Castleark Management LLC bought a new stake in Veracyte, Inc. (NASDAQ:VCYT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 72,016 shares of the biotechnology company's stock, valued at approximately $4,230,000. Castleark Management LLC owned approximately 0.09% of Veracyte as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently bought and sold shares of VCYT. GAMMA Investing LLC raised its holdings in shares of Veracyte by 21.2% in the second quarter. GAMMA Investing LLC now owns 1,121 shares of the biotechnology company's stock valued at $66,000 after purchasing an additional 196 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Veracyte by 2.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,100 shares of the biotechnology company's stock valued at $762,000 after acquiring an additional 400 shares in the last quarter. California State Teachers Retirement System raised its holdings in Veracyte by 0.8% during the second quarter. California State Teachers Retirement System now owns 71,095 shares of the biotechnology company's stock worth $1,922,000 after acquiring an additional 566 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in Veracyte by 7.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 7,894 shares of the biotechnology company's stock valued at $332,000 after purchasing an additional 576 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Veracyte by 159.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,104 shares of the biotechnology company's stock valued at $47,000 after purchasing an additional 679 shares in the last quarter.
Insider Buying and Selling
In related news, CFO Rebecca Chambers sold 3,561 shares of the company's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $49.73, for a total transaction of $177,088.53. Following the completion of the sale, the chief financial officer owned 173,280 shares of the company's stock, valued at $8,617,214.40. This represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Annie Mcguire sold 3,176 shares of the firm's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $49.76, for a total transaction of $158,037.76. Following the completion of the transaction, the executive vice president directly owned 137,240 shares in the company, valued at approximately $6,829,062.40. This represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 162,492 shares of company stock valued at $8,151,197 in the last ninety days. Insiders own 1.60% of the company's stock.
Veracyte Stock Up 6.2%
NASDAQ VCYT opened at $44.04 on Wednesday. The company has a market capitalization of $3.54 billion, a P/E ratio of 31.23 and a beta of 1.95. Veracyte, Inc. has a 12-month low of $28.25 and a 12-month high of $60.91. The firm has a 50-day moving average price of $52.43 and a two-hundred day moving average price of $42.72.
Veracyte (NASDAQ:VCYT - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The biotechnology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.13. Veracyte had a return on equity of 9.26% and a net margin of 20.37%.The business had revenue of $150.32 million for the quarter, compared to the consensus estimate of $144.59 million. During the same quarter in the prior year, the business posted $0.44 earnings per share. The firm's quarterly revenue was up 15.5% compared to the same quarter last year. Equities analysts expect that Veracyte, Inc. will post 1.32 EPS for the current year.
Analysts Set New Price Targets
VCYT has been the topic of a number of analyst reports. Piper Sandler dropped their price objective on Veracyte from $66.00 to $54.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 4th. Needham & Company LLC boosted their target price on shares of Veracyte from $57.00 to $69.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Guggenheim upped their price target on shares of Veracyte from $45.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. Stephens cut their price target on shares of Veracyte from $68.00 to $55.00 and set an "overweight" rating for the company in a research note on Tuesday, August 4th. Finally, Morgan Stanley cut their price target on shares of Veracyte from $47.00 to $44.00 and set an "underweight" rating for the company in a research note on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $54.33.
Read Our Latest Stock Report on Veracyte
Veracyte Company Profile
(
Free Report)
Veracyte, Inc is a genomic diagnostics company focused on improving diagnostic accuracy and patient care through advanced molecular testing. Founded in 2008 and headquartered in South San Francisco, California, the company develops and commercializes minimally invasive genomic tests that aid in the diagnosis of thyroid, lung and other diseases. Veracyte's proprietary platform analyzes gene expression patterns in clinical samples to help physicians make more informed treatment decisions, reducing unnecessary surgeries and improving patient outcomes.
The company's flagship product, the Afirma Genomic Sequencing Classifier, is designed to assess thyroid nodules with indeterminate cytology, helping clinicians distinguish benign from suspicious nodules.
Further Reading
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