11,821 Shares in Veracyte, Inc. (NASDAQ:VCYT) Purchased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd acquired a new position in shares of Veracyte, Inc. (NASDAQ:VCYT) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 11,821 shares of the biotechnology company’s stock, valued at approximately $468,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VCYT. Jennison Associates LLC increased its position in shares of Veracyte by 116.3% during the 4th quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company’s stock worth $33,017,000 after purchasing an additional 448,251 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in Veracyte in the 3rd quarter valued at about $9,498,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Veracyte by 288.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 360,871 shares of the biotechnology company’s stock valued at $12,284,000 after acquiring an additional 268,000 shares in the last quarter. Jane Street Group LLC grew its position in Veracyte by 276.4% in the 3rd quarter. Jane Street Group LLC now owns 301,652 shares of the biotechnology company’s stock valued at $10,268,000 after acquiring an additional 221,504 shares in the last quarter. Finally, Castleark Management LLC acquired a new position in Veracyte in the 3rd quarter valued at about $6,010,000.

Veracyte Stock Down 0.1 %

VCYT stock opened at $31.82 on Friday. The business has a 50 day moving average price of $38.53 and a 200 day moving average price of $37.61. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -212.13 and a beta of 1.80. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two week 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 for the quarter, topping the consensus estimate of $0.29 by $0.07. The firm had revenue of $118.63 million during the quarter, compared to analysts’ expectations of $110.73 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. During the same quarter in the previous year, the business earned ($0.39) earnings per share. As a group, sell-side analysts anticipate that Veracyte, Inc. will post 0.68 EPS for the current year.

Insider Buying and Selling

In other Veracyte news, Director Karin Eastham sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total value of $403,000.00. Following the completion of the sale, the director now owns 18,497 shares in the company, valued at approximately $745,429.10. The trade was a 35.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

VCYT has been the subject of several research reports. UBS Group lifted their target price on Veracyte from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. StockNews.com downgraded Veracyte from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $45.00 price objective on shares of Veracyte in a research note on Tuesday, February 25th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $37.00 price objective (down previously from $38.00) on shares of Veracyte in a research note on Thursday, December 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $51.00 price objective on shares of Veracyte in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Veracyte has an average rating of “Moderate Buy” and a consensus price target of $43.22.

Veracyte Company 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.