Handelsbanken Fonder AB Has $1.04 Million Stake in Veracyte, Inc. (NASDAQ:VCYT)

Handelsbanken Fonder AB reduced its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,206 shares of the biotechnology company’s stock after selling 1,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Veracyte were worth $1,038,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Jennison Associates LLC grew its holdings in shares of Veracyte by 116.3% during the fourth quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company’s stock worth $33,017,000 after purchasing an additional 448,251 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in Veracyte during the third quarter worth about $9,498,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Veracyte by 288.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 360,871 shares of the biotechnology company’s stock worth $12,284,000 after purchasing an additional 268,000 shares during the period. Jane Street Group LLC raised its position in shares of Veracyte by 276.4% during the third quarter. Jane Street Group LLC now owns 301,652 shares of the biotechnology company’s stock worth $10,268,000 after purchasing an additional 221,504 shares during the period. Finally, Castleark Management LLC acquired a new stake in Veracyte in the 3rd quarter valued at approximately $6,010,000.

Insider Buying and Selling at Veracyte

In related news, CFO Rebecca Chambers sold 7,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $43.23, for a total transaction of $302,610.00. Following the sale, the chief financial officer now owns 114,037 shares in the company, valued at $4,929,819.51. This represents a 5.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karin Eastham sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total value of $403,000.00. Following the sale, the director now owns 18,497 shares in the company, valued at approximately $745,429.10. The trade was a 35.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,533 shares of company stock worth $815,584. Insiders own 1.30% of the company’s stock.

Veracyte Stock Down 4.8 %

Shares of VCYT opened at $33.84 on Friday. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $47.32. The business has a 50-day simple moving average of $41.63 and a two-hundred day simple moving average of $37.61. The stock has a market cap of $2.62 billion, a PE ratio of -225.60 and a beta of 1.71.

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

Analyst Ratings Changes

A number of research analysts have weighed in on the company. UBS Group raised their price target on Veracyte from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Tuesday. StockNews.com downgraded Veracyte from a “buy” rating to a “hold” rating in a research note on Wednesday. Guggenheim restated a “buy” rating and issued a $45.00 price target on shares of Veracyte in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Veracyte in a report on Tuesday. Finally, Morgan Stanley lifted their price objective on Veracyte from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Veracyte presently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Veracyte 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.