Rhumbline Advisers Grows Stock Holdings in Veracyte, Inc. (NASDAQ:VCYT)

Rhumbline Advisers grew its stake in Veracyte, Inc. (NASDAQ:VCYT) by 0.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,324 shares of the biotechnology company’s stock after purchasing an additional 675 shares during the period. Rhumbline Advisers’ holdings in Veracyte were worth $4,884,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of VCYT. KBC Group NV raised its holdings in shares of Veracyte by 13.7% in the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 323 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Veracyte by 21.7% in 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 acquiring an additional 496 shares in the last quarter. Bellevue Group AG acquired a new position in shares of Veracyte during the third quarter worth $123,000. Virtus Fund Advisers LLC increased its position in Veracyte by 32.9% during the 3rd quarter. Virtus Fund Advisers LLC now owns 4,798 shares of the biotechnology company’s stock valued at $163,000 after buying an additional 1,189 shares in the last quarter. Finally, RiverPark Advisors LLC acquired a new stake in Veracyte in the third quarter worth about $166,000.

Veracyte Price Performance

Shares of NASDAQ:VCYT opened at $33.84 on Friday. The business’s 50 day moving average price is $41.63 and its 200-day moving average price is $37.61. Veracyte, Inc. has a 1 year low of $18.61 and a 1 year high of $47.32. The firm has a market capitalization of $2.62 billion, a PE ratio of -225.60 and a beta of 1.71.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $118.63 million for the quarter, compared to analyst estimates of $110.73 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. During the same period in the previous year, the business posted ($0.39) earnings per share. As a group, analysts expect that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Wall Street Analyst Weigh In

VCYT has been the subject of a number of research analyst reports. StockNews.com cut shares of Veracyte from a “buy” rating to a “hold” rating in a report on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $51.00 price objective on shares of Veracyte in a report on Tuesday. Morgan Stanley lifted their price target on Veracyte from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Monday, November 18th. UBS Group raised their price objective on shares of Veracyte from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Scotiabank increased their price target on shares of Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Insider Activity at Veracyte

In other news, CFO Rebecca Chambers sold 7,000 shares of Veracyte stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $43.23, for a total transaction of $302,610.00. Following the transaction, the chief financial officer now owns 114,037 shares in the company, valued at $4,929,819.51. The trade was a 5.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Leite sold 1,050 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $43.25, for a total transaction of $45,412.50. Following the completion of the sale, the insider now directly owns 73,810 shares of the company’s stock, valued at $3,192,282.50. This represents a 1.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,533 shares of company stock valued at $815,584. 1.30% of the stock is currently owned by insiders.

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.