EFG Asset Management Americas Corp. Sells 1,375 Shares of Veracyte, Inc. (NASDAQ:VCYT)

EFG Asset Management Americas Corp. lessened its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 10.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,338 shares of the biotechnology company’s stock after selling 1,375 shares during the period. EFG Asset Management Americas Corp.’s holdings in Veracyte were worth $339,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dark Forest Capital Management LP bought a new stake in Veracyte during the 3rd quarter worth approximately $506,000. ARK Investment Management LLC increased its holdings in Veracyte by 0.8% during the 4th quarter. ARK Investment Management LLC now owns 7,655,603 shares of the biotechnology company’s stock worth $210,606,000 after acquiring an additional 62,011 shares during the period. Diversified Trust Co increased its holdings 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 period. Qube Research & Technologies Ltd increased its holdings in Veracyte by 55.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 166,732 shares of the biotechnology company’s stock worth $3,723,000 after acquiring an additional 59,484 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new stake in Veracyte during the 4th quarter worth approximately $9,586,000.

Insider Activity

In other news, Director Karin Eastham sold 10,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $21.65, for a total value of $216,500.00. Following the completion of the sale, the director now owns 33,125 shares of the company’s stock, valued at approximately $717,156.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Veracyte Price Performance

Shares of NASDAQ:VCYT opened at $19.45 on Monday. Veracyte, Inc. has a one year low of $18.61 and a one year high of $30.52. The company’s fifty day moving average price is $22.15 and its 200-day moving average price is $23.96.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. Veracyte had a negative net margin of 20.61% and a negative return on equity of 2.02%. The company had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $95.49 million. Equities research analysts predict that Veracyte, Inc. will post -0.29 EPS 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.