Veracyte, Inc. $VCYT Shares Purchased by Amalgamated Bank

Amalgamated Bank boosted its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 755.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,760 shares of the biotechnology company’s stock after buying an additional 20,099 shares during the period. Amalgamated Bank’s holdings in Veracyte were worth $781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in Veracyte by 23.3% in the 1st quarter. Royal Bank of Canada now owns 28,712 shares of the biotechnology company’s stock worth $852,000 after buying an additional 5,435 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Veracyte by 12.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 195,793 shares of the biotechnology company’s stock valued at $5,805,000 after purchasing an additional 21,330 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Veracyte by 94.7% in the first quarter. Jane Street Group LLC now owns 216,909 shares of the biotechnology company’s stock valued at $6,431,000 after purchasing an additional 105,499 shares during the period. Intech Investment Management LLC grew its stake in shares of Veracyte by 54.1% in the 1st quarter. Intech Investment Management LLC now owns 42,762 shares of the biotechnology company’s stock valued at $1,268,000 after buying an additional 15,017 shares during the period. Finally, QRG Capital Management Inc. grew its position in Veracyte by 2.4% in the second quarter. QRG Capital Management Inc. now owns 142,629 shares of the biotechnology company’s stock worth $3,855,000 after acquiring an additional 3,297 shares during the period.

Veracyte Price Performance

Shares of NASDAQ:VCYT opened at $40.57 on Tuesday. Veracyte, Inc. has a 12 month low of $22.61 and a 12 month high of $50.71. The firm has a market capitalization of $3.21 billion, a P/E ratio of 106.77 and a beta of 1.88. The company’s fifty day moving average price is $43.52 and its 200 day moving average price is $36.03.

Veracyte (NASDAQ:VCYT) last announced its earnings results on Tuesday, November 4th. The biotechnology company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.19. The business had revenue of $131.87 million for the quarter, compared to analysts’ expectations of $124.62 million. Veracyte had a net margin of 6.12% and a return on equity of 7.23%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 EPS. On average, sell-side analysts anticipate that Veracyte, Inc. will post 0.68 EPS for the current year.

Wall Street Analyst Weigh In

VCYT has been the topic of a number of research analyst reports. Wall Street Zen raised Veracyte from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 27th. Canaccord Genuity Group boosted their price target on shares of Veracyte from $40.00 to $43.00 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. Morgan Stanley upped their price objective on Veracyte from $40.00 to $48.00 and gave the stock an “underweight” rating in a research report on Monday, December 1st. UBS Group reiterated a “buy” rating on shares of Veracyte in a report on Monday, January 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Veracyte in a research report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.14.

Insider Buying and Selling at Veracyte

In other news, CFO Rebecca Chambers sold 13,278 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $46.84, for a total value of $621,941.52. Following the completion of the sale, the chief financial officer directly owned 109,496 shares of the company’s stock, valued at $5,128,792.64. This trade represents a 10.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Annie Mcguire sold 10,739 shares of Veracyte stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $43.13, for a total value of $463,173.07. Following the completion of the sale, the senior vice president owned 67,760 shares in the company, valued at approximately $2,922,488.80. This trade represents a 13.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 134,635 shares of company stock valued at $5,981,961. Corporate insiders own 1.40% of the company’s stock.

Veracyte Profile

Veracyte, Inc is a genomic diagnostics company focused on improving diagnostic accuracy and patient care through advanced molecular testing. Founded in 2008 and headquartered in South San Francisco, California, the company develops and commercializes minimally invasive genomic tests that aid in the diagnosis of thyroid, lung and other diseases. Veracyte’s proprietary platform analyzes gene expression patterns in clinical samples to help physicians make more informed treatment decisions, reducing unnecessary surgeries and improving patient outcomes.

The company’s flagship product, the Afirma Genomic Sequencing Classifier, is designed to assess thyroid nodules with indeterminate cytology, helping clinicians distinguish benign from suspicious nodules.