ARK Investment Management LLC decreased its position in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 27.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,920,745 shares of the biotechnology company's stock after selling 1,888,552 shares during the quarter. Veracyte accounts for approximately 1.5% of ARK Investment Management LLC's holdings, making the stock its 20th biggest holding. ARK Investment Management LLC owned approximately 6.44% of Veracyte worth $167,502,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in VCYT. Allspring Global Investments Holdings LLC grew its holdings in shares of Veracyte by 9.1% in 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 during the last quarter. SG Americas Securities LLC acquired a new position in Veracyte during the 1st quarter worth about $140,000. Sei Investments Co. lifted its position in 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 buying an additional 24,945 shares in the last quarter. Inspire Investing LLC lifted its position in Veracyte by 15.3% during the 1st quarter. Inspire Investing LLC now owns 16,122 shares of the biotechnology company's stock worth $357,000 after buying an additional 2,139 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in Veracyte by 9.7% during the 1st quarter. ProShare Advisors LLC now owns 18,342 shares of the biotechnology company's stock worth $406,000 after buying an additional 1,625 shares in the last quarter.
Analyst Ratings Changes
Several research analysts recently issued reports on VCYT shares. The Goldman Sachs Group upped their price target on shares of Veracyte from $34.00 to $38.00 and gave the stock a "buy" rating in a research report on Thursday. Morgan Stanley upped their price target 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. Scotiabank upped their price target on shares of Veracyte from $40.00 to $44.00 and gave the stock a "sector outperform" rating in a research report on Friday. UBS Group upped their target price on shares of Veracyte from $43.00 to $46.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Guggenheim assumed coverage on shares of Veracyte in a research report on Thursday, October 10th. They set a "buy" rating and a $40.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Based on data from MarketBeat, Veracyte presently has a consensus rating of "Moderate Buy" and an average target price of $39.71.
Read Our Latest Report on VCYT
Insider Buying and Selling
In related news, Director Evan/ Fa Jones sold 5,173 shares of the stock in a transaction that occurred 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 approximately $1,209,903.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Evan/ Fa Jones sold 5,173 shares of the stock in a transaction that occurred 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 approximately $1,209,903.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Leite sold 5,479 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $29.78, for a total value of $163,164.62. Following the sale, the insider now directly owns 76,174 shares of the company's stock, valued at approximately $2,268,461.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 31,109 shares of company stock valued at $1,004,125. 1.30% of the stock is owned by corporate insiders.
Veracyte Trading Down 2.3 %
Shares of VCYT stock traded down $0.86 on Friday, reaching $36.48. The company had a trading volume of 902,599 shares, compared to its average volume of 763,608. The stock has a market cap of $2.80 billion, a PE ratio of -248.93 and a beta of 1.67. The company has a 50-day moving average of $33.17 and a 200-day moving average of $26.86. Veracyte, Inc. has a 12 month low of $18.61 and a 12 month high of $41.43.
Veracyte (NASDAQ:VCYT - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.17. The company had revenue of $115.86 million during the quarter, compared to analysts' expectations of $109.81 million. Veracyte had a positive return on equity of 3.07% and a negative net margin of 2.18%. Veracyte's revenue was up 28.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.03) EPS. Sell-side analysts anticipate that Veracyte, Inc. will post 0.16 earnings per share for the current year.
About Veracyte
(
Free Report)
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.
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