QRG Capital Management Inc. Purchases 4,834 Shares of Veracyte, Inc. (NASDAQ:VCYT)

QRG Capital Management Inc. increased its position in Veracyte, Inc. (NASDAQ:VCYT) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,650 shares of the biotechnology company’s stock after buying an additional 4,834 shares during the quarter. QRG Capital Management Inc. owned 0.18% of Veracyte worth $5,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Securities Inc. lifted its holdings in shares of Veracyte by 34.1% in the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock worth $76,000 after acquiring an additional 485 shares during the last quarter. KBC Group NV raised its position in Veracyte by 13.7% in the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock worth $91,000 after purchasing an additional 323 shares during the period. Venturi Wealth Management LLC purchased a new stake in Veracyte during the fourth quarter valued at about $91,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Veracyte by 21.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,778 shares of the biotechnology company’s stock valued at $94,000 after buying an additional 496 shares during the period. Finally, Bellevue Group AG bought a new position in shares of Veracyte during the third quarter valued at about $123,000.

Veracyte Stock Up 2.7 %

Shares of VCYT stock opened at $34.76 on Friday. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -231.73 and a beta of 1.71. The stock has a fifty day moving average of $41.52 and a 200 day moving average of $37.59. Veracyte, Inc. has a 52 week low of $18.61 and a 52 week high of $47.32.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Monday, February 24th. The biotechnology company reported $0.36 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $118.63 million during the quarter, compared to analysts’ expectations of $110.73 million. During the same period last year, the company posted ($0.39) EPS. Equities research analysts anticipate that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on VCYT. Needham & Company LLC restated a “buy” rating and set a $51.00 target price on shares of Veracyte in a report on Tuesday. Guggenheim reiterated a “buy” rating and issued a $45.00 price objective on shares of Veracyte in a research report on Tuesday. Morgan Stanley raised their target price on shares of Veracyte from $26.00 to $28.00 and gave the stock an “underweight” rating in a report on Monday, November 18th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $37.00 target price (down from $38.00) on shares of Veracyte in a research note on Thursday, December 5th. Finally, UBS Group increased their price target on shares of Veracyte from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.00.

Insiders Place Their Bets

In other news, CAO Jonathan Wygant sold 956 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $43.36, for a total value of $41,452.16. Following the completion of the transaction, the chief accounting officer now owns 40,270 shares of the company’s stock, valued at approximately $1,746,107.20. This represents a 2.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karin Eastham sold 10,000 shares of Veracyte stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 in the company, valued at $745,429.10. This represents a 35.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,533 shares of company stock worth $815,584 over the last three months. Company insiders own 1.30% of the company’s stock.

About Veracyte

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.