Sei Investments Co. Purchases 90,863 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Sei Investments Co. boosted its position in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 33.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 360,106 shares of the biotechnology company's stock after acquiring an additional 90,863 shares during the quarter. Sei Investments Co. owned 0.46% of Veracyte worth $14,260,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. HighTower Advisors LLC bought a new position in shares of Veracyte in the 3rd quarter worth approximately $554,000. Eventide Asset Management LLC increased its holdings in Veracyte by 20.2% during the third quarter. Eventide Asset Management LLC now owns 677,883 shares of the biotechnology company's stock valued at $23,075,000 after buying an additional 113,883 shares during the last quarter. Erste Asset Management GmbH purchased a new position in shares of Veracyte during the 3rd quarter worth $574,000. Neo Ivy Capital Management bought a new stake in shares of Veracyte during the 3rd quarter valued at $820,000. Finally, Intech Investment Management LLC bought a new stake in shares of Veracyte during the 3rd quarter valued at $723,000.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. UBS Group boosted their price target on Veracyte from $46.00 to $49.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. StockNews.com lowered shares of Veracyte from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. Craig Hallum assumed coverage on shares of Veracyte in a report on Thursday, March 20th. They set a "buy" rating and a $45.00 price target on the stock. Guggenheim reissued a "buy" rating and issued a $45.00 price objective on shares of Veracyte in a research note on Tuesday, February 25th. Finally, Needham & Company LLC restated a "buy" rating and set a $51.00 target price on shares of Veracyte in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $43.40.

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Veracyte Stock Down 1.6 %

NASDAQ VCYT traded down $0.47 during trading on Monday, hitting $29.65. 1,066,730 shares of the stock traded hands, compared to its average volume of 836,833. The company has a market capitalization of $2.31 billion, a P/E ratio of -197.67 and a beta of 1.80. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $47.32. The firm has a 50-day simple moving average of $37.57 and a 200-day simple moving average of $37.80.

Veracyte (NASDAQ:VCYT - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $118.63 million for the quarter, compared to analysts' expectations of $110.73 million. During the same quarter in the previous year, the business posted ($0.39) earnings per share. As a group, research analysts predict that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.

Insider Activity at Veracyte

In other Veracyte 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 transaction of $403,000.00. Following the sale, the director now directly owns 18,497 shares in the company, valued at $745,429.10. This represents a 35.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.30% of the stock is owned by insiders.

Veracyte Company Profile

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.