Los Angeles Capital Management & Equity Research Inc. boosted its position in Veracyte Inc (NASDAQ:VCYT) by 3.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,535 shares of the biotechnology company’s stock after purchasing an additional 390 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Veracyte were worth $329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Gilder Gagnon Howe & Co. LLC bought a new position in shares of Veracyte in the 1st quarter worth $86,400,000. Nikko Asset Management Americas Inc. increased its holdings in shares of Veracyte by 23,740.9% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 609,134 shares of the biotechnology company’s stock worth $15,241,000 after buying an additional 606,579 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Veracyte in the 1st quarter worth $14,934,000. William Blair Investment Management LLC bought a new position in shares of Veracyte in the 1st quarter worth $11,887,000. Finally, Laurion Capital Management LP bought a new position in shares of Veracyte in the 1st quarter worth $8,877,000. Institutional investors and hedge funds own 91.14% of the company’s stock.
VCYT has been the topic of a number of research analyst reports. Lake Street Capital initiated coverage on shares of Veracyte in a report on Wednesday, July 31st. They issued a “buy” rating and a $35.00 price target on the stock. ValuEngine lowered shares of Veracyte from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. TheStreet raised shares of Veracyte from a “d” rating to a “c-” rating in a report on Thursday, August 1st. BidaskClub lowered shares of Veracyte from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd. Finally, Zacks Investment Research raised shares of Veracyte from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Saturday, May 4th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $25.06.
Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Tuesday, July 30th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04. Veracyte had a negative net margin of 11.01% and a negative return on equity of 10.26%. The company had revenue of $30.14 million during the quarter, compared to analysts’ expectations of $29.20 million. On average, research analysts anticipate that Veracyte Inc will post -0.23 earnings per share for the current year.
In other Veracyte news, insider Giulia C. Kennedy sold 28,257 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $25.38, for a total transaction of $717,162.66. Following the completion of the sale, the insider now directly owns 56,575 shares in the company, valued at approximately $1,435,873.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Bonnie H. Anderson sold 8,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $26.33, for a total transaction of $210,640.00. Following the sale, the chairman now owns 127,955 shares of the company’s stock, valued at $3,369,055.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,257 shares of company stock valued at $1,756,063. 8.30% of the stock is currently owned by corporate insiders.
Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.
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