Veracyte, Inc. (NASDAQ:VCYT) Position Boosted by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 288.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 360,871 shares of the biotechnology company’s stock after acquiring an additional 268,000 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.47% of Veracyte worth $12,284,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Blue Trust Inc. raised 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 worth $31,000 after buying an additional 1,329 shares in the last quarter. CWM LLC grew its holdings in Veracyte by 168.3% during the second quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 951 shares during the period. Castleview Partners LLC bought a new stake in Veracyte in the third quarter worth about $87,000. Values First Advisors Inc. acquired a new stake in Veracyte in the 3rd quarter valued at about $91,000. Finally, KBC Group NV boosted its position in shares of Veracyte by 13.7% during the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 323 shares in the last quarter.

Insider Activity

In related news, insider John Leite sold 5,479 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total transaction of $163,164.62. Following the completion of the sale, the insider now owns 76,174 shares in the company, valued at $2,268,461.72. This trade represents a 6.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Evan/ Fa Jones sold 5,173 shares of Veracyte stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $35.23, for a total transaction of $182,244.79. Following the completion of the transaction, the director now owns 34,343 shares of the company’s stock, valued at $1,209,903.89. This trade represents a 13.09 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Veracyte Stock Down 0.7 %

Shares of NASDAQ:VCYT opened at $38.94 on Friday. The business has a 50 day moving average price of $34.58 and a 200 day moving average price of $28.04. The company has a market cap of $3.02 billion, a price-to-earnings ratio of -261.33 and a beta of 1.67. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $41.43.

Veracyte (NASDAQ:VCYT) last announced its earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.16. The business had revenue of $115.86 million for the quarter, compared to analyst estimates of $109.81 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. Veracyte’s revenue was up 28.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. Analysts anticipate that Veracyte, Inc. will post 0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on VCYT shares. Needham & Company LLC lifted their price target on shares of Veracyte from $37.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Guggenheim assumed coverage on Veracyte in a research report on Thursday, October 10th. They set a “buy” rating and a $40.00 target price on the stock. Wolfe Research started coverage on Veracyte in a research report on Friday, November 15th. They issued an “outperform” rating and a $50.00 price target for the company. Morgan Stanley lifted their price target on Veracyte from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Monday. Finally, Leerink Partners upped their price objective on shares of Veracyte from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat, Veracyte currently has an average rating of “Moderate Buy” and an average target price of $41.25.

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.