OLD National Bancorp IN Acquires New Position in Veracyte, Inc. (NASDAQ:VCYT)

OLD National Bancorp IN acquired a new stake in shares of Veracyte, Inc. (NASDAQ:VCYT) during the fourth quarter, HoldingsChannel reports. The fund acquired 7,447 shares of the biotechnology company’s stock, valued at approximately $205,000.

A number of other large investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Veracyte by 3.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,141 shares of the biotechnology company’s stock valued at $554,000 after buying an additional 711 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Veracyte by 353.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,448 shares of the biotechnology company’s stock valued at $232,000 after buying an additional 6,586 shares in the last quarter. ARK Investment Management LLC raised its holdings in shares of Veracyte by 0.8% during the 4th quarter. ARK Investment Management LLC now owns 7,655,603 shares of the biotechnology company’s stock valued at $210,606,000 after buying an additional 62,011 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Veracyte during the 4th quarter valued at about $9,586,000. Finally, Diversified Trust Co grew its position in Veracyte by 4.0% during the 4th quarter. Diversified Trust Co now owns 14,810 shares of the biotechnology company’s stock worth $407,000 after acquiring an additional 575 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Needham & Company LLC raised their price target on Veracyte from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. The Goldman Sachs Group reduced their price target on Veracyte from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, April 15th. Morgan Stanley reduced their price target on Veracyte from $22.00 to $21.00 and set an “underweight” rating on the stock in a research report on Monday, February 26th. Finally, William Blair restated an “outperform” rating on shares of Veracyte in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Veracyte presently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

Insider Activity

In other news, Director Karin Eastham sold 10,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $717,156.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.60% of the company’s stock.

Veracyte Price Performance

VCYT opened at $19.31 on Friday. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $30.52. The stock’s 50 day moving average price is $21.60 and its 200-day moving average price is $23.86.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Thursday, February 22nd. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. Veracyte had a negative return on equity of 2.02% and a negative net margin of 20.61%. The firm had revenue of $98.20 million for the quarter, compared to analysts’ expectations of $95.49 million. As a group, sell-side analysts predict that Veracyte, Inc. will post -0.29 earnings per share for the current fiscal year.

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.