AlphaQuest LLC Sells 8,728 Shares of Veracyte, Inc. (NASDAQ:VCYT)

AlphaQuest LLC reduced its position in Veracyte, Inc. (NASDAQ:VCYT) by 88.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,151 shares of the biotechnology company’s stock after selling 8,728 shares during the period. AlphaQuest LLC’s holdings in Veracyte were worth $46,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Jones Financial Companies Lllp increased its position in shares of Veracyte by 49.7% during the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 237 shares during the last quarter. US Bancorp DE boosted its position in shares of Veracyte by 57.4% during the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock valued at $70,000 after acquiring an additional 647 shares during the last quarter. Principal Securities Inc. lifted its position in Veracyte by 34.1% in the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock worth $76,000 after buying an additional 485 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Veracyte in the 4th quarter worth approximately $91,000. Finally, KBC Group NV increased its stake in Veracyte by 13.7% in the 3rd 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.

Insiders Place Their Bets

In other Veracyte news, Director Karin Eastham sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total transaction of $403,000.00. Following the transaction, the director now directly owns 18,497 shares in the company, valued at $745,429.10. This trade represents a 35.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

VCYT has been the topic of several research analyst reports. Craig Hallum assumed coverage on Veracyte in a research note on Thursday. They set a “buy” rating and a $45.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $51.00 price target on shares of Veracyte in a report on Tuesday, February 25th. Guggenheim reissued a “buy” rating and issued a $45.00 target price on shares of Veracyte in a report on Tuesday, February 25th. StockNews.com cut Veracyte from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $37.00 target price (down previously from $38.00) on shares of Veracyte in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.22.

Veracyte Price Performance

NASDAQ:VCYT opened at $31.84 on Friday. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of -212.27 and a beta of 1.80. Veracyte, Inc. has a 1 year low of $18.61 and a 1 year high of $47.32. The business has a 50 day simple moving average of $38.72 and a 200-day simple moving average of $37.61.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The firm had revenue of $118.63 million during the quarter, compared to analyst estimates of $110.73 million. During the same period last year, the company earned ($0.39) EPS. As a group, analysts expect that Veracyte, Inc. will post 0.68 earnings per share 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.