Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC lowered its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 27.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,920,745 shares of the biotechnology company’s stock after selling 1,888,552 shares during the quarter. Veracyte makes up approximately 1.5% of ARK Investment Management LLC’s holdings, making the stock its 20th biggest holding. ARK Investment Management LLC owned approximately 6.44% of Veracyte worth $167,502,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VCYT. Vanguard Group Inc. grew its position in shares of Veracyte by 3.7% in the first quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company’s stock valued at $163,649,000 after purchasing an additional 266,660 shares during the period. Champlain Investment Partners LLC grew its holdings in Veracyte by 23.3% in the 1st quarter. Champlain Investment Partners LLC now owns 2,697,600 shares of the biotechnology company’s stock valued at $59,779,000 after buying an additional 509,340 shares during the period. William Blair Investment Management LLC increased its stake in shares of Veracyte by 67.4% during the 2nd quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company’s stock valued at $26,907,000 after acquiring an additional 500,020 shares during the last quarter. Bamco Inc. NY lifted its holdings in shares of Veracyte by 46.3% during the 1st quarter. Bamco Inc. NY now owns 1,115,806 shares of the biotechnology company’s stock worth $24,726,000 after acquiring an additional 353,000 shares during the period. Finally, Granite Investment Partners LLC boosted its position in shares of Veracyte by 2.1% in the second quarter. Granite Investment Partners LLC now owns 934,994 shares of the biotechnology company’s stock worth $20,261,000 after acquiring an additional 19,244 shares during the last quarter.

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 on Thursday, September 19th. The shares were sold at an average price of $35.23, for a total transaction of $182,244.79. Following the transaction, the director now directly owns 34,343 shares of the company’s stock, valued at approximately $1,209,903.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider John Leite sold 5,479 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.78, for a total transaction of $163,164.62. Following the completion of the sale, the insider now directly owns 76,174 shares in the company, valued at $2,268,461.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Evan/ Fa Jones sold 5,173 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $35.23, for a total value of $182,244.79. Following the completion of the transaction, the director now owns 34,343 shares in the company, valued at approximately $1,209,903.89. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,109 shares of company stock valued at $1,004,125 over the last 90 days. 1.30% of the stock is owned by corporate insiders.

Veracyte Trading Up 2.0 %

Shares of NASDAQ VCYT opened at $37.34 on Friday. The stock has a fifty day moving average price of $33.17 and a 200 day moving average price of $26.86. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $41.43.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.17. The business had revenue of $115.86 million during the quarter, compared to analyst estimates of $109.81 million. Veracyte had a positive return on equity of 3.07% and a negative net margin of 2.18%. The company’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.03) earnings per share. On average, equities analysts expect that Veracyte, Inc. will post 0.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VCYT has been the subject of several research analyst reports. The Goldman Sachs Group upped their price target on shares of Veracyte from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday. Guggenheim started coverage on Veracyte in a report on Thursday, October 10th. They set a “buy” rating and a $40.00 price objective for the company. Leerink Partners lifted their target price on Veracyte from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. UBS Group boosted their price target on Veracyte from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Needham & Company LLC raised their price objective on Veracyte from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat, Veracyte presently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

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.