Veracyte, Inc. $VCYT Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lowered its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 6.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 18,997 shares of the biotechnology company’s stock after selling 1,384 shares during the period. ProShare Advisors LLC’s holdings in Veracyte were worth $513,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VCYT. Campbell & CO Investment Adviser LLC boosted its position in shares of Veracyte by 127.4% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 173,638 shares of the biotechnology company’s stock valued at $4,693,000 after purchasing an additional 97,296 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Veracyte by 19.2% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 279,188 shares of the biotechnology company’s stock valued at $7,546,000 after purchasing an additional 44,992 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in Veracyte by 62.4% during the second quarter. Los Angeles Capital Management LLC now owns 30,013 shares of the biotechnology company’s stock worth $811,000 after buying an additional 11,531 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Veracyte in the second quarter worth approximately $989,000. Finally, Vestmark Advisory Solutions Inc. increased its holdings in shares of Veracyte by 84.2% in the second quarter. Vestmark Advisory Solutions Inc. now owns 177,212 shares of the biotechnology company’s stock valued at $4,790,000 after buying an additional 81,007 shares in the last quarter.

Insider Buying and Selling

In other Veracyte news, CFO Rebecca Chambers sold 7,000 shares of Veracyte stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $41.00, for a total transaction of $287,000.00. Following the completion of the sale, the chief financial officer owned 126,158 shares of the company’s stock, valued at $5,172,478. This trade represents a 5.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Karin Eastham sold 9,674 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $40.02, for a total transaction of $387,153.48. Following the completion of the transaction, the director directly owned 13,554 shares in the company, valued at $542,431.08. This trade represents a 41.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 84,635 shares of company stock worth $3,490,004. Insiders own 1.40% of the company’s stock.

Veracyte Price Performance

NASDAQ:VCYT opened at $39.93 on Thursday. The stock has a market cap of $3.16 billion, a PE ratio of 121.00 and a beta of 2.16. Veracyte, Inc. has a fifty-two week low of $22.61 and a fifty-two week high of $47.32. The stock’s 50-day moving average is $36.07 and its two-hundred day moving average is $30.62.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.19. Veracyte had a net margin of 5.50% and a return on equity of 6.07%. The business had revenue of $131.87 million during the quarter, compared to analyst estimates of $124.62 million. During the same period in the prior year, the firm earned $0.33 earnings per share. The firm’s revenue was up 13.8% compared to the same quarter last year. Veracyte has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on VCYT. Weiss Ratings reissued a “hold (c)” rating on shares of Veracyte in a research note on Thursday, November 13th. Needham & Company LLC upped their target price on Veracyte from $41.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Morgan Stanley lifted their price target on Veracyte from $28.00 to $40.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 11th. Wall Street Zen upgraded Veracyte from a “buy” rating to a “strong-buy” rating in a report on Sunday. Finally, Guggenheim upped their price objective on shares of Veracyte from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.38.

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.