Swiss National Bank Boosts Position in Veracyte, Inc. (NASDAQ:VCYT)

Swiss National Bank boosted its position in shares of Veracyte, Inc. (NASDAQ:VCYT – Get Rating) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 172,900 shares of the biotechnology company’s stock after acquiring an additional 3,500 shares during the quarter. Swiss National Bank’s holdings in Veracyte were worth $4,103,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Veracyte by 0.8% during the third quarter. Vanguard Group Inc. now owns 6,755,991 shares of the biotechnology company’s stock valued at $112,149,000 after acquiring an additional 52,097 shares during the last quarter. State Street Corp raised its stake in shares of Veracyte by 1.5% in the third quarter. State Street Corp now owns 5,223,896 shares of the biotechnology company’s stock worth $86,717,000 after buying an additional 79,565 shares during the period. Invesco Ltd. raised its stake in shares of Veracyte by 0.4% in the first quarter. Invesco Ltd. now owns 4,131,597 shares of the biotechnology company’s stock worth $113,908,000 after buying an additional 17,566 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Veracyte by 2.0% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,064,445 shares of the biotechnology company’s stock worth $72,719,000 after buying an additional 60,527 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Veracyte by 20.0% in the fourth quarter. Fisher Asset Management LLC now owns 2,085,604 shares of the biotechnology company’s stock worth $49,491,000 after buying an additional 348,096 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently commented on VCYT shares. StockNews.com started coverage on Veracyte in a research note on Thursday. They issued a “hold” rating on the stock. Needham & Company LLC lifted their target price on Veracyte from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Veracyte has an average rating of “Hold” and a consensus target price of $30.20.

Veracyte Price Performance

NASDAQ VCYT opened at $24.39 on Friday. The stock has a market capitalization of $1.77 billion, a PE ratio of -59.49 and a beta of 1.40. The business has a 50 day simple moving average of $22.58 and a two-hundred day simple moving average of $24.51. Veracyte, Inc. has a 1-year low of $14.92 and a 1-year high of $32.40.

Veracyte (NASDAQ:VCYT – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.03. The business had revenue of $82.40 million during the quarter, compared to analysts’ expectations of $75.75 million. Veracyte had a negative return on equity of 2.83% and a negative net margin of 9.70%. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.20) EPS. On average, analysts anticipate that Veracyte, Inc. will post -0.55 EPS for the current fiscal year.

Insider Transactions at Veracyte

In other news, Director Bonnie H. Anderson sold 34,000 shares of Veracyte stock in a transaction that occurred on Friday, April 14th. The stock was sold at an average price of $22.04, for a total value of $749,360.00. Following the completion of the transaction, the director now owns 42,681 shares in the company, valued at approximately $940,689.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.90% of the company’s stock.

Veracyte Profile

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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.