Harbor Capital Advisors Inc. Sells 136,089 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Harbor Capital Advisors Inc. lessened its stake in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 79.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,745 shares of the biotechnology company's stock after selling 136,089 shares during the period. Harbor Capital Advisors Inc.'s holdings in Veracyte were worth $1,376,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. State Street Corp lifted its holdings in Veracyte by 0.3% in the third quarter. State Street Corp now owns 2,916,515 shares of the biotechnology company's stock worth $99,278,000 after acquiring an additional 7,920 shares during the last quarter. Geode Capital Management LLC raised its stake in Veracyte by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,844,713 shares of the biotechnology company's stock valued at $62,806,000 after acquiring an additional 17,921 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of Veracyte by 67.4% during the second quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company's stock valued at $26,907,000 after purchasing an additional 500,020 shares in the last quarter. Granite Investment Partners LLC grew its position in Veracyte by 2.1% in the 2nd quarter. Granite Investment Partners LLC now owns 934,994 shares of the biotechnology company's stock valued at $20,261,000 after buying an additional 19,244 shares in the last quarter. Finally, Eventide Asset Management LLC boosted its stake 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.

Veracyte Stock Performance

Shares of NASDAQ:VCYT traded up $0.89 during midday trading on Monday, hitting $42.43. 307,877 shares of the stock were exchanged, compared to its average volume of 670,296. The business's fifty day simple moving average is $40.78 and its two-hundred day simple moving average is $33.39. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $46.00. The company has a market capitalization of $3.29 billion, a PE ratio of -282.87 and a beta of 1.71.

Veracyte (NASDAQ:VCYT - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $109.81 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The firm's revenue was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.03) earnings per share. As a group, equities analysts anticipate that Veracyte, Inc. will post 0.38 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on the stock. The Goldman Sachs Group reissued a "neutral" rating and set a $37.00 target price (down from $38.00) on shares of Veracyte in a research note on Thursday, December 5th. Scotiabank lifted their price target on Veracyte from $40.00 to $44.00 and gave the stock a "sector outperform" rating in a research note on Friday, November 8th. Guggenheim began coverage on shares of Veracyte in a research note on Thursday, October 10th. They set a "buy" rating and a $40.00 price objective for the company. Wolfe Research assumed coverage on shares of Veracyte in a research report on Friday, November 15th. They issued an "outperform" rating and a $50.00 target price on the stock. Finally, Needham & Company LLC upped their price target on shares of Veracyte from $37.00 to $44.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Veracyte presently has an average rating of "Moderate Buy" and an average target price of $41.13.

Insider Activity at Veracyte

In related news, Director Karin Eastham sold 10,000 shares of the company's stock in a transaction on 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 sale, the director now directly owns 18,497 shares of the company's stock, valued at approximately $745,429.10. This represents a 35.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Leite sold 1,050 shares of Veracyte stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $43.25, for a total transaction of $45,412.50. Following the completion of the transaction, the insider now owns 73,810 shares in the company, valued at $3,192,282.50. This trade represents a 1.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,038 shares of company stock valued at $1,008,297. Insiders own 1.30% of the company's stock.

About Veracyte

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.