Axxcess Wealth Management LLC Has $203,000 Stake in Veracyte, Inc. (NASDAQ:VCYT)

Axxcess Wealth Management LLC trimmed its stake in Veracyte, Inc. (NASDAQ:VCYT) by 33.8% during the fourth quarter, Holdings Channel reports. The fund owned 5,117 shares of the biotechnology company’s stock after selling 2,613 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Veracyte were worth $203,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in VCYT. Jennison Associates LLC raised its stake in shares of Veracyte by 116.3% in the 4th quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company’s stock valued at $33,017,000 after acquiring an additional 448,251 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Veracyte in the 3rd quarter valued at approximately $9,498,000. Jane Street Group LLC raised its stake in shares of Veracyte by 276.4% in the 3rd quarter. Jane Street Group LLC now owns 301,652 shares of the biotechnology company’s stock valued at $10,268,000 after acquiring an additional 221,504 shares in the last quarter. Castleark Management LLC bought a new position in shares of Veracyte in the 3rd quarter valued at approximately $6,010,000. Finally, Algert Global LLC raised its stake in shares of Veracyte by 411.1% in the 3rd quarter. Algert Global LLC now owns 201,697 shares of the biotechnology company’s stock valued at $6,866,000 after acquiring an additional 162,236 shares in the last quarter.

Veracyte Trading Down 0.1 %

VCYT opened at $31.82 on Friday. The stock has a market cap of $2.48 billion, a PE ratio of -212.13 and a beta of 1.80. Veracyte, Inc. has a 1 year low of $18.61 and a 1 year high of $47.32. The stock’s 50 day simple moving average is $38.53 and its 200-day simple moving average is $37.66.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $118.63 million for the quarter, compared to analysts’ expectations of $110.73 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. During the same period in the previous year, the business posted ($0.39) earnings per share. Equities analysts forecast that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on VCYT shares. StockNews.com downgraded Veracyte from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and issued a $45.00 price target on shares of Veracyte in a research report on Tuesday, February 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $51.00 price target on shares of Veracyte in a research report on Tuesday, February 25th. Craig Hallum started coverage on Veracyte in a research report on Thursday. They issued a “buy” rating and a $45.00 price target on the stock. Finally, UBS Group lifted their price target on Veracyte from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.22.

Insider Activity at Veracyte

In related news, Director Karin Eastham sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total value of $403,000.00. Following the sale, the director now owns 18,497 shares of the company’s stock, valued at $745,429.10. The trade was a 35.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by insiders.

Veracyte Profile

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.