Proficio Capital Partners LLC acquired a new stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 29,779 shares of the biotechnology company's stock, valued at approximately $1,179,000.
Several other large investors have also recently modified their holdings of the stock. KBC Group NV grew its position in Veracyte by 13.7% during the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company's stock worth $91,000 after acquiring an additional 323 shares during the last quarter. Caprock Group LLC bought a new position in shares of Veracyte in the third quarter worth approximately $252,000. Segall Bryant & Hamill LLC grew its holdings in shares of Veracyte by 19.0% in the third quarter. Segall Bryant & Hamill LLC now owns 444,299 shares of the biotechnology company's stock worth $15,124,000 after purchasing an additional 71,086 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Veracyte by 288.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 360,871 shares of the biotechnology company's stock worth $12,284,000 after buying an additional 268,000 shares during the period. Finally, Intech Investment Management LLC bought a new stake in Veracyte during the 3rd quarter valued at $723,000.
Veracyte Price Performance
VCYT stock traded up $1.34 during midday trading on Monday, hitting $33.16. The stock had a trading volume of 622,517 shares, compared to its average volume of 933,156. The business has a 50-day moving average of $38.53 and a two-hundred day moving average of $37.72. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of -221.07 and a beta of 1.80. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $47.32.
Veracyte (NASDAQ:VCYT - Get Free Report) last released its earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.07. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The firm had revenue of $118.63 million for the quarter, compared to the consensus estimate of $110.73 million. During the same period in the prior year, the firm earned ($0.39) EPS. Research analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current year.
Insider Buying and Selling at Veracyte
In related news, Director Karin Eastham sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total value of $403,000.00. Following the sale, the director now owns 18,497 shares in the company, valued at $745,429.10. This represents a 35.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on VCYT shares. Guggenheim restated a "buy" rating and issued a $45.00 price objective on shares of Veracyte in a research report on Tuesday, February 25th. Craig Hallum started coverage on Veracyte in a report on Thursday. They set a "buy" rating and a $45.00 price target on the stock. StockNews.com cut Veracyte from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. Needham & Company LLC reiterated a "buy" rating and issued a $51.00 price objective on shares of Veracyte in a research report on Tuesday, February 25th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $37.00 target price (down previously from $38.00) on shares of Veracyte in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $43.22.
View Our Latest Research Report on Veracyte
Veracyte Profile
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Free Report)
Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm's portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.
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