Veracyte, Inc. (NASDAQ:VCYT) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 127.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,455 shares of the biotechnology company's stock after acquiring an additional 16,512 shares during the period. Assenagon Asset Management S.A.'s holdings in Veracyte were worth $1,003,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Veracyte by 3.7% in the first quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company's stock worth $163,649,000 after acquiring an additional 266,660 shares in the last quarter. Bamco Inc. NY boosted its position in shares of Veracyte by 46.3% during the 1st quarter. Bamco Inc. NY now owns 1,115,806 shares of the biotechnology company's stock worth $24,726,000 after purchasing an additional 353,000 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Veracyte by 232.3% during the 1st quarter. Nordea Investment Management AB now owns 272,176 shares of the biotechnology company's stock worth $6,050,000 after purchasing an additional 190,262 shares in the last quarter. Sei Investments Co. boosted its position in shares of Veracyte by 21.2% during the 1st quarter. Sei Investments Co. now owns 142,604 shares of the biotechnology company's stock worth $3,160,000 after purchasing an additional 24,945 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Veracyte by 9.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,325 shares of the biotechnology company's stock worth $207,000 after purchasing an additional 778 shares in the last quarter.

Insider Buying and Selling at Veracyte

In other news, Director Evan/ Fa Jones sold 5,173 shares of the company's stock in a transaction dated 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 transaction, the director now owns 34,343 shares of the company's stock, valued at $1,209,903.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Evan/ Fa Jones sold 5,173 shares of the company's stock in a transaction dated 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 transaction, the director now owns 34,343 shares of the company's stock, valued at $1,209,903.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Leite sold 5,479 shares of the company's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total transaction of $163,164.62. Following the transaction, the insider now directly owns 76,174 shares of the company's stock, valued at approximately $2,268,461.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,141 shares of company stock worth $1,180,116. Corporate insiders own 1.30% of the company's stock.

Veracyte Price Performance

NASDAQ:VCYT traded up $0.57 on Friday, reaching $34.31. The stock had a trading volume of 553,888 shares, compared to its average volume of 632,445. The company has a market cap of $2.64 billion, a price-to-earnings ratio of -45.75 and a beta of 1.67. The firm's fifty day moving average is $32.83 and its two-hundred day moving average is $26.49. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $35.51.

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

Analysts Set New Price Targets

VCYT has been the topic of several research analyst reports. Leerink Partners boosted their target price on shares of Veracyte from $35.00 to $40.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. UBS Group initiated coverage on shares of Veracyte in a research report on Wednesday, October 16th. They set a "buy" rating and a $43.00 target price on the stock. Morgan Stanley boosted their target price on shares of Veracyte from $21.00 to $26.00 and gave the stock an "underweight" rating in a research report on Monday, August 12th. Needham & Company LLC boosted their price objective on shares of Veracyte from $31.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, August 28th. Finally, Guggenheim began coverage on shares of Veracyte in a research report on Thursday, October 10th. They issued a "buy" rating and a $40.00 price objective on the stock. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $35.67.

About Veracyte

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.