reports. Guggenheim began coverage on Veracyte in a research report on Thursday, October 10th. They issued a "buy" rating and a $40.00 price objective on the stock. Leerink Partners lifted 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. Morgan Stanley upped their target price on shares of Veracyte from $21.00 to $26.00 and gave the stock an "underweight" rating in a research note on Monday, August 12th. UBS Group assumed coverage on Veracyte in a report on Wednesday, October 16th. They issued a "buy" rating and a $43.00 price target for the company. Finally, Needham & Company LLC lifted their target price on Veracyte from $31.00 to $37.00 and gave the company a "buy" rating in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat, Veracyte currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.67.

Insider Transactions at Veracyte

In related news, Director Evan/ Fa Jones sold 1,032 shares of Veracyte stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.03, for a total value of $30,990.96. Following the completion of the sale, the director now directly owns 46,413 shares in the company, valued at $1,393,782.39. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider John Leite sold 5,479 shares of the company's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.78, for a total value of $163,164.62. Following the sale, the insider now owns 76,174 shares in the company, valued at $2,268,461.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Evan/ Fa Jones sold 1,032 shares of the company's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $30.03, for a total value of $30,990.96. Following the completion of the sale, the director now owns 46,413 shares in the company, valued at approximately $1,393,782.39. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,141 shares of company stock worth $1,180,116. Insiders own 1.30% of the company's stock.

Veracyte Stock Performance

VCYT traded up $0.57 on Friday, hitting $34.31. The company had a trading volume of 553,749 shares, compared to its average volume of 755,158. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $35.51. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -45.20 and a beta of 1.67. The stock has a fifty day moving average price of $32.78 and a 200-day moving average price of $26.28.

Veracyte (NASDAQ:VCYT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.10. Veracyte had a positive return on equity of 1.52% and a negative net margin of 13.52%. The business had revenue of $114.43 million for the quarter, compared to the consensus estimate of $100.27 million. During the same period in the prior year, the firm posted ($0.12) earnings per share. The business's quarterly revenue was up 26.7% on a year-over-year basis. Analysts forecast that Veracyte, Inc. will post 0.16 EPS for the current fiscal year.

Veracyte 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.