Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP reduced its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 45.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,066 shares of the biotechnology company’s stock after selling 20,663 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in Veracyte were worth $853,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Blue Trust Inc. raised its position in shares of Veracyte by 2,331.6% during the 2nd quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock worth $31,000 after buying an additional 1,329 shares in the last quarter. CWM LLC lifted its position in Veracyte by 168.3% in the second quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 951 shares during the period. Castleview Partners LLC bought a new position in Veracyte during the 3rd quarter valued at $87,000. Values First Advisors Inc. acquired a new position in shares of Veracyte during the 3rd quarter valued at $91,000. Finally, KBC Group NV raised its stake in shares of Veracyte by 13.7% in the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock worth $91,000 after buying an additional 323 shares in the last quarter.

Insider Transactions at Veracyte

In other Veracyte news, Director Evan/ Fa Jones sold 5,173 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $35.23, for a total transaction of $182,244.79. Following the transaction, the director now directly owns 34,343 shares of the company’s stock, valued at $1,209,903.89. This represents a 13.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Leite sold 5,479 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $2,268,461.72. This represents a 6.71 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Veracyte Price Performance

NASDAQ VCYT opened at $41.10 on Tuesday. The company has a 50 day simple moving average of $35.04 and a 200-day simple moving average of $28.50. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $41.43. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of -274.00 and a beta of 1.67.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.16. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The company had revenue of $115.86 million during the quarter, compared to analyst estimates of $109.81 million. During the same quarter last year, the business posted ($0.03) EPS. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. On average, analysts predict that Veracyte, Inc. will post 0.32 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on VCYT. UBS Group lifted their target price on Veracyte from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group raised their target price on shares of Veracyte from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC lifted their target price on Veracyte from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Wolfe Research initiated coverage on Veracyte in a report on Friday, November 15th. They set an “outperform” rating and a $50.00 price objective on the stock. Finally, Scotiabank raised their target price on shares of Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.25.

Veracyte Company Profile

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.