Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Diversified Trust Co

Diversified Trust Co lessened its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 47.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 17,049 shares of the biotechnology company’s stock after selling 15,612 shares during the quarter. Diversified Trust Co’s holdings in Veracyte were worth $675,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in shares of Veracyte by 12.6% in the second quarter. Bank of New York Mellon Corp now owns 281,810 shares of the biotechnology company’s stock valued at $6,107,000 after acquiring an additional 31,613 shares in the last quarter. Rhumbline Advisers boosted its stake in Veracyte by 6.7% during the 2nd quarter. Rhumbline Advisers now owns 128,774 shares of the biotechnology company’s stock valued at $2,791,000 after purchasing an additional 8,096 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Veracyte by 21.8% during the 2nd quarter. Victory Capital Management Inc. now owns 87,555 shares of the biotechnology company’s stock valued at $1,897,000 after purchasing an additional 15,647 shares in the last quarter. Arizona State Retirement System increased its position in shares of Veracyte by 3.7% during the 2nd quarter. Arizona State Retirement System now owns 20,806 shares of the biotechnology company’s stock valued at $451,000 after purchasing an additional 733 shares during the period. Finally, Quest Partners LLC raised its stake in shares of Veracyte by 34.0% in the 2nd quarter. Quest Partners LLC now owns 20,580 shares of the biotechnology company’s stock worth $446,000 after buying an additional 5,223 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Guggenheim started coverage on Veracyte in a research note on Thursday, October 10th. They set a “buy” rating and a $40.00 target price for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $37.00 price objective (down previously from $38.00) on shares of Veracyte in a research note on Thursday, December 5th. Needham & Company LLC increased their target price on shares of Veracyte from $37.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Morgan Stanley lifted their price target 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. Finally, UBS Group increased their price objective on Veracyte from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Veracyte presently has an average rating of “Moderate Buy” and a consensus price target of $41.13.

Insider Transactions at Veracyte

In other Veracyte news, CFO Rebecca Chambers sold 7,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $43.23, for a total value of $302,610.00. Following the completion of the sale, the chief financial officer now owns 114,037 shares in the company, valued at $4,929,819.51. This represents a 5.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Karin Eastham sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total transaction of $403,000.00. Following the transaction, the director now owns 18,497 shares in the company, valued at approximately $745,429.10. This represents a 35.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,038 shares of company stock valued at $1,008,297 over the last three months. 1.30% of the stock is owned by corporate insiders.

Veracyte Stock Performance

NASDAQ VCYT opened at $43.78 on Friday. The firm’s 50 day moving average price is $40.43 and its two-hundred day moving average price is $33.04. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of -291.87 and a beta of 1.71. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $46.00.

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

Veracyte 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.