Rafferty Asset Management LLC Sells 52,956 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Rafferty Asset Management LLC trimmed its stake in shares of Veracyte, Inc. (NASDAQ:VCYTFree Report) by 24.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 159,465 shares of the biotechnology company’s stock after selling 52,956 shares during the period. Rafferty Asset Management LLC’s holdings in Veracyte were worth $4,387,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Diversified Trust Co increased its holdings in 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 buying an additional 575 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Veracyte by 3.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,141 shares of the biotechnology company’s stock valued at $554,000 after buying an additional 711 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Veracyte by 3.4% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 36,463 shares of the biotechnology company’s stock valued at $814,000 after buying an additional 1,204 shares during the last quarter. Synovus Financial Corp increased its holdings in Veracyte by 8.9% during the third quarter. Synovus Financial Corp now owns 15,598 shares of the biotechnology company’s stock valued at $348,000 after buying an additional 1,279 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Veracyte by 2.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,801 shares of the biotechnology company’s stock valued at $1,246,000 after buying an additional 1,589 shares during the last quarter.

Insider Activity at Veracyte

In related 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 completion of the transaction, the director now directly owns 33,125 shares of the company’s stock, valued at $717,156.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Veracyte news, Director Karin Eastham sold 10,000 shares of Veracyte 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 transaction, the director now directly 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 accessible through this link. Also, Director Muna Bhanji sold 1,539 shares of Veracyte stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $21.00, for a total transaction of $32,319.00. Following the completion of the transaction, the director now directly owns 26,975 shares of the company’s stock, valued at $566,475. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on VCYT shares. William Blair reaffirmed an “outperform” rating on shares of Veracyte in a report on Friday, February 23rd. Morgan Stanley decreased their price objective on shares of Veracyte from $22.00 to $21.00 and set an “underweight” rating on the stock in a research report on Monday, February 26th. Needham & Company LLC decreased their price objective on shares of Veracyte from $33.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Finally, The Goldman Sachs Group decreased their price objective on shares of Veracyte from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.50.

Check Out Our Latest Stock Report on Veracyte

Veracyte Stock Down 3.5 %

VCYT opened at $20.65 on Friday. The company has a fifty day moving average of $20.79 and a 200 day moving average of $23.66. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $30.52.

Veracyte (NASDAQ:VCYTGet Free Report) last posted its earnings results on Tuesday, May 7th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.17. The company had revenue of $96.84 million during the quarter, compared to analysts’ expectations of $93.35 million. Veracyte had a negative net margin of 18.16% and a negative return on equity of 1.42%. Veracyte’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period last year, the company posted ($0.11) earnings per share. Sell-side analysts predict that Veracyte, Inc. will post -0.12 earnings per share for the current year.

About Veracyte

(Free Report)

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.

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Institutional Ownership by Quarter for Veracyte (NASDAQ:VCYT)

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