ArrowMark Colorado Holdings LLC Sells 15,580 Shares of Veracyte, Inc. (NASDAQ:VCYT)

ArrowMark Colorado Holdings LLC lowered its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,982,203 shares of the biotechnology company’s stock after selling 15,580 shares during the period. Veracyte accounts for 1.3% of ArrowMark Colorado Holdings LLC’s investment portfolio, making the stock its 21st biggest holding. ArrowMark Colorado Holdings LLC owned approximately 3.85% of Veracyte worth $101,514,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Blue Trust Inc. grew its position in Veracyte by 2,331.6% during the second quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock worth $31,000 after buying an additional 1,329 shares in the last quarter. CWM LLC lifted its stake in Veracyte by 168.3% in the second 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. bought a new stake in shares of Veracyte in the 2nd quarter valued at about $58,000. Signature Resources Capital Management LLC bought a new position in Veracyte during the 2nd quarter worth approximately $83,000. Finally, nVerses Capital LLC bought a new stake in Veracyte in the second quarter valued at approximately $85,000.

Insider Activity

In other Veracyte news, CAO Jonathan Wygant sold 5,032 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $42.89, for a total value of $215,822.48. Following the completion of the transaction, the chief accounting officer now owns 42,313 shares of the company’s stock, valued at approximately $1,814,804.57. This trade represents a 10.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Leite sold 5,479 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total value of $163,164.62. Following the completion of the transaction, the insider now directly 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. In the last three months, insiders have sold 15,684 shares of company stock worth $561,232. 1.30% of the stock is currently owned by company insiders.

Veracyte Stock Up 0.1 %

Shares of NASDAQ:VCYT opened at $42.95 on Monday. The stock has a market capitalization of $3.33 billion, a P/E ratio of -286.33 and a beta of 1.67. Veracyte, Inc. has a 52 week low of $18.61 and a 52 week high of $44.16. The firm has a fifty day simple moving average of $35.70 and a two-hundred day simple moving average of $29.07.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.16. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The firm had revenue of $115.86 million for the quarter, compared to the consensus estimate of $109.81 million. During the same period in the prior year, the business posted ($0.03) earnings per share. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. On average, analysts expect that Veracyte, Inc. will post 0.32 earnings per share for the current year.

Analyst Ratings Changes

VCYT has been the topic of several recent analyst reports. UBS Group raised their target price on shares of Veracyte from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Guggenheim initiated coverage on Veracyte in a report on Thursday, October 10th. They set a “buy” rating and a $40.00 target price for the company. Wolfe Research initiated coverage on Veracyte in a report on Friday, November 15th. They set an “outperform” rating and a $50.00 target price on the stock. The Goldman Sachs Group upped their price target on Veracyte from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Scotiabank lifted their price target on shares of Veracyte from $40.00 to $44.00 and gave the company a “sector outperform” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to MarketBeat, Veracyte currently has an average rating of “Moderate Buy” and a consensus price target of $41.25.

Veracyte 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.