Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in Veracyte, Inc. $VCYT

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 19.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 279,188 shares of the biotechnology company’s stock after acquiring an additional 44,992 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.36% of Veracyte worth $7,546,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Xponance Inc. boosted its position in shares of Veracyte by 5.7% in the first quarter. Xponance Inc. now owns 6,860 shares of the biotechnology company’s stock worth $203,000 after purchasing an additional 370 shares during the period. Blair William & Co. IL lifted its stake in shares of Veracyte by 3.5% during the 1st quarter. Blair William & Co. IL now owns 16,092 shares of the biotechnology company’s stock valued at $477,000 after buying an additional 550 shares in the last quarter. Huntleigh Advisors Inc. boosted its holdings in Veracyte by 4.2% in the 2nd quarter. Huntleigh Advisors Inc. now owns 21,809 shares of the biotechnology company’s stock worth $590,000 after buying an additional 876 shares during the period. Allianz Asset Management GmbH increased its stake in Veracyte by 1.1% in the 1st quarter. Allianz Asset Management GmbH now owns 79,310 shares of the biotechnology company’s stock worth $2,352,000 after buying an additional 900 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Veracyte in the 2nd quarter worth $25,000.

Analyst Upgrades and Downgrades

VCYT has been the subject of a number of recent analyst reports. Needham & Company LLC upped their price objective on Veracyte from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Wall Street Zen raised Veracyte from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Weiss Ratings raised shares of Veracyte from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, November 7th. Guggenheim lifted their price objective on shares of Veracyte from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Finally, Zacks Research raised shares of Veracyte from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Veracyte presently has an average rating of “Moderate Buy” and an average target price of $44.11.

Veracyte Price Performance

NASDAQ:VCYT opened at $42.30 on Thursday. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 128.19 and a beta of 2.16. Veracyte, Inc. has a 1 year low of $22.61 and a 1 year high of $47.32. The stock’s 50 day simple moving average is $35.31 and its two-hundred day simple moving average is $30.31.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Tuesday, November 4th. The biotechnology company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.19. Veracyte had a return on equity of 6.07% and a net margin of 5.50%.The firm had revenue of $131.87 million during the quarter, compared to the consensus estimate of $124.62 million. During the same period in the prior year, the company earned $0.33 EPS. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. Veracyte has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Veracyte, Inc. will post 0.68 EPS for the current year.

Insiders Place Their Bets

In other Veracyte news, CFO Rebecca Chambers sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $41.00, for a total transaction of $287,000.00. Following the sale, the chief financial officer directly owned 126,158 shares of the company’s stock, valued at $5,172,478. The trade was a 5.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Evan/ Fa Jones sold 43,196 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $45.06, for a total value of $1,946,411.76. Following the sale, the director owned 30,468 shares in the company, valued at approximately $1,372,888.08. This trade represents a 58.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 84,635 shares of company stock worth $3,490,004. Insiders own 1.40% of the company’s stock.

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.