Grandeur Peak Global Advisors LLC reduced its stake in shares of Veracyte Inc (NASDAQ:VCYT) by 81.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,914 shares of the biotechnology company’s stock after selling 262,900 shares during the period. Grandeur Peak Global Advisors LLC owned 0.17% of Veracyte worth $560,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. GSA Capital Partners LLP bought a new position in Veracyte during the second quarter valued at about $171,000. Bank of Montreal Can bought a new position in Veracyte during the second quarter valued at about $182,000. Acuta Capital Partners LLC raised its holdings in Veracyte by 0.7% during the first quarter. Acuta Capital Partners LLC now owns 3,318,000 shares of the biotechnology company’s stock valued at $18,448,000 after buying an additional 22,889 shares in the last quarter. Sigma Planning Corp bought a new position in Veracyte during the second quarter valued at about $217,000. Finally, Engineers Gate Manager LP bought a new position in Veracyte during the second quarter valued at about $231,000. Institutional investors own 71.54% of the company’s stock.

In related news, insider Christopher M. Hall sold 20,000 shares of Veracyte stock in a transaction dated Tuesday, June 19th. The stock was sold at an average price of $9.02, for a total transaction of $180,400.00. Following the sale, the insider now directly owns 42,964 shares of the company’s stock, valued at $387,535.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Bonnie H. Anderson sold 6,000 shares of Veracyte stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $12.00, for a total value of $72,000.00. Following the sale, the chairman now directly owns 58,541 shares in the company, valued at $702,492. The disclosure for this sale can be found here. Insiders sold 655,459 shares of company stock worth $6,996,166 over the last quarter. 13.70% of the stock is currently owned by corporate insiders.

Several equities analysts have weighed in on VCYT shares. ValuEngine upgraded Veracyte from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 23rd. Zacks Investment Research upgraded Veracyte from a “sell” rating to a “hold” rating in a report on Thursday, May 24th. BidaskClub upgraded Veracyte from a “hold” rating to a “buy” rating in a report on Tuesday, June 19th. Finally, Piper Jaffray Companies raised their target price on Veracyte to $11.00 and gave the company a “neutral” rating in a report on Tuesday, July 24th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $11.50.

Veracyte stock opened at $11.37 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 3.71 and a current ratio of 4.01. The stock has a market capitalization of $396.44 million, a PE ratio of -12.49 and a beta of 1.79. Veracyte Inc has a 52 week low of $5.23 and a 52 week high of $12.86.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings data on Monday, July 23rd. The biotechnology company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.09. The business had revenue of $22.75 million for the quarter, compared to analyst estimates of $20.67 million. Veracyte had a negative return on equity of 91.03% and a negative net margin of 38.69%. analysts anticipate that Veracyte Inc will post -0.9 EPS for the current year.

Veracyte Company Profile

Veracyte, Inc operates as a genomic diagnostics company in the United States. The company uses genomic technology to resolve diagnostic uncertainty. It offers Afirma Thyroid FNA Analysis solution; cytopathology testing services; and the Afirma Malignancy Classifiers to manage thyroid nodule patients.

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Institutional Ownership by Quarter for Veracyte (NASDAQ:VCYT)

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