Veracyte, Inc. (NASDAQ:VCYT) Shares Bought by Wrapmanager Inc.

Wrapmanager Inc. grew its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 28.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 11,726 shares of the biotechnology company’s stock after purchasing an additional 2,617 shares during the period. Wrapmanager Inc.’s holdings in Veracyte were worth $323,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Diversified Trust Co increased its holdings in Veracyte by 4.0% during the 4th quarter. Diversified Trust Co now owns 14,810 shares of the biotechnology company’s stock valued at $407,000 after acquiring an additional 575 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Veracyte by 3.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,141 shares of the biotechnology company’s stock worth $554,000 after purchasing an additional 711 shares in the last quarter. Strs Ohio raised its position in shares of Veracyte by 2.4% during the 3rd quarter. Strs Ohio now owns 34,700 shares of the biotechnology company’s stock worth $774,000 after purchasing an additional 800 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Veracyte by 96.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,862 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 913 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its holdings in Veracyte by 3.4% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 36,463 shares of the biotechnology company’s stock valued at $814,000 after buying an additional 1,204 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts recently commented on VCYT shares. Morgan Stanley decreased their price objective on Veracyte from $22.00 to $21.00 and set an “underweight” rating on the stock in a research note on Monday, February 26th. The Goldman Sachs Group reduced their price objective on shares of Veracyte from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, April 15th. Needham & Company LLC lowered their target price on shares of Veracyte from $33.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, William Blair reissued an “outperform” rating on shares of Veracyte in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $27.50.

Insider Transactions at Veracyte

In other Veracyte news, Director Karin Eastham sold 10,000 shares of Veracyte stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $21.65, for a total transaction of $216,500.00. Following the transaction, the director now directly owns 33,125 shares of the company’s stock, valued at $717,156.25. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.60% of the company’s stock.

Veracyte Stock Performance

Veracyte stock traded up $0.51 during trading on Thursday, reaching $20.63. The company had a trading volume of 746,970 shares, compared to its average volume of 640,848. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $30.52. The stock’s 50 day moving average price is $20.95 and its two-hundred day moving average price is $23.80. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -21.95 and a beta of 1.65.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.17. Veracyte had a negative return on equity of 2.02% and a negative net margin of 20.61%. The business had revenue of $96.84 million during the quarter, compared to the consensus estimate of $93.35 million. During the same period in the prior year, the firm posted ($0.11) EPS. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. As a group, research analysts expect that Veracyte, Inc. will post -0.29 earnings per share for the current year.

Veracyte Profile

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.