Proficio Capital Partners LLC Invests $1.18 Million in Veracyte, Inc. (NASDAQ:VCYT)

Proficio Capital Partners LLC bought a new stake in Veracyte, Inc. (NASDAQ:VCYT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 29,779 shares of the biotechnology company’s stock, valued at approximately $1,179,000.

A number of other large investors have also added to or reduced their stakes in VCYT. M&T Bank Corp lifted its holdings in Veracyte by 16.5% in the 4th quarter. M&T Bank Corp now owns 71,382 shares of the biotechnology company’s stock worth $2,827,000 after buying an additional 10,121 shares in the last quarter. Keybank National Association OH purchased a new stake in shares of Veracyte during the fourth quarter worth about $288,000. Plato Investment Management Ltd lifted its stake in shares of Veracyte by 432.7% in the fourth quarter. Plato Investment Management Ltd now owns 4,816 shares of the biotechnology company’s stock worth $191,000 after acquiring an additional 3,912 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Veracyte by 49.7% in the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 237 shares during the last quarter. Finally, US Bancorp DE grew its stake in Veracyte by 57.4% during the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock valued at $70,000 after purchasing an additional 647 shares in the last quarter.

Insider Buying and Selling

In other Veracyte news, Director Karin Eastham sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total value of $403,000.00. Following the sale, the director now directly owns 18,497 shares of the company’s stock, valued at $745,429.10. This trade represents a 35.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

VCYT has been the topic of a number of recent analyst reports. StockNews.com lowered Veracyte from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $37.00 price target (down from $38.00) on shares of Veracyte in a report on Thursday, December 5th. Needham & Company LLC reissued a “buy” rating and set a $51.00 price objective on shares of Veracyte in a report on Tuesday, February 25th. Guggenheim restated a “buy” rating and issued a $45.00 target price on shares of Veracyte in a research note on Tuesday, February 25th. Finally, UBS Group increased their price target on shares of Veracyte from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.22.

Veracyte Stock Performance

NASDAQ VCYT opened at $31.84 on Friday. Veracyte, Inc. has a one year low of $18.61 and a one year high of $47.32. The company has a 50-day simple moving average of $38.72 and a 200-day simple moving average of $37.61. The firm has a market capitalization of $2.48 billion, a PE ratio of -212.27 and a beta of 1.80.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $118.63 million for the quarter, compared to analysts’ expectations of $110.73 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. During the same quarter last year, the company posted ($0.39) earnings per share. Equities analysts forecast that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Veracyte Company Profile

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.