Veracyte, Inc. (NASDAQ:VCYT) Holdings Raised by Eventide Asset Management LLC

Eventide Asset Management LLC lifted its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 20.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 677,883 shares of the biotechnology company’s stock after purchasing an additional 113,883 shares during the quarter. Eventide Asset Management LLC owned about 0.87% of Veracyte worth $23,075,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of VCYT. Point72 Asset Management L.P. bought a new stake in shares of Veracyte during the second quarter valued at about $12,279,000. William Blair Investment Management LLC raised its position in Veracyte by 67.4% in the second quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company’s stock worth $26,907,000 after acquiring an additional 500,020 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Veracyte by 288.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 360,871 shares of the biotechnology company’s stock worth $12,284,000 after acquiring an additional 268,000 shares in the last quarter. Vanguard Group Inc. raised its position in Veracyte by 3.7% in the first quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company’s stock worth $163,649,000 after acquiring an additional 266,660 shares in the last quarter. Finally, Algert Global LLC raised its position in Veracyte by 411.1% in the third quarter. Algert Global LLC now owns 201,697 shares of the biotechnology company’s stock worth $6,866,000 after acquiring an additional 162,236 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have commented on VCYT shares. Scotiabank boosted their price target on shares of Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 8th. UBS Group boosted their price target on shares of Veracyte from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Wolfe Research assumed coverage on Veracyte in a research note on Friday, November 15th. They issued an “outperform” rating and a $50.00 price target on the stock. Leerink Partners lifted their price target on Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Needham & Company LLC lifted their price target on Veracyte from $37.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Veracyte has a consensus rating of “Moderate Buy” and a consensus price target of $41.25.

Veracyte Stock Up 0.1 %

NASDAQ:VCYT opened at $42.89 on Friday. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $44.16. The stock’s 50-day moving average is $35.54 and its two-hundred day moving average is $28.85.

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

Insider Buying and Selling at Veracyte

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

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.