Skandinaviska Enskilda Banken AB publ Sells 2,236 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Skandinaviska Enskilda Banken AB publ lowered its position in Veracyte, Inc. (NASDAQ:VCYT – Get Rating) by 5.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 38,603 shares of the biotechnology company’s stock after selling 2,236 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.05% of Veracyte worth $916,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of VCYT. Point72 Hong Kong Ltd bought a new stake in shares of Veracyte during the first quarter valued at approximately $33,000. Assetmark Inc. raised its position in shares of Veracyte by 47.0% during the third quarter. Assetmark Inc. now owns 3,815 shares of the biotechnology company’s stock valued at $63,000 after buying an additional 1,219 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of Veracyte by 712.9% in the second quarter. Captrust Financial Advisors now owns 3,219 shares of the biotechnology company’s stock worth $64,000 after buying an additional 2,823 shares in the last quarter. Quantbot Technologies LP bought a new position in Veracyte during the first quarter valued at approximately $73,000. Finally, Great West Life Assurance Co. Can purchased a new position in Veracyte during the 3rd quarter valued at approximately $80,000.

Veracyte Stock Down 0.3 %

VCYT stock opened at $23.52 on Friday. The business’s fifty day simple moving average is $22.40 and its two-hundred day simple moving average is $24.32. Veracyte, Inc. has a twelve month low of $14.92 and a twelve month high of $32.40. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -57.37 and a beta of 1.40.

Veracyte (NASDAQ:VCYT – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.03. Veracyte had a negative net margin of 9.70% and a negative return on equity of 2.83%. The firm had revenue of $82.40 million during the quarter, compared to the consensus estimate of $75.75 million. During the same quarter in the previous year, the firm posted ($0.20) earnings per share. The company’s revenue was up 21.5% on a year-over-year basis. Research analysts expect that Veracyte, Inc. will post -0.52 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on VCYT shares. Raymond James lowered shares of Veracyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 18th. Needham & Company LLC increased their price objective on shares of Veracyte from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, February 23rd. Finally, StockNews.com initiated coverage on shares of Veracyte in a research report on Thursday, March 16th. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Veracyte has an average rating of “Hold” and a consensus price target of $30.20.

Insider Activity

In related news, Director Bonnie H. Anderson sold 34,000 shares of the company’s stock in a transaction dated Friday, April 14th. The shares were sold at an average price of $22.04, for a total value of $749,360.00. Following the completion of the sale, the director now directly owns 42,681 shares of the company’s stock, valued at $940,689.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.90% of the company’s stock.

Veracyte 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.