127,190 Shares in Veracyte, Inc. (NASDAQ:VCYT) Purchased by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC bought a new position in shares of Veracyte, Inc. (NASDAQ:VCYT) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 127,190 shares of the biotechnology company’s stock, valued at approximately $4,330,000. Rice Hall James & Associates LLC owned approximately 0.17% of Veracyte at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake 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 purchasing an additional 1,329 shares during the last quarter. CWM LLC grew its stake in Veracyte by 168.3% during the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock worth $33,000 after buying an additional 951 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Veracyte during the 2nd quarter worth $58,000. Signature Resources Capital Management LLC purchased a new position in Veracyte during the 2nd quarter worth $83,000. Finally, nVerses Capital LLC purchased a new position in Veracyte during the 2nd quarter worth $85,000.

Analyst Ratings Changes

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

Veracyte Trading Down 3.6 %

VCYT stock opened at $33.74 on Friday. The firm has a 50 day moving average of $32.78 and a 200-day moving average of $26.28. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $35.51. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -44.99 and a beta of 1.67.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.10. The business 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% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.12) EPS. Sell-side analysts forecast that Veracyte, Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Veracyte news, Director Jens Holstein sold 5,000 shares of Veracyte stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $29.00, for a total transaction of $145,000.00. Following the completion of the sale, the director now owns 27,878 shares of the company’s stock, valued at $808,462. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Veracyte news, Director Jens Holstein sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $29.00, for a total value of $145,000.00. Following the transaction, the director now directly owns 27,878 shares in the company, valued at $808,462. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Leite sold 5,479 shares of the business’s 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 directly owns 76,174 shares of the company’s stock, valued at approximately $2,268,461.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,141 shares of company stock worth $1,180,116. Corporate insiders own 1.30% of the company’s stock.

Veracyte 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.