Veracyte, Inc. (NASDAQ:VCYT) Position Lifted by Vanguard Group Inc.

Vanguard Group Inc. raised its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 8.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 892,378 shares of the biotechnology company’s stock after purchasing an additional 66,518 shares during the period. Vanguard Group Inc. owned 2.63% of Veracyte worth $7,434,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Veracyte in the second quarter worth $103,000. Nationwide Fund Advisors lifted its position in Veracyte by 16.8% in the second quarter. Nationwide Fund Advisors now owns 13,235 shares of the biotechnology company’s stock worth $110,000 after purchasing an additional 1,908 shares during the period. State of Wisconsin Investment Board bought a new position in Veracyte in the second quarter worth $142,000. Rhumbline Advisers lifted its position in Veracyte by 54.2% in the second quarter. Rhumbline Advisers now owns 24,749 shares of the biotechnology company’s stock worth $206,000 after purchasing an additional 8,702 shares during the period. Finally, New York State Common Retirement Fund lifted its position in Veracyte by 104.9% in the second quarter. New York State Common Retirement Fund now owns 25,200 shares of the biotechnology company’s stock worth $210,000 after purchasing an additional 12,899 shares during the period. Institutional investors own 69.23% of the company’s stock.

In other news, Chairman Bonnie H. Anderson sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $8.44, for a total transaction of $50,640.00. Following the sale, the chairman now owns 16,000 shares in the company, valued at approximately $135,040. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher M. Hall sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $9.00, for a total value of $180,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 48,000 shares of company stock worth $435,740 in the last quarter. 13.40% of the stock is currently owned by company insiders.

Several research analysts recently commented on VCYT shares. Zacks Investment Research cut Veracyte from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. Piper Jaffray Companies reissued a “buy” rating on shares of Veracyte in a report on Tuesday, September 12th. BTIG Research reissued a “buy” rating and set a $13.00 price objective on shares of Veracyte in a report on Thursday, August 31st. Leerink Swann cut their price target on Veracyte from $12.00 to $9.00 and set an “outperform” rating for the company in a report on Tuesday, November 7th. Finally, Janney Montgomery Scott cut Veracyte from a “buy” rating to a “neutral” rating in a report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Veracyte presently has a consensus rating of “Hold” and an average target price of $11.85.

Shares of Veracyte, Inc. (VCYT) opened at $6.35 on Wednesday. Veracyte, Inc. has a 12-month low of $5.75 and a 12-month high of $9.80. The company has a debt-to-equity ratio of 0.59, a current ratio of 5.19 and a quick ratio of 4.86.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Monday, November 6th. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.21). Veracyte had a negative return on equity of 52.99% and a negative net margin of 38.19%. The company had revenue of $17.50 million during the quarter, compared to analyst estimates of $19.54 million. During the same period in the previous year, the company earned ($0.20) EPS. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. sell-side analysts predict that Veracyte, Inc. will post -0.87 EPS for the current fiscal year.

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Veracyte Company Profile

Veracyte, Inc is a genomic diagnostics company. The Company uses genomic technology to resolve diagnostic ambiguity. It targets diseases in which patients undergo invasive diagnostic procedures. Its products combine genomic technology, clinical science and machine learning. The Company commercializes over three genomic tests, which are transforming the diagnosis of thyroid cancer, lung cancer and idiopathic pulmonary fibrosis.

Institutional Ownership by Quarter for Veracyte (NASDAQ:VCYT)

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