Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Quantum Private Wealth LLC

Quantum Private Wealth LLC reduced its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 5.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,461 shares of the biotechnology company’s stock after selling 655 shares during the quarter. Quantum Private Wealth LLC’s holdings in Veracyte were worth $288,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Credit Suisse AG lifted its holdings in Veracyte by 0.6% in the third quarter. Credit Suisse AG now owns 74,016 shares of the biotechnology company’s stock valued at $1,229,000 after acquiring an additional 454 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of Veracyte by 8.7% in the second quarter. Ameritas Investment Partners Inc. now owns 6,012 shares of the biotechnology company’s stock valued at $153,000 after purchasing an additional 480 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Veracyte by 9.0% during the second quarter. PNC Financial Services Group Inc. now owns 6,567 shares of the biotechnology company’s stock worth $167,000 after buying an additional 544 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Veracyte by 2.0% during the second quarter. The Manufacturers Life Insurance Company now owns 29,246 shares of the biotechnology company’s stock worth $745,000 after buying an additional 562 shares during the period. Finally, Diversified Trust Co increased its holdings in Veracyte by 4.0% in the fourth quarter. Diversified Trust Co now owns 14,810 shares of the biotechnology company’s stock valued at $407,000 after buying an additional 575 shares in the last quarter.

Insiders Place Their Bets

In other news, Director Karin Eastham sold 10,000 shares of Veracyte stock in a transaction on Monday, April 1st. The stock was sold at an average price of $21.65, for a total value of $216,500.00. Following the completion of the sale, the director now owns 33,125 shares of the company’s stock, valued at $717,156.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on VCYT. Needham & Company LLC raised their price objective on Veracyte from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. William Blair reaffirmed an “outperform” rating on shares of Veracyte in a research note on Friday, February 23rd. The Goldman Sachs Group lowered their price objective on shares of Veracyte from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Morgan Stanley cut their target price on shares of Veracyte from $22.00 to $21.00 and set an “underweight” rating for the company in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Veracyte has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

Veracyte Stock Performance

Veracyte stock traded up $0.36 during midday trading on Wednesday, reaching $19.28. 191,347 shares of the company were exchanged, compared to its average volume of 620,287. The firm’s 50-day simple moving average is $22.50 and its 200-day simple moving average is $24.01. Veracyte, Inc. has a 1 year low of $18.73 and a 1 year high of $30.52. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -18.59 and a beta of 1.62.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. The business had revenue of $98.20 million during the quarter, compared to the consensus estimate of $95.49 million. Veracyte had a negative net margin of 20.61% and a negative return on equity of 2.02%. On average, analysts forecast that Veracyte, Inc. will post -0.29 EPS for the current fiscal 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.