Bellevue Group AG Buys Shares of 3,600 Veracyte, Inc. (NASDAQ:VCYT)

Bellevue Group AG purchased a new position in shares of Veracyte, Inc. (NASDAQ:VCYT) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 3,600 shares of the biotechnology company’s stock, valued at approximately $123,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Blue Trust Inc. boosted its stake in Veracyte by 2,331.6% in the second quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 1,329 shares during the last quarter. CWM LLC boosted its position in shares of Veracyte by 168.3% in the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 951 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Veracyte during the second quarter worth $58,000. Signature Resources Capital Management LLC acquired a new stake in shares of Veracyte during the second quarter worth $83,000. Finally, nVerses Capital LLC acquired a new position in Veracyte in the second quarter valued at about $85,000.

Veracyte Stock Up 0.1 %

Veracyte stock opened at $42.95 on Monday. The company has a 50 day moving average of $35.70 and a 200-day moving average of $29.07. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $44.16. The stock has a market capitalization of $3.33 billion, a PE ratio of -286.33 and a beta of 1.67.

Veracyte (NASDAQ:VCYT) last announced its earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.16. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The firm had revenue of $115.86 million during the quarter, compared to analyst estimates of $109.81 million. During the same period in the prior year, the business earned ($0.03) EPS. The company’s revenue for the quarter was up 28.6% compared to the same quarter last year. Equities analysts anticipate that Veracyte, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VCYT has been the subject of several analyst reports. Wolfe Research began coverage on Veracyte in a research report on Friday, November 15th. They set an “outperform” rating and a $50.00 target price for the company. Leerink Partners lifted their price objective on shares of Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Needham & Company LLC upped their target price on shares of Veracyte from $37.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Guggenheim assumed coverage on shares of Veracyte in a research report on Thursday, October 10th. They set a “buy” rating and a $40.00 price target on the stock. Finally, Morgan Stanley boosted their price target on shares of Veracyte from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Veracyte presently has a consensus rating of “Moderate Buy” and an average target price of $41.25.

Insider Buying and Selling

In other news, CAO Jonathan Wygant sold 5,032 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $42.89, for a total transaction of $215,822.48. Following the completion of the transaction, the chief accounting officer now directly owns 42,313 shares in the company, valued at $1,814,804.57. This represents a 10.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Leite sold 5,479 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.78, for a total transaction of $163,164.62. Following the transaction, the insider now owns 76,174 shares in the company, valued at approximately $2,268,461.72. The trade was a 6.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,684 shares of company stock worth $561,232. 1.30% of the stock is owned by corporate insiders.

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.