Veracyte, Inc. $VCYT Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB decreased its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 12.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 237,715 shares of the biotechnology company’s stock after selling 34,882 shares during the quarter. Nordea Investment Management AB’s holdings in Veracyte were worth $10,127,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. First Horizon Corp purchased a new stake in Veracyte during the 3rd quarter worth approximately $31,000. Osaic Holdings Inc. increased its position in shares of Veracyte by 289.9% during the second quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 893 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Veracyte during the third quarter worth $56,000. GAMMA Investing LLC raised its stake in shares of Veracyte by 146.4% in the fourth quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 864 shares in the last quarter. Finally, Headlands Technologies LLC raised its stake in shares of Veracyte by 74.8% in the second quarter. Headlands Technologies LLC now owns 2,824 shares of the biotechnology company’s stock valued at $76,000 after acquiring an additional 1,208 shares in the last quarter.

Veracyte Price Performance

NASDAQ VCYT opened at $32.79 on Thursday. The company has a fifty day moving average of $36.37 and a two-hundred day moving average of $38.31. The company has a market capitalization of $2.61 billion, a PE ratio of 39.51 and a beta of 1.91. Veracyte, Inc. has a 1 year low of $22.61 and a 1 year high of $50.71.

Veracyte (NASDAQ:VCYT) last announced its earnings results on Wednesday, February 25th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.12. The firm had revenue of $140.64 million during the quarter, compared to analysts’ expectations of $135.79 million. Veracyte had a return on equity of 8.05% and a net margin of 12.83%.The business’s revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS. On average, research analysts expect that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Analysts Set New Price Targets

VCYT has been the subject of several analyst reports. Zacks Research cut Veracyte from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. UBS Group reiterated a “buy” rating on shares of Veracyte in a research note on Monday, January 12th. Guggenheim upped their target price on shares of Veracyte from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Veracyte in a report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Veracyte from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 27th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Veracyte has a consensus rating of “Hold” and an average price target of $45.20.

Insider Transactions at Veracyte

In other news, SVP Annie Mcguire sold 6,658 shares of Veracyte stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $35.55, for a total value of $236,691.90. Following the transaction, the senior vice president directly owned 94,706 shares of the company’s stock, valued at $3,366,798.30. The trade was a 6.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Leite sold 5,260 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $35.19, for a total transaction of $185,099.40. Following the completion of the sale, the insider owned 107,580 shares of the company’s stock, valued at approximately $3,785,740.20. This trade represents a 4.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 75,782 shares of company stock worth $2,722,097 in the last three months. Corporate insiders own 1.40% 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.