Exchange Traded Concepts LLC Has $2.75 Million Stock Position in Veracyte, Inc. (NASDAQ:VCYT)

Exchange Traded Concepts LLC lessened its stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 23.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,429 shares of the biotechnology company's stock after selling 21,414 shares during the quarter. Exchange Traded Concepts LLC owned about 0.09% of Veracyte worth $2,749,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VCYT. HighTower Advisors LLC purchased a new stake in shares of Veracyte during the third quarter valued at $554,000. Eventide Asset Management LLC boosted its holdings in shares of Veracyte by 20.2% in the third 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 period. Erste Asset Management GmbH purchased a new position in shares of Veracyte in the third quarter worth approximately $574,000. Intech Investment Management LLC acquired 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 in the 3rd quarter valued at approximately $820,000.

Insider Buying and Selling

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 value of $215,822.48. Following the transaction, the chief accounting officer now directly owns 42,313 shares in the company, valued at approximately $1,814,804.57. The trade was a 10.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Karin Eastham sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 of the company's stock, valued at approximately $745,429.10. The trade was a 35.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,038 shares of company stock worth $1,008,297. 1.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on VCYT. Leerink Partners lifted their price objective on shares of Veracyte from $35.00 to $40.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Needham & Company LLC upped their price target on Veracyte from $37.00 to $44.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. UBS Group raised their price objective on Veracyte from $43.00 to $46.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $37.00 target price (down previously from $38.00) on shares of Veracyte in a report on Thursday, December 5th. 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 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Veracyte presently has an average rating of "Moderate Buy" and an average target price of $41.13.

Veracyte Trading Down 0.6 %

NASDAQ VCYT traded down $0.26 during trading on Friday, reaching $43.81. The company's stock had a trading volume of 652,528 shares, compared to its average volume of 657,056. The business has a 50-day moving average price of $41.81 and a 200-day moving average price of $34.85. Veracyte, Inc. has a 1-year low of $18.61 and a 1-year high of $46.00. The stock has a market capitalization of $3.40 billion, a PE ratio of -292.07 and a beta of 1.71.

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