Strs Ohio Raises Position in Veracyte, Inc. (NASDAQ:VCYT)

Strs Ohio raised its holdings in shares of Veracyte, Inc. (NASDAQ:VCYTGet Rating) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,600 shares of the biotechnology company’s stock after acquiring an additional 900 shares during the quarter. Strs Ohio owned approximately 0.06% of Veracyte worth $756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in Veracyte by 21.0% in the 1st quarter. JPMorgan Chase & Co. now owns 55,320 shares of the biotechnology company’s stock worth $1,525,000 after purchasing an additional 9,589 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Veracyte by 48.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,959 shares of the biotechnology company’s stock worth $164,000 after purchasing an additional 1,953 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Veracyte by 54.5% in the 1st quarter. MetLife Investment Management LLC now owns 37,950 shares of the biotechnology company’s stock worth $1,046,000 after purchasing an additional 13,393 shares in the last quarter. Synovus Financial Corp lifted its stake in Veracyte by 65.4% in the 1st quarter. Synovus Financial Corp now owns 18,806 shares of the biotechnology company’s stock worth $515,000 after purchasing an additional 7,434 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. purchased a new stake in Veracyte in the 1st quarter worth $10,440,000.

Insider Activity at Veracyte

In related news, insider Giulia C. Kennedy sold 1,023 shares of the company’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $25.00, for a total transaction of $25,575.00. Following the transaction, the insider now directly owns 68,001 shares in the company, valued at approximately $1,700,025. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Giulia C. Kennedy sold 1,023 shares of the business’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $25.00, for a total transaction of $25,575.00. Following the transaction, the insider now directly owns 68,001 shares in the company, valued at approximately $1,700,025. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Bonnie H. Anderson sold 63,247 shares of the business’s stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $25.13, for a total value of $1,589,397.11. Following the completion of the transaction, the director now directly owns 62,961 shares of the company’s stock, valued at approximately $1,582,209.93. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 152,962 shares of company stock worth $4,136,056. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Scotiabank assumed coverage on shares of Veracyte in a research note on Wednesday, January 4th. They issued a “sector outperform” rating and a $33.00 price target on the stock. William Blair restated an “outperform” rating on shares of Veracyte in a report on Wednesday, November 2nd. Morgan Stanley reduced their target price on shares of Veracyte from $23.00 to $22.00 and set an “underweight” rating on the stock in a report on Friday, November 4th. Needham & Company LLC boosted their target price on shares of Veracyte from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, November 3rd. Finally, StockNews.com upgraded shares of Veracyte from a “sell” rating to a “hold” rating in a report on Thursday, January 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.86.

Veracyte Trading Up 2.2 %

Shares of NASDAQ:VCYT opened at $26.62 on Tuesday. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -44.37 and a beta of 1.43. Veracyte, Inc. has a 12 month low of $14.85 and a 12 month high of $33.23. The firm’s 50-day moving average is $26.17 and its 200 day moving average is $22.98.

Veracyte (NASDAQ:VCYTGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The biotechnology company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.12. The company had revenue of $75.59 million for the quarter, compared to the consensus estimate of $67.00 million. Veracyte had a negative net margin of 15.25% and a negative return on equity of 4.03%. As a group, equities analysts forecast that Veracyte, Inc. will post -0.61 EPS for the current fiscal year.

Veracyte Company Profile

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Veracyte, Inc operates as a diagnostics company worldwide. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas, which are used to determine patients with indeterminate results are benign to avoid unnecessary surgery; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Genomic Sequencing Classifier and Percepta Nasal Swab Test for lung cancer diagnosis; Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis; and Immunoscore Colon Cancer test for colon cancer diagnosis.

Further Reading

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Institutional Ownership by Quarter for Veracyte (NASDAQ:VCYT)

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