Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its stake in Veracyte, Inc. (NASDAQ:VCYT) by 6.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,367 shares of the biotechnology company’s stock after selling 1,293 shares during the period. Los Angeles Capital Management LLC’s holdings in Veracyte were worth $767,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. State Street Corp raised its holdings in shares of Veracyte by 0.3% in the third quarter. State Street Corp now owns 2,916,515 shares of the biotechnology company’s stock worth $99,278,000 after buying an additional 7,920 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Veracyte by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,844,713 shares of the biotechnology company’s stock valued at $62,806,000 after acquiring an additional 17,921 shares during the period. Jennison Associates LLC raised its stake in Veracyte by 116.3% in the 4th quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company’s stock worth $33,017,000 after acquiring an additional 448,251 shares during the last quarter. New York State Common Retirement Fund lifted its position in Veracyte by 0.4% during the 4th quarter. New York State Common Retirement Fund now owns 785,971 shares of the biotechnology company’s stock worth $31,124,000 after acquiring an additional 3,111 shares during the period. Finally, Eventide Asset Management LLC grew its stake in Veracyte by 20.2% during the 3rd quarter. Eventide Asset Management LLC now owns 677,883 shares of the biotechnology company’s stock valued at $23,075,000 after purchasing an additional 113,883 shares during the last quarter.

Insiders Place Their Bets

In other news, CFO Rebecca Chambers sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $43.23, for a total transaction of $302,610.00. Following the completion of the transaction, the chief financial officer now directly owns 114,037 shares of the company’s stock, valued at $4,929,819.51. This represents a 5.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Karin Eastham sold 10,000 shares of Veracyte stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total transaction of $403,000.00. Following the completion of the sale, the director now directly owns 18,497 shares in the company, valued at $745,429.10. This represents a 35.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,533 shares of company stock worth $815,584. 1.30% of the stock is owned by corporate insiders.

Veracyte Price Performance

VCYT opened at $34.76 on Monday. The stock has a market cap of $2.69 billion, a P/E ratio of -231.73 and a beta of 1.71. The firm has a fifty day moving average price of $41.40 and a 200 day moving average price of $37.66. Veracyte, Inc. has a 1 year low of $18.61 and a 1 year high of $47.32.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (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 business had revenue of $118.63 million for the quarter, compared to analyst estimates of $110.73 million. During the same period in the prior year, the company posted ($0.39) EPS. Equities analysts expect that Veracyte, Inc. will post 0.68 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group raised their price objective on Veracyte from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Morgan Stanley raised their price target on shares of Veracyte from $26.00 to $28.00 and gave the stock an “underweight” rating in a research report on Monday, November 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Veracyte in a report on Tuesday, February 25th. StockNews.com cut shares of Veracyte from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, Scotiabank upped their price target on shares of Veracyte from $40.00 to $44.00 and gave the company a “sector outperform” rating in a report on Friday, November 8th. One equities 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. According to data from MarketBeat, Veracyte currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Veracyte 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.