Harbor Capital Advisors Inc. Buys 108,148 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Harbor Capital Advisors Inc. grew its position in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 172.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 170,834 shares of the biotechnology company's stock after acquiring an additional 108,148 shares during the period. Harbor Capital Advisors Inc. owned about 0.22% of Veracyte worth $5,815,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Point72 Asset Management L.P. bought a new position in shares of Veracyte during the second quarter worth approximately $12,279,000. Champlain Investment Partners LLC increased its position in shares of Veracyte by 23.3% in the first quarter. Champlain Investment Partners LLC now owns 2,697,600 shares of the biotechnology company's stock worth $59,779,000 after purchasing an additional 509,340 shares during the period. William Blair Investment Management LLC lifted its holdings in shares of Veracyte by 67.4% during the 2nd quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company's stock worth $26,907,000 after acquiring an additional 500,020 shares during the period. Bamco Inc. NY boosted its stake in Veracyte by 46.3% in the first quarter. Bamco Inc. NY now owns 1,115,806 shares of the biotechnology company's stock valued at $24,726,000 after buying an additional 353,000 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Veracyte by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company's stock valued at $163,649,000 after purchasing an additional 266,660 shares during the last quarter.

Veracyte Trading Up 2.0 %

Shares of NASDAQ:VCYT traded up $0.67 during midday trading on Monday, reaching $34.98. The company had a trading volume of 686,664 shares, compared to its average volume of 754,836. The stock has a market cap of $2.69 billion, a P/E ratio of -45.68 and a beta of 1.67. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $35.51. The company's 50 day moving average price is $32.83 and its 200 day moving average price is $26.49.

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

Insider Transactions at Veracyte

In other news, Director Evan/ Fa Jones sold 5,173 shares of the business'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 transaction, the director now directly owns 34,343 shares in the company, valued at $1,209,903.89. The trade was 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 business's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total value of $163,164.62. Following the completion of the sale, the insider now directly owns 76,174 shares in the company, valued at approximately $2,268,461.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Evan/ Fa Jones sold 5,173 shares of the business's stock in a transaction on Thursday, September 19th. The stock was 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 directly owns 34,343 shares of the company's stock, valued at $1,209,903.89. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,141 shares of company stock valued at $1,180,116 over the last three months. Company insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on VCYT shares. Needham & Company LLC lifted their target price 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. Morgan Stanley upped their price target on shares of Veracyte from $21.00 to $26.00 and gave the company an "underweight" rating in a research report on Monday, August 12th. Guggenheim assumed coverage on Veracyte in a report on Thursday, October 10th. They issued a "buy" rating and a $40.00 target price for the company. Leerink Partners raised their price objective 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. Finally, UBS Group initiated coverage on shares of Veracyte in a report on Wednesday, October 16th. They set a "buy" rating and a $43.00 price objective on the stock. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $35.67.

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.