Artemis Investment Management LLP Reduces Stock Position in Veracyte, Inc. (NASDAQ:VCYT)

Artemis Investment Management LLP lowered its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 38.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,050 shares of the biotechnology company’s stock after selling 6,342 shares during the quarter. Artemis Investment Management LLP’s holdings in Veracyte were worth $223,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of VCYT. Norges Bank purchased a new position in Veracyte during the 4th quarter valued at $11,190,000. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Veracyte during the 4th quarter valued at $9,586,000. Northern Trust Corp boosted its holdings in Veracyte by 38.0% during the 3rd quarter. Northern Trust Corp now owns 982,328 shares of the biotechnology company’s stock valued at $21,935,000 after acquiring an additional 270,531 shares during the period. GW&K Investment Management LLC boosted its holdings in Veracyte by 14.9% during the 4th quarter. GW&K Investment Management LLC now owns 1,415,237 shares of the biotechnology company’s stock valued at $38,933,000 after acquiring an additional 183,616 shares during the period. Finally, Vestmark Advisory Solutions Inc. bought a new stake in Veracyte during the 4th quarter valued at $4,850,000.

Insider Transactions at Veracyte

In related news, Director Muna Bhanji sold 3,870 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $20.32, for a total transaction of $78,638.40. Following the transaction, the director now directly owns 23,105 shares in the company, valued at approximately $469,493.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Karin Eastham sold 10,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $21.65, for a total transaction of $216,500.00. Following the transaction, the director now directly owns 33,125 shares in the company, valued at approximately $717,156.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Muna Bhanji sold 3,870 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $20.32, for a total value of $78,638.40. Following the transaction, the director now owns 23,105 shares in the company, valued at $469,493.60. The disclosure for this sale can be found here. In the last three months, insiders sold 17,909 shares of company stock valued at $379,882. Corporate insiders own 1.30% of the company’s stock.

Veracyte Trading Down 1.5 %

Shares of VCYT traded down $0.32 during trading hours on Friday, hitting $21.67. The company had a trading volume of 1,572,391 shares, compared to its average volume of 689,345. The company has a market capitalization of $1.66 billion, a PE ratio of -23.05 and a beta of 1.70. Veracyte, Inc. has a one year low of $18.61 and a one year high of $30.52. The company’s fifty day moving average price is $21.24 and its two-hundred day moving average price is $23.27.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.17. The firm had revenue of $96.84 million during the quarter, compared to analyst estimates of $93.35 million. Veracyte had a negative return on equity of 1.42% and a negative net margin of 18.16%. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.11) EPS. Analysts forecast that Veracyte, Inc. will post -0.05 earnings per share for the current year.

Analyst Ratings Changes

VCYT has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased their target price on Veracyte from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, April 15th. Needham & Company LLC decreased their target price on Veracyte from $33.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.50.

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.