Diversified Trust Co Cuts Stake in Veracyte, Inc. (NASDAQ:VCYT)

Diversified Trust Co cut its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 47.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,049 shares of the biotechnology company's stock after selling 15,612 shares during the period. Diversified Trust Co's holdings in Veracyte were worth $675,000 at the end of the most recent reporting period.

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

Insider Activity at Veracyte

In other news, CAO Jonathan Wygant sold 5,032 shares of Veracyte stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $42.89, for a total transaction of $215,822.48. Following the completion of the sale, the chief accounting officer now owns 42,313 shares in the company, valued at approximately $1,814,804.57. This trade represents a 10.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 completion of the transaction, the director now owns 18,497 shares in the company, valued at approximately $745,429.10. This trade represents a 35.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,038 shares of company stock valued at $1,008,297. Corporate insiders own 1.30% of the company's stock.

Veracyte Stock Down 5.1 %

VCYT traded down $2.24 on Friday, hitting $41.54. The company's stock had a trading volume of 957,346 shares, compared to its average volume of 734,756. Veracyte, Inc. has a 12 month low of $18.61 and a 12 month high of $46.00. The firm has a market cap of $3.22 billion, a P/E ratio of -276.93 and a beta of 1.71. The company's 50 day simple moving average is $40.63 and its 200-day simple moving average is $33.11.

Veracyte (NASDAQ:VCYT - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.16. The firm had revenue of $115.86 million during the quarter, compared to analyst estimates of $109.81 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The business's revenue for the quarter was up 28.6% on a year-over-year basis. During the same period last year, the company earned ($0.03) earnings per share. Equities analysts predict that Veracyte, Inc. will post 0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on VCYT shares. The Goldman Sachs Group restated a "neutral" rating and issued a $37.00 price objective (down previously from $38.00) on shares of Veracyte in a research note on Thursday, December 5th. Scotiabank increased their price target on shares of Veracyte from $40.00 to $44.00 and gave the company a "sector outperform" rating in a research report on Friday, November 8th. Morgan Stanley lifted their price objective on shares of Veracyte from $26.00 to $28.00 and gave the stock an "underweight" rating in a research report on Monday, November 18th. UBS Group increased 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, November 7th. Finally, Leerink Partners raised their price target on shares of Veracyte from $35.00 to $40.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Veracyte presently has a consensus rating of "Moderate Buy" and an average price target of $41.13.

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.