Veracyte, Inc. (NASDAQ:VCYT) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Veracyte, Inc. (NASDAQ:VCYT) by 24.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,167 shares of the biotechnology company’s stock after purchasing an additional 5,123 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Veracyte were worth $1,036,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp grew its position in shares of Veracyte by 49.7% in the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 237 shares in the last quarter. Arizona State Retirement System lifted its stake in Veracyte by 1.2% during the fourth quarter. Arizona State Retirement System now owns 22,276 shares of the biotechnology company’s stock worth $882,000 after purchasing an additional 264 shares during the last quarter. KBC Group NV boosted its holdings in Veracyte by 13.7% in the third quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock worth $91,000 after purchasing an additional 323 shares during the period. Principal Securities Inc. increased its stake in Veracyte by 34.1% during the fourth quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock valued at $76,000 after purchasing an additional 485 shares during the last quarter. Finally, US Bancorp DE increased its stake in Veracyte by 57.4% during the fourth 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 during the last quarter.

Insider Transactions at Veracyte

In related news, Director Karin Eastham sold 10,000 shares of the firm’s stock in a transaction that occurred 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 $745,429.10. This trade represents a 35.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on VCYT. Guggenheim reaffirmed a “buy” rating and issued a $45.00 price target on shares of Veracyte in a report on Tuesday, February 25th. UBS Group lifted their target price on Veracyte from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. StockNews.com cut Veracyte from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group restated a “neutral” rating and set a $37.00 price objective (down previously from $38.00) on shares of Veracyte in a research report on Thursday, December 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $51.00 target price on shares of Veracyte in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Veracyte Price Performance

Shares of Veracyte stock opened at $31.78 on Thursday. Veracyte, Inc. has a 1-year low of $18.61 and a 1-year high of $47.32. The business’s fifty day moving average price is $38.96 and its two-hundred day moving average price is $37.65. The company has a market capitalization of $2.48 billion, a P/E ratio of -211.87 and a beta of 1.80.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The business 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 period in the previous year, the business earned ($0.39) earnings per share. On average, research analysts expect that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

About Veracyte

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.