M&T Bank Corp Acquires 10,121 Shares of Veracyte, Inc. (NASDAQ:VCYT)

M&T Bank Corp raised its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 16.5% during the fourth quarter, Holdings Channel reports. The fund owned 71,382 shares of the biotechnology company’s stock after buying an additional 10,121 shares during the period. M&T Bank Corp’s holdings in Veracyte were worth $2,827,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of VCYT. Jones Financial Companies Lllp grew its holdings in shares of Veracyte by 49.7% in the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 237 shares during the last quarter. KBC Group NV grew its holdings in shares of Veracyte by 13.7% in the third quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock worth $91,000 after purchasing an additional 323 shares during the last quarter. Principal Securities Inc. grew its holdings in shares of Veracyte by 34.1% in the fourth quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock worth $76,000 after purchasing an additional 485 shares during the last quarter. US Bancorp DE grew its holdings in shares of Veracyte by 57.4% in the fourth quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock worth $70,000 after purchasing an additional 647 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Veracyte by 0.6% in the fourth quarter. Rhumbline Advisers now owns 123,324 shares of the biotechnology company’s stock worth $4,884,000 after purchasing an additional 675 shares during the last quarter.

Veracyte Trading Down 1.5 %

Shares of Veracyte stock opened at $32.02 on Friday. The firm has a market capitalization of $2.48 billion, a P/E ratio of -213.47 and a beta of 1.80. The business has a fifty day simple moving average of $40.61 and a two-hundred day simple moving average of $37.69. Veracyte, Inc. has a 12 month low of $18.61 and a 12 month high of $47.32.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.29 by $0.07. The business had revenue of $118.63 million during the quarter, compared to analyst estimates of $110.73 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. During the same quarter last year, the firm posted ($0.39) earnings per share. Analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Veracyte from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Wolfe Research assumed coverage on Veracyte in a research note on Friday, November 15th. They issued an “outperform” rating and a $50.00 price target for the company. Guggenheim reaffirmed a “buy” rating and issued a $45.00 price target on shares of Veracyte in a research note on Tuesday, February 25th. Morgan Stanley raised their price target on Veracyte from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Monday, November 18th. Finally, StockNews.com lowered Veracyte from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Insider Buying and Selling at Veracyte

In other news, Director Karin Eastham sold 10,000 shares of Veracyte stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total value of $403,000.00. Following the completion of the transaction, the director now owns 18,497 shares of the company’s stock, valued at $745,429.10. The trade was a 35.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Veracyte Company Profile

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.