Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Oppenheimer Asset Management Inc.

Posted by Defense World Staff on May 9th, 2023

Oppenheimer Asset Management Inc. trimmed its stake in shares of Veracyte, Inc. (NASDAQ:VCYT – Get Rating) by 7.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,043 shares of the biotechnology company’s stock after selling 855 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Veracyte were worth $262,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of VCYT. State Street Corp grew its stake in Veracyte by 45.5% during the 1st quarter. State Street Corp now owns 3,945,870 shares of the biotechnology company’s stock worth $108,788,000 after purchasing an additional 1,234,244 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Veracyte by 1,717.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 807,066 shares of the biotechnology company’s stock worth $13,397,000 after acquiring an additional 762,651 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Veracyte by 121.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,049,845 shares of the biotechnology company’s stock worth $20,892,000 after acquiring an additional 575,949 shares in the last quarter. Candriam Luxembourg S.C.A. acquired a new position in shares of Veracyte during the 1st quarter worth about $10,440,000. Finally, Fisher Asset Management LLC boosted its position in shares of Veracyte by 20.0% during the 4th quarter. Fisher Asset Management LLC now owns 2,085,604 shares of the biotechnology company’s stock worth $49,491,000 after acquiring an additional 348,096 shares in the last quarter.

Veracyte Stock Performance

Veracyte stock opened at $22.63 on Tuesday. The stock has a 50-day simple moving average of $22.47 and a 200-day simple moving average of $24.18. The company has a market capitalization of $1.64 billion, a P/E ratio of -55.20 and a beta of 1.40. Veracyte, Inc. has a fifty-two week low of $14.85 and a fifty-two week high of $32.40.

Veracyte (NASDAQ:VCYT – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The biotechnology company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.03. The firm had revenue of $82.40 million during the quarter, compared to the consensus estimate of $75.75 million. Veracyte had a negative return on equity of 2.84% and a negative net margin of 9.70%. The firm’s revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.20) EPS. As a group, analysts forecast that Veracyte, Inc. will post -0.52 earnings per share for the current year.

Insiders Place Their Bets

In other Veracyte news, Director Bonnie H. Anderson sold 34,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $22.76, for a total transaction of $773,840.00. Following the transaction, the director now owns 53,967 shares in the company, valued at approximately $1,228,288.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

VCYT has been the subject of several analyst reports. Needham & Company LLC upped their price objective on Veracyte from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, February 23rd. Raymond James cut Veracyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 18th. Finally, StockNews.com started coverage on Veracyte in a report on Thursday, March 16th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.20.

Veracyte Company Profile

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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.