Wrapmanager Inc. Has $329,000 Position in Veracyte, Inc. (NASDAQ:VCYT)

Wrapmanager Inc. cut its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 46.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,658 shares of the biotechnology company’s stock after selling 8,252 shares during the quarter. Wrapmanager Inc.’s holdings in Veracyte were worth $329,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. lifted its stake in Veracyte by 2,331.6% in the second quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock valued at $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 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 951 shares in the last quarter. Castleview Partners LLC acquired a new position in Veracyte in the 3rd quarter worth $87,000. Values First Advisors Inc. bought a new position in Veracyte during the 3rd quarter worth about $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 valued at $91,000 after purchasing an additional 323 shares during the period.

Analyst Ratings Changes

Several research firms have recently weighed in on VCYT. The Goldman Sachs Group upped their price objective on Veracyte from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Scotiabank raised their price target on shares of Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. Wolfe Research initiated coverage on shares of Veracyte in a report on Friday, November 15th. They issued an “outperform” rating and a $50.00 price objective on the stock. Needham & Company LLC increased their target price on shares of Veracyte from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Leerink Partners lifted their price target on shares of Veracyte from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.25.

Insider Buying and Selling at Veracyte

In other news, 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 transaction of $182,244.79. Following the completion of the sale, the director now owns 34,343 shares in the company, valued at $1,209,903.89. The trade was a 13.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Leite sold 5,479 shares of the 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 transaction, the insider now owns 76,174 shares in the company, valued at approximately $2,268,461.72. This trade represents a 6.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Veracyte Price Performance

Shares of VCYT opened at $39.15 on Wednesday. The company has a market cap of $3.03 billion, a PE ratio of -253.40 and a beta of 1.67. The firm has a 50-day moving average of $34.22 and a 200-day moving average of $27.83. Veracyte, Inc. has a one year low of $18.61 and a one year high of $41.43.

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

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.