Veracyte, Inc. $VCYT is ArrowMark Colorado Holdings LLC’s 7th Largest Position

ArrowMark Colorado Holdings LLC trimmed its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,545,739 shares of the biotechnology company’s stock after selling 33,084 shares during the period. Veracyte makes up approximately 1.6% of ArrowMark Colorado Holdings LLC’s holdings, making the stock its 7th biggest holding. ArrowMark Colorado Holdings LLC owned approximately 3.22% of Veracyte worth $87,395,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Veracyte by 5.0% during the third quarter. Vanguard Group Inc. now owns 8,504,088 shares of the biotechnology company’s stock valued at $291,945,000 after purchasing an additional 403,737 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of Veracyte by 16.6% during the 3rd quarter. Artisan Partners Limited Partnership now owns 7,370,467 shares of the biotechnology company’s stock worth $253,028,000 after acquiring an additional 1,048,692 shares during the last quarter. ARK Investment Management LLC grew its position in Veracyte by 17.5% in the 3rd quarter. ARK Investment Management LLC now owns 4,465,775 shares of the biotechnology company’s stock valued at $153,310,000 after acquiring an additional 665,686 shares during the last quarter. State Street Corp increased its stake in Veracyte by 0.4% in the second quarter. State Street Corp now owns 3,169,700 shares of the biotechnology company’s stock worth $85,677,000 after purchasing an additional 11,461 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Veracyte by 3.2% in the third quarter. Dimensional Fund Advisors LP now owns 3,118,166 shares of the biotechnology company’s stock worth $107,042,000 after purchasing an additional 95,664 shares during the period.

Insider Buying and Selling at Veracyte

In other news, CEO Marc Stapley sold 45,523 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $35.97, for a total value of $1,637,462.31. Following the sale, the chief executive officer directly owned 357,554 shares of the company’s stock, valued at $12,861,217.38. This represents a 11.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rebecca Chambers sold 18,341 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $36.14, for a total transaction of $662,843.74. Following the completion of the sale, the chief financial officer owned 131,196 shares in the company, valued at $4,741,423.44. The trade was a 12.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 86,521 shares of company stock valued at $3,185,270 over the last quarter. Insiders own 1.40% of the company’s stock.

Veracyte Stock Up 3.9%

VCYT stock opened at $32.13 on Friday. Veracyte, Inc. has a 52 week low of $22.61 and a 52 week high of $50.71. The firm has a 50 day moving average of $38.08 and a 200 day moving average of $38.18. The stock has a market capitalization of $2.55 billion, a PE ratio of 38.71 and a beta of 1.91.

Veracyte (NASDAQ:VCYT) last released its earnings results on Wednesday, February 25th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.12. The firm had revenue of $140.64 million for the quarter, compared to the consensus estimate of $135.79 million. Veracyte had a return on equity of 8.05% and a net margin of 12.83%.The firm’s revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS. On average, equities research analysts expect that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VCYT. Weiss Ratings reissued a “hold (c)” rating on shares of Veracyte in a research note on Monday, December 29th. UBS Group reissued a “buy” rating on shares of Veracyte in a research report on Monday, January 12th. Zacks Research downgraded shares of Veracyte from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Guggenheim increased their price target on Veracyte from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Finally, Needham & Company LLC lifted their price objective on shares of Veracyte from $44.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $45.14.

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.