Jackson Creek Investment Advisors LLC Sells 1,456 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Jackson Creek Investment Advisors LLC reduced its position in Veracyte, Inc. (NASDAQ:VCYT) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,095 shares of the biotechnology company’s stock after selling 1,456 shares during the quarter. Veracyte accounts for approximately 0.6% of Jackson Creek Investment Advisors LLC’s investment portfolio, making the stock its 23rd largest holding. Jackson Creek Investment Advisors LLC’s holdings in Veracyte were worth $1,865,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in VCYT. Jones Financial Companies Lllp increased its position in Veracyte by 49.7% during the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 237 shares during the period. US Bancorp DE boosted its stake in shares of Veracyte by 57.4% during the fourth quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock valued at $70,000 after purchasing an additional 647 shares in the last quarter. Principal Securities Inc. increased its holdings in Veracyte by 34.1% during the fourth quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock valued at $76,000 after buying an additional 485 shares during the period. Venturi Wealth Management LLC bought a new position in Veracyte in the fourth quarter worth approximately $91,000. Finally, KBC Group NV raised its stake in Veracyte by 13.7% in the third quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock worth $91,000 after buying an additional 323 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on VCYT shares. Morgan Stanley lifted their price target on Veracyte from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Monday, November 18th. UBS Group raised their price objective on Veracyte from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Needham & Company LLC reiterated a “buy” rating and issued a $51.00 target price on shares of Veracyte in a report on Tuesday, February 25th. Wolfe Research began coverage on shares of Veracyte in a report on Friday, November 15th. They issued an “outperform” rating and a $50.00 price target on the stock. Finally, StockNews.com downgraded shares of Veracyte from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Insider Activity at Veracyte

In other Veracyte news, Director Karin Eastham sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total transaction of $403,000.00. Following the sale, the director now owns 18,497 shares in the company, valued at approximately $745,429.10. The trade was a 35.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

Veracyte Stock Down 1.4 %

VCYT opened at $32.51 on Friday. The company has a market cap of $2.52 billion, a P/E ratio of -216.73 and a beta of 1.80. The firm’s 50-day moving average price is $40.78 and its 200-day moving average price is $37.65. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $47.32.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results 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. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The business had revenue of $118.63 million for the quarter, compared to analyst estimates of $110.73 million. During the same quarter in the prior year, the business posted ($0.39) EPS. On average, research analysts anticipate that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.

Veracyte Company 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.