Parkman Healthcare Partners LLC Sells 80,215 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Parkman Healthcare Partners LLC lowered its position in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 38.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,260 shares of the biotechnology company's stock after selling 80,215 shares during the quarter. Parkman Healthcare Partners LLC owned 0.17% of Veracyte worth $4,400,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in Veracyte by 2,331.6% during the second quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 1,329 shares during the period. CWM LLC lifted its position in shares of Veracyte by 168.3% during the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company's stock worth $33,000 after buying an additional 951 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Veracyte during the 2nd quarter worth approximately $58,000. Signature Resources Capital Management LLC bought a new position in shares of Veracyte during the 2nd quarter worth approximately $83,000. Finally, nVerses Capital LLC bought a new position in shares of Veracyte during the second quarter valued at $85,000.

Insider Buying and Selling

In other Veracyte news, CAO Jonathan Wygant sold 5,032 shares of Veracyte stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $42.89, for a total transaction of $215,822.48. Following the completion of the transaction, the chief accounting officer now directly owns 42,313 shares of the company's stock, valued at $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 available through this hyperlink. Also, Director Evan/ Fa Jones sold 5,173 shares of Veracyte stock in a transaction 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 transaction, the director now directly owns 34,343 shares of the company's stock, valued at approximately $1,209,903.89. This trade represents a 13.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

VCYT has been the subject of several analyst reports. Scotiabank lifted their price target on shares of Veracyte from $40.00 to $44.00 and gave the company a "sector outperform" rating in a report on Friday, November 8th. UBS Group lifted their price objective on Veracyte from $43.00 to $46.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Wolfe Research started coverage on Veracyte in a report on Friday, November 15th. They issued an "outperform" rating and a $50.00 price target for the company. Needham & Company LLC boosted their target price on shares of Veracyte from $37.00 to $44.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Finally, Guggenheim started coverage on shares of Veracyte in a research note on Thursday, October 10th. They issued a "buy" rating and a $40.00 target price for the company. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $41.25.

Veracyte Stock Performance

Veracyte stock traded up $0.43 during mid-day trading on Wednesday, reaching $44.09. The company's stock had a trading volume of 517,755 shares, compared to its average volume of 770,976. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of -294.67 and a beta of 1.69. Veracyte, Inc. has a 12 month low of $18.61 and a 12 month high of $44.50. The business's 50 day simple moving average is $36.10 and its 200 day simple moving average is $29.36.

Veracyte (NASDAQ:VCYT - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.16. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The company had revenue of $115.86 million during the quarter, compared to analysts' expectations of $109.81 million. During the same quarter last year, the company earned ($0.03) EPS. Veracyte's revenue for the quarter was up 28.6% compared to the same quarter last year. As a group, sell-side analysts expect that Veracyte, Inc. will post 0.32 EPS for the current year.

About Veracyte

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.