Veracyte, Inc. (NASDAQ:VCYT) Shares Purchased by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 90.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,156 shares of the biotechnology company's stock after buying an additional 8,615 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Veracyte were worth $719,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC bought a new stake in shares of Veracyte during the third quarter valued at approximately $554,000. Eventide Asset Management LLC raised its position in Veracyte by 20.2% during the 3rd quarter. Eventide Asset Management LLC now owns 677,883 shares of the biotechnology company's stock valued at $23,075,000 after purchasing an additional 113,883 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Veracyte in the 3rd quarter worth $574,000. Neo Ivy Capital Management bought a new position in Veracyte during the 3rd quarter worth about $820,000. Finally, Intech Investment Management LLC bought a new position in shares of Veracyte during the third quarter valued at approximately $723,000.

Insider Transactions at Veracyte

In related news, Director Karin Eastham sold 10,000 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total transaction of $403,000.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts have recently commented on VCYT shares. Stephens reissued an "overweight" rating and issued a $45.00 price target on shares of Veracyte in a research report on Wednesday. UBS Group raised their price target on shares of Veracyte from $46.00 to $49.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. The Goldman Sachs Group reiterated a "neutral" rating and set a $37.00 price objective (down previously from $38.00) on shares of Veracyte in a research note on Thursday, December 5th. Guggenheim restated a "buy" rating and issued a $45.00 target price on shares of Veracyte in a research note on Tuesday, February 25th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $51.00 price target on shares of Veracyte in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $43.40.

Veracyte Stock Performance

Shares of Veracyte stock traded down $0.98 during trading on Friday, hitting $30.12. 710,014 shares of the company's stock were exchanged, compared to its average volume of 835,914. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -200.80 and a beta of 1.80. The business has a 50-day simple moving average of $37.57 and a 200-day simple moving average of $37.80. 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 issued its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 EPS 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 business had revenue of $118.63 million for the quarter, compared to analysts' expectations of $110.73 million. During the same quarter last year, the company earned ($0.39) EPS. On average, equities analysts anticipate that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Veracyte 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.