Veracyte, Inc. (NASDAQ:VCYT) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,141 shares of the biotechnology company’s stock after buying an additional 711 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Veracyte were worth $554,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Dark Forest Capital Management LP bought a new stake in shares of Veracyte during the 3rd quarter worth $506,000. ARK Investment Management LLC increased its position in shares of Veracyte by 0.8% in the fourth 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 in the last quarter. Diversified Trust Co raised its holdings in shares of Veracyte by 4.0% during the fourth quarter. Diversified Trust Co now owns 14,810 shares of the biotechnology company’s stock valued at $407,000 after acquiring an additional 575 shares during the period. Qube Research & Technologies Ltd raised its holdings in shares of Veracyte by 55.5% during the third quarter. Qube Research & Technologies Ltd now owns 166,732 shares of the biotechnology company’s stock valued at $3,723,000 after acquiring an additional 59,484 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Veracyte in the 4th quarter valued at approximately $9,586,000.

Veracyte Trading Up 2.9 %

Shares of NASDAQ:VCYT opened at $20.13 on Thursday. The business has a fifty day simple moving average of $21.31 and a 200 day simple moving average of $23.84. Veracyte, Inc. has a 1 year low of $18.61 and a 1 year high of $30.52. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -19.54 and a beta of 1.62.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. Veracyte had a negative return on equity of 2.02% and a negative net margin of 20.61%. The business had revenue of $98.20 million during the quarter, compared to analyst estimates of $95.49 million. On average, sell-side analysts forecast that Veracyte, Inc. will post -0.29 EPS for the current year.

Insiders Place Their Bets

In other news, Director Karin Eastham sold 10,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $21.65, for a total transaction of $216,500.00. Following the transaction, the director now owns 33,125 shares in the company, valued at approximately $717,156.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Veracyte

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.