Veracyte, Inc. $VCYT Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC lowered its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 1.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 636,223 shares of the biotechnology company’s stock after selling 11,208 shares during the period. Granite Investment Partners LLC’s holdings in Veracyte were worth $17,197,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Veracyte by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 8,263,643 shares of the biotechnology company’s stock valued at $245,017,000 after purchasing an additional 52,031 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in Veracyte by 20.7% during the second quarter. Artisan Partners Limited Partnership now owns 6,321,775 shares of the biotechnology company’s stock valued at $170,878,000 after purchasing an additional 1,082,064 shares during the last quarter. Driehaus Capital Management LLC boosted its holdings in Veracyte by 14.2% during the first quarter. Driehaus Capital Management LLC now owns 1,351,370 shares of the biotechnology company’s stock worth $40,068,000 after buying an additional 167,604 shares in the last quarter. Nuveen LLC acquired a new position in Veracyte in the first quarter worth approximately $33,003,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Veracyte by 70.1% in the second quarter. Assenagon Asset Management S.A. now owns 830,099 shares of the biotechnology company’s stock valued at $22,438,000 after buying an additional 342,038 shares in the last quarter.

Veracyte Trading Down 2.0%

NASDAQ:VCYT opened at $46.39 on Tuesday. The business’s fifty day moving average price is $38.27 and its 200 day moving average price is $31.53. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 140.58 and a beta of 2.16. Veracyte, Inc. has a 1-year low of $22.61 and a 1-year high of $50.71.

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 the consensus estimate of $0.32 by $0.19. The company had revenue of $131.87 million for the quarter, compared to analysts’ expectations of $124.62 million. Veracyte had a return on equity of 6.07% and a net margin of 5.50%.The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 EPS. Veracyte has set its FY 2025 guidance at EPS. Equities analysts forecast that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Insider Transactions at Veracyte

In other news, CEO Marc Stapley sold 7,667 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $30.41, for a total transaction of $233,153.47. Following the transaction, the chief executive officer directly owned 334,185 shares in the company, valued at $10,162,565.85. The trade was a 2.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Phillip G. Febbo sold 8,349 shares of the company’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $36.02, for a total transaction of $300,730.98. Following the completion of the transaction, the insider directly owned 92,441 shares in the company, valued at $3,329,724.82. This trade represents a 8.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 98,549 shares of company stock worth $4,109,580. 1.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

VCYT has been the topic of a number of recent research reports. UBS Group lifted their target price on Veracyte from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Guggenheim increased their price target on Veracyte from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Zacks Research raised Veracyte from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Needham & Company LLC upped their price objective on shares of Veracyte from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, Wall Street Zen upgraded shares of Veracyte from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 16th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Veracyte currently has an average rating of “Moderate Buy” and a consensus price target of $44.38.

Veracyte Company 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.