Bellevue Group AG Acquires New Shares in Veracyte, Inc. (NASDAQ:VCYT)

Bellevue Group AG bought a new position in shares of Veracyte, Inc. (NASDAQ:VCYT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,600 shares of the biotechnology company’s stock, valued at approximately $123,000.

Several other hedge funds have also recently bought and sold shares of VCYT. KBC Group NV boosted its stake in shares of Veracyte by 13.7% during the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock worth $91,000 after acquiring an additional 323 shares in the last quarter. Inspire Investing LLC boosted its position in Veracyte by 2.1% during the second quarter. Inspire Investing LLC now owns 16,462 shares of the biotechnology company’s stock worth $357,000 after purchasing an additional 340 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Veracyte by 21.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,778 shares of the biotechnology company’s stock valued at $94,000 after purchasing an additional 496 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Veracyte by 6.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 8,198 shares of the biotechnology company’s stock valued at $182,000 after purchasing an additional 530 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of Veracyte by 3.7% in the second quarter. Arizona State Retirement System now owns 20,806 shares of the biotechnology company’s stock worth $451,000 after buying an additional 733 shares during the last quarter.

Veracyte Stock Up 0.1 %

Shares of VCYT opened at $42.95 on Monday. The stock’s 50-day moving average price is $35.70 and its 200 day moving average price is $29.07. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of -286.33 and a beta of 1.67. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $44.16.

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

Insider Transactions at Veracyte

In other news, CAO Jonathan Wygant sold 5,032 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $42.89, for a total value of $215,822.48. Following the transaction, the chief accounting officer now directly owns 42,313 shares of the company’s stock, valued at $1,814,804.57. The trade was a 10.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Evan/ Fa Jones sold 5,173 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $35.23, for a total value of $182,244.79. Following the sale, the director now owns 34,343 shares in the company, valued at approximately $1,209,903.89. This trade represents a 13.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,684 shares of company stock valued at $561,232. 1.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Needham & Company LLC raised 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. UBS Group raised their price target on Veracyte from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Guggenheim started coverage on Veracyte in a research report on Thursday, October 10th. They set a “buy” rating and a $40.00 price objective for the company. Wolfe Research assumed coverage on Veracyte in a research note on Friday, November 15th. They set an “outperform” rating and a $50.00 target price for the company. Finally, Scotiabank lifted their price target on Veracyte from $40.00 to $44.00 and gave the stock 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 issued a buy rating to the company’s stock. According to MarketBeat, Veracyte 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.