OLD National Bancorp IN Invests $205,000 in Veracyte, Inc. (NASDAQ:VCYT)

OLD National Bancorp IN bought a new position in shares of Veracyte, Inc. (NASDAQ:VCYT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,447 shares of the biotechnology company’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its stake in Veracyte by 96.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,862 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 913 shares in the last quarter. CWM LLC raised its stake in Veracyte by 533.0% in the third quarter. CWM LLC now owns 2,146 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 1,807 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in Veracyte in the third quarter valued at about $84,000. Assetmark Inc. raised its stake in Veracyte by 16.9% in the third quarter. Assetmark Inc. now owns 8,573 shares of the biotechnology company’s stock valued at $191,000 after purchasing an additional 1,239 shares in the last quarter. Finally, Inspire Investing LLC acquired a new position in Veracyte in the third quarter valued at about $307,000.

Analyst Ratings Changes

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

Veracyte Trading Down 0.9 %

Veracyte stock opened at $19.31 on Friday. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $30.52. The business’s 50-day moving average price is $21.60 and its two-hundred day moving average price is $23.86.

Veracyte (NASDAQ:VCYT) last released its earnings results 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. The firm had revenue of $98.20 million for the quarter, compared to analysts’ expectations of $95.49 million. Veracyte had a negative return on equity of 2.02% and a negative net margin of 20.61%. As a group, equities research analysts forecast that Veracyte, Inc. will post -0.29 EPS for the current year.

Insider Transactions at Veracyte

In other news, Director Karin Eastham sold 10,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $21.65, for a total transaction of $216,500.00. Following the sale, the director now directly owns 33,125 shares in the company, valued at $717,156.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.60% of the company’s stock.

Veracyte Company 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.