Guggenheim Capital LLC Decreases Stock Holdings in Veracyte, Inc. (NASDAQ:VCYT)

Guggenheim Capital LLC lowered its position in Veracyte, Inc. (NASDAQ:VCYT – Get Rating) by 8.7% during the third quarter, Holdings Channel reports. The institutional investor owned 45,511 shares of the biotechnology company’s stock after selling 4,346 shares during the quarter. Guggenheim Capital LLC’s holdings in Veracyte were worth $755,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in Veracyte by 21.0% in the first quarter. JPMorgan Chase & Co. now owns 55,320 shares of the biotechnology company’s stock worth $1,525,000 after purchasing an additional 9,589 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Veracyte by 48.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,959 shares of the biotechnology company’s stock valued at $164,000 after buying an additional 1,953 shares in the last quarter. MetLife Investment Management LLC increased its position in Veracyte by 54.5% during the 1st quarter. MetLife Investment Management LLC now owns 37,950 shares of the biotechnology company’s stock valued at $1,046,000 after buying an additional 13,393 shares in the last quarter. Synovus Financial Corp raised its stake in Veracyte by 65.4% in the first quarter. Synovus Financial Corp now owns 18,806 shares of the biotechnology company’s stock valued at $515,000 after buying an additional 7,434 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. acquired a new stake in Veracyte in the first quarter worth about $10,440,000.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Needham & Company LLC increased their price objective on shares of Veracyte from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, February 23rd. StockNews.com raised shares of Veracyte from a “sell” rating to a “hold” rating in a report on Tuesday, February 7th. Scotiabank initiated coverage on shares of Veracyte in a research note on Wednesday, January 4th. They set a “sector outperform” rating and a $33.00 price objective for the company. Finally, Raymond James downgraded Veracyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $30.20.

Insider Transactions at Veracyte

In related news, Director Evan/ Fa Jones sold 1,667 shares of Veracyte stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $30.71, for a total transaction of $51,193.57. Following the completion of the transaction, the director now directly owns 50,784 shares in the company, valued at $1,559,576.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Evan/ Fa Jones sold 1,667 shares of the firm’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $30.71, for a total transaction of $51,193.57. Following the sale, the director now owns 50,784 shares in the company, valued at $1,559,576.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Bonnie H. Anderson sold 34,000 shares of Veracyte stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $26.35, for a total transaction of $895,900.00. Following the completion of the transaction, the director now directly owns 62,961 shares of the company’s stock, valued at approximately $1,659,022.35. The disclosure for this sale can be found here. Insiders have sold 98,914 shares of company stock worth $2,536,491 over the last quarter. 2.90% of the stock is currently owned by insiders.

Veracyte Stock Up 1.6 %

VCYT stock opened at $23.77 on Thursday. Veracyte, Inc. has a 12 month low of $14.85 and a 12 month high of $32.40. The firm’s fifty day simple moving average is $24.90 and its 200-day simple moving average is $22.99.

Veracyte (NASDAQ:VCYT – Get Rating) last posted its earnings results on Wednesday, February 22nd. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. The company had revenue of $80.30 million during the quarter, compared to the consensus estimate of $74.92 million. Veracyte had a negative net margin of 12.33% and a negative return on equity of 3.42%. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.15) earnings per share. On average, equities analysts anticipate that Veracyte, Inc. will post -0.55 EPS for the current fiscal year.

About Veracyte

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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.