QRG Capital Management Inc. Raises Stock Holdings in Veracyte, Inc. (NASDAQ:VCYT)

QRG Capital Management Inc. boosted its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,816 shares of the biotechnology company’s stock after purchasing an additional 5,400 shares during the quarter. QRG Capital Management Inc. owned about 0.18% of Veracyte worth $4,589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Veracyte by 2,331.6% in the 2nd quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 1,329 shares in the last quarter. CWM LLC lifted its position in Veracyte by 168.3% during the second quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 951 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Veracyte in the second quarter valued at approximately $58,000. Signature Resources Capital Management LLC purchased a new position in Veracyte in the second quarter worth $83,000. Finally, nVerses Capital LLC acquired a new position in shares of Veracyte during the second quarter worth $85,000.

Insider Buying and Selling at Veracyte

In other Veracyte news, insider John Leite sold 5,479 shares of Veracyte stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.78, for a total transaction of $163,164.62. Following the completion of the transaction, the insider now owns 76,174 shares in the company, valued at approximately $2,268,461.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider John Leite sold 5,479 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total transaction of $163,164.62. Following the sale, the insider now owns 76,174 shares of the company’s stock, valued at $2,268,461.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Evan/ Fa Jones sold 1,032 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $30.03, for a total transaction of $30,990.96. Following the completion of the transaction, the director now owns 46,413 shares of the company’s stock, valued at approximately $1,393,782.39. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,141 shares of company stock valued at $1,035,116. 1.30% of the stock is owned by insiders.

Veracyte Trading Up 2.7 %

Shares of NASDAQ:VCYT opened at $35.93 on Wednesday. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $36.26. The company’s 50 day moving average is $32.96 and its 200 day moving average is $26.72.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.10. The firm had revenue of $114.43 million for the quarter, compared to analyst estimates of $100.27 million. Veracyte had a negative net margin of 13.52% and a positive return on equity of 1.52%. The business’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.12) earnings per share. As a group, research analysts expect that Veracyte, Inc. will post 0.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on VCYT shares. Guggenheim began coverage on Veracyte in a research note on Thursday, October 10th. They set a “buy” rating and a $40.00 target price on the stock. Needham & Company LLC boosted their price target on Veracyte from $31.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Morgan Stanley increased their price objective on shares of Veracyte from $21.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. UBS Group started coverage on shares of Veracyte in a research note on Wednesday, October 16th. They set a “buy” rating and a $43.00 price target on the stock. Finally, Leerink Partners raised their price target on shares of Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat, Veracyte has a consensus rating of “Moderate Buy” and a consensus price target of $35.67.

Veracyte Company Profile

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.