4,869 Shares in Veracyte, Inc. (NASDAQ:VCYT) Purchased by RiverPark Advisors LLC

RiverPark Advisors LLC purchased a new position in Veracyte, Inc. (NASDAQ:VCYT) during the third quarter, Holdings Channel.com reports. The firm purchased 4,869 shares of the biotechnology company’s stock, valued at approximately $166,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Veracyte by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company’s stock worth $163,649,000 after purchasing an additional 266,660 shares in the last quarter. Champlain Investment Partners LLC increased its stake in Veracyte by 23.3% in the 1st quarter. Champlain Investment Partners LLC now owns 2,697,600 shares of the biotechnology company’s stock worth $59,779,000 after purchasing an additional 509,340 shares in the last quarter. William Blair Investment Management LLC increased its stake in Veracyte by 67.4% in the 2nd quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company’s stock worth $26,907,000 after purchasing an additional 500,020 shares in the last quarter. Bamco Inc. NY increased its stake in Veracyte by 46.3% in the 1st quarter. Bamco Inc. NY now owns 1,115,806 shares of the biotechnology company’s stock worth $24,726,000 after purchasing an additional 353,000 shares in the last quarter. Finally, Granite Investment Partners LLC increased its stake in Veracyte by 2.1% in the 2nd quarter. Granite Investment Partners LLC now owns 934,994 shares of the biotechnology company’s stock worth $20,261,000 after purchasing an additional 19,244 shares in the last quarter.

Insider Buying and Selling

In related news, insider John Leite sold 5,479 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $29.78, for a total value of $163,164.62. Following the completion of the sale, the insider now directly owns 76,174 shares in the company, valued at approximately $2,268,461.72. The trade was a 6.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Evan/ Fa Jones sold 5,173 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $35.23, for a total value of $182,244.79. Following the completion of the sale, the director now owns 34,343 shares of the company’s stock, valued at approximately $1,209,903.89. This trade represents a 13.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on VCYT shares. Wolfe Research started coverage on Veracyte in a research note on Friday. They issued an “outperform” rating and a $50.00 price target on the stock. The Goldman Sachs Group lifted their target price on Veracyte from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC lifted their target price on Veracyte from $37.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Scotiabank lifted their target price on Veracyte from $40.00 to $44.00 and gave the company a “sector outperform” rating in a research note on Friday, November 8th. Finally, UBS Group lifted their target price on Veracyte from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Veracyte Trading Down 3.0 %

Shares of Veracyte stock opened at $35.94 on Friday. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $41.43. The stock has a 50-day simple moving average of $34.06 and a 200-day simple moving average of $27.61.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.16. The business had revenue of $115.86 million during the quarter, compared to analyst estimates of $109.81 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The firm’s revenue was up 28.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.03) EPS. Equities research analysts expect that Veracyte, Inc. will post 0.16 EPS for the current fiscal year.

About Veracyte

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.