Legal & General Group Plc Acquires 135,440 Shares of Veracyte, Inc. $VCYT

Legal & General Group Plc raised its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 30.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 581,182 shares of the biotechnology company’s stock after buying an additional 135,440 shares during the period. Legal & General Group Plc owned about 0.74% of Veracyte worth $15,709,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Blair William & Co. IL raised its holdings in shares of Veracyte by 3.5% in the 1st quarter. Blair William & Co. IL now owns 16,092 shares of the biotechnology company’s stock worth $477,000 after acquiring an additional 550 shares during the last quarter. Police & Firemen s Retirement System of New Jersey increased its holdings in Veracyte by 4.6% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 17,991 shares of the biotechnology company’s stock worth $486,000 after purchasing an additional 790 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Veracyte by 4.0% in the second quarter. PNC Financial Services Group Inc. now owns 22,732 shares of the biotechnology company’s stock worth $614,000 after purchasing an additional 865 shares during the last quarter. Huntleigh Advisors Inc. lifted its holdings in shares of Veracyte by 4.2% in the second quarter. Huntleigh Advisors Inc. now owns 21,809 shares of the biotechnology company’s stock valued at $590,000 after purchasing an additional 876 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Veracyte during the second quarter valued at approximately $25,000.

Veracyte Stock Performance

VCYT opened at $47.34 on Friday. Veracyte, Inc. has a fifty-two week low of $22.61 and a fifty-two week high of $50.71. The firm has a 50-day moving average of $38.02 and a 200 day moving average of $31.39. The firm has a market cap of $3.74 billion, a P/E ratio of 143.44 and a beta of 2.16.

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

Analyst Ratings Changes

VCYT has been the subject of a number of analyst reports. UBS Group increased their price target on Veracyte from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Guggenheim increased their target price on shares of Veracyte from $40.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Canaccord Genuity Group raised their price target on shares of Veracyte from $40.00 to $43.00 and gave the company a “hold” rating in a research report on Wednesday, November 5th. Wall Street Zen raised shares of Veracyte from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 16th. Finally, Zacks Research raised shares of Veracyte from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Veracyte presently has an average rating of “Moderate Buy” and a consensus price target of $43.38.

Insider Buying and Selling at Veracyte

In other Veracyte news, Director Karin Eastham sold 9,674 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $40.02, for a total value of $387,153.48. Following the completion of the sale, the director directly owned 13,554 shares of the company’s stock, valued at $542,431.08. This trade represents a 41.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Phillip G. Febbo sold 8,349 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $36.02, for a total value of $300,730.98. Following the transaction, the insider directly owned 92,441 shares in the company, valued at $3,329,724.82. This represents a 8.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 98,549 shares of company stock valued at $4,109,580 in the last quarter. 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.