Veracyte, Inc. $VCYT Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 2.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,881,090 shares of the biotechnology company's stock after purchasing an additional 80,614 shares during the period. Dimensional Fund Advisors LP owned approximately 3.61% of Veracyte worth $92,787,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. AEGON ASSET MANAGEMENT UK Plc boosted its holdings in shares of Veracyte by 19.5% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 489,418 shares of the biotechnology company's stock worth $20,604,000 after buying an additional 79,817 shares during the period. William Blair Investment Management LLC raised its holdings in shares of Veracyte by 16.6% during the fourth quarter. William Blair Investment Management LLC now owns 790,425 shares of the biotechnology company's stock valued at $33,277,000 after acquiring an additional 112,516 shares during the period. Corient Private Wealth LLC acquired a new stake in shares of Veracyte during the fourth quarter valued at approximately $5,475,000. BNP Paribas Financial Markets lifted its position in shares of Veracyte by 392.9% in the 4th quarter. BNP Paribas Financial Markets now owns 352,621 shares of the biotechnology company's stock valued at $14,845,000 after acquiring an additional 281,079 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Veracyte by 12.6% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 138,087 shares of the biotechnology company's stock valued at $5,822,000 after acquiring an additional 15,451 shares in the last quarter.

Veracyte Stock Up 0.1%

VCYT stock opened at $55.71 on Thursday. The company has a 50 day moving average of $53.40 and a two-hundred day moving average of $42.17. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 51.11 and a beta of 1.93. Veracyte, Inc. has a 12-month low of $22.92 and a 12-month high of $60.91.

Veracyte (NASDAQ:VCYT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.34 by $0.18. Veracyte had a net margin of 16.25% and a return on equity of 9.07%. The business had revenue of $139.07 million for the quarter, compared to analysts' expectations of $130.36 million. During the same period in the previous year, the company posted $0.31 EPS. Veracyte's revenue was up 21.5% on a year-over-year basis. On average, research analysts anticipate that Veracyte, Inc. will post 1.27 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on VCYT shares. Needham & Company LLC lifted their price objective on shares of Veracyte from $48.00 to $57.00 and gave the stock a "buy" rating in a research report on Monday, June 1st. Canaccord Genuity Group increased their target price on Veracyte from $42.00 to $60.00 and gave the company a "hold" rating in a report on Tuesday, July 14th. Piper Sandler began coverage on Veracyte in a research report on Wednesday, July 15th. They issued an "overweight" rating and a $66.00 target price for the company. Zacks Research lowered Veracyte from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. Finally, Wall Street Zen raised Veracyte from a "buy" rating to a "strong-buy" rating in a research note on Sunday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $55.88.

Insider Transactions at Veracyte

In other Veracyte news, insider John Leite sold 13,975 shares of the business's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $50.07, for a total value of $699,728.25. Following the transaction, the insider owned 132,305 shares in the company, valued at $6,624,511.35. The trade was a 9.55% decrease in their ownership of the stock. The sale 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, SVP Annie Mcguire sold 10,204 shares of the company's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $39.02, for a total value of $398,160.08. Following the completion of the transaction, the senior vice president directly owned 143,708 shares in the company, valued at approximately $5,607,486.16. The trade was a 6.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 206,696 shares of company stock valued at $10,079,058. Corporate insiders own 1.60% of the company's stock.

Veracyte Company Profile

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.

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