Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC reduced its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 23.6% in the 4th quarter, HoldingsChannel reports. The fund owned 69,429 shares of the biotechnology company’s stock after selling 21,414 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Veracyte were worth $2,749,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Veracyte during the second quarter worth about $58,000. Castleview Partners LLC purchased a new stake in Veracyte in the third quarter valued at approximately $87,000. Values First Advisors Inc. acquired a new stake in shares of Veracyte in the third quarter valued at approximately $91,000. KBC Group NV grew its position in shares of Veracyte by 13.7% during the third quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock worth $91,000 after acquiring an additional 323 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Veracyte by 21.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,778 shares of the biotechnology company’s stock valued at $94,000 after acquiring an additional 496 shares during the period.

Analysts Set New Price Targets

A number of brokerages have recently commented on VCYT. 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 report on Thursday, November 7th. Guggenheim assumed coverage on shares of Veracyte in a report on Thursday, October 10th. They issued a “buy” rating and a $40.00 target price on the stock. Scotiabank increased their price target on shares of Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a report on Friday, November 8th. 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 report on Thursday, December 5th. Finally, Morgan Stanley boosted their target price on Veracyte from $26.00 to $28.00 and gave the stock an “underweight” rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.13.

Insider Activity at Veracyte

In other Veracyte news, Director Karin Eastham sold 10,000 shares of the stock in a transaction 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 transaction, the director now owns 18,497 shares of the company’s stock, valued at $745,429.10. This represents a 35.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Jonathan Wygant sold 956 shares of Veracyte stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $43.36, for a total value of $41,452.16. Following the completion of the sale, the chief accounting officer now directly owns 40,270 shares of the company’s stock, valued at approximately $1,746,107.20. This represents a 2.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,038 shares of company stock valued at $1,008,297 over the last quarter. Insiders own 1.30% of the company’s stock.

Veracyte Stock Performance

Shares of VCYT stock opened at $43.81 on Friday. The stock has a fifty day moving average price of $41.81 and a 200 day moving average price of $34.76. The stock has a market cap of $3.40 billion, a PE ratio of -292.07 and a beta of 1.71. Veracyte, Inc. has a 1 year low of $18.61 and a 1 year high of $46.00.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share (EPS) for the quarter, topping 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 business had revenue of $115.86 million during the quarter, compared to the consensus estimate of $109.81 million. During the same quarter in the previous year, the company posted ($0.03) EPS. The business’s revenue was up 28.6% on a year-over-year basis. As a group, equities research analysts predict that Veracyte, Inc. will post 0.38 earnings per share for the current year.

Veracyte Company 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.