State Street Corp Has $99.28 Million Holdings in Veracyte, Inc. (NASDAQ:VCYT)

State Street Corp raised its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 0.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,916,515 shares of the biotechnology company’s stock after buying an additional 7,920 shares during the period. State Street Corp owned about 3.76% of Veracyte worth $99,278,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. William Blair Investment Management LLC boosted its stake in Veracyte by 67.4% in the second quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company’s stock worth $26,907,000 after purchasing an additional 500,020 shares in the last quarter. Granite Investment Partners LLC raised its holdings in shares of Veracyte by 2.1% in the second quarter. Granite Investment Partners LLC now owns 934,994 shares of the biotechnology company’s stock valued at $20,261,000 after buying an additional 19,244 shares during the last quarter. Eventide Asset Management LLC lifted its position in Veracyte by 20.2% during the 3rd quarter. Eventide Asset Management LLC now owns 677,883 shares of the biotechnology company’s stock worth $23,075,000 after buying an additional 113,883 shares in the last quarter. Fiera Capital Corp grew its holdings in Veracyte by 1.2% during the 2nd quarter. Fiera Capital Corp now owns 625,536 shares of the biotechnology company’s stock worth $13,555,000 after acquiring an additional 7,219 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Veracyte in the 2nd quarter valued at about $12,279,000.

Veracyte Trading Down 2.7 %

NASDAQ:VCYT opened at $43.22 on Monday. Veracyte, Inc. has a 1-year low of $18.61 and a 1-year high of $46.00. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of -288.13 and a beta of 1.69. The business’s 50-day moving average price is $37.71 and its two-hundred day moving average price is $30.61.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.16. The business had revenue of $115.86 million for the quarter, compared to the consensus estimate of $109.81 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. Veracyte’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same period last year, the company posted ($0.03) EPS. Sell-side analysts predict that Veracyte, Inc. will post 0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on VCYT shares. Morgan Stanley upped their target price on shares of Veracyte from $26.00 to $28.00 and gave the stock an “underweight” rating in a research report on Monday, November 18th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $37.00 price objective (down from $38.00) on shares of Veracyte in a research report on Thursday, December 5th. UBS Group boosted their target price on Veracyte from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Guggenheim began coverage on Veracyte in a report on Thursday, October 10th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, Leerink Partners lifted their price objective on Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.13.

Insider Transactions at Veracyte

In other news, CFO Rebecca Chambers sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $43.23, for a total transaction of $302,610.00. Following the sale, the chief financial officer now owns 114,037 shares of the company’s stock, valued at $4,929,819.51. This trade represents a 5.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Evan/ Fa Jones sold 5,173 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $35.23, for a total value of $182,244.79. Following the completion of the transaction, the director now owns 34,343 shares of the company’s stock, valued at $1,209,903.89. This represents a 13.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,211 shares of company stock valued at $787,542 over the last three months. 1.30% of the stock is currently owned by corporate insiders.

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.