Sei Investments Co. Buys 90,863 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Sei Investments Co. boosted its stake in Veracyte, Inc. (NASDAQ:VCYT) by 33.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 360,106 shares of the biotechnology company’s stock after purchasing an additional 90,863 shares during the quarter. Sei Investments Co.’s holdings in Veracyte were worth $14,260,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in VCYT. State Street Corp raised its position in shares of Veracyte by 0.3% in the 3rd quarter. State Street Corp now owns 2,916,515 shares of the biotechnology company’s stock valued at $99,278,000 after acquiring an additional 7,920 shares during the period. Geode Capital Management LLC increased its stake in Veracyte by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,844,713 shares of the biotechnology company’s stock valued at $62,806,000 after purchasing an additional 17,921 shares in the last quarter. Jennison Associates LLC raised its holdings in Veracyte by 116.3% in the fourth quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company’s stock worth $33,017,000 after purchasing an additional 448,251 shares during the period. New York State Common Retirement Fund boosted its position in shares of Veracyte by 0.4% during the fourth quarter. New York State Common Retirement Fund now owns 785,971 shares of the biotechnology company’s stock worth $31,124,000 after purchasing an additional 3,111 shares in the last quarter. Finally, Eventide Asset Management LLC grew its holdings in shares of Veracyte by 20.2% in the 3rd quarter. Eventide Asset Management LLC now owns 677,883 shares of the biotechnology company’s stock valued at $23,075,000 after buying an additional 113,883 shares during the period.

Insider Buying and Selling at Veracyte

In other news, Director Karin Eastham sold 10,000 shares of Veracyte stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total value of $403,000.00. Following the completion of the transaction, the director now owns 18,497 shares of the company’s stock, valued at $745,429.10. This trade represents a 35.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Veracyte Trading Down 3.2 %

Veracyte stock opened at $30.12 on Friday. Veracyte, Inc. has a 1-year low of $18.61 and a 1-year high of $47.32. The company has a fifty day simple moving average of $37.57 and a 200 day simple moving average of $37.69. The company has a market cap of $2.35 billion, a P/E ratio of -200.80 and a beta of 1.80.

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

Analyst Ratings Changes

Several brokerages recently commented on VCYT. UBS Group lifted their target price on Veracyte from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Guggenheim reiterated a “buy” rating and issued a $45.00 price objective on shares of Veracyte in a research report on Tuesday, February 25th. Craig Hallum assumed coverage on shares of Veracyte in a report on Thursday, March 20th. They set a “buy” rating and a $45.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $51.00 price target on shares of Veracyte in a report on Tuesday, February 25th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $37.00 price objective (down previously from $38.00) on shares of Veracyte in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.40.

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.