Barclays PLC boosted its position in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 138.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 146,402 shares of the biotechnology company's stock after purchasing an additional 85,033 shares during the quarter. Barclays PLC owned approximately 0.19% of Veracyte worth $4,983,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of VCYT. KBC Group NV raised its stake in shares of Veracyte by 13.7% during the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company's stock worth $91,000 after acquiring an additional 323 shares in the last quarter. Inspire Investing LLC increased its position in shares of Veracyte by 2.1% during the second quarter. Inspire Investing LLC now owns 16,462 shares of the biotechnology company's stock worth $357,000 after purchasing an additional 340 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Veracyte by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,778 shares of the biotechnology company's stock valued at $94,000 after purchasing an additional 496 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Veracyte by 3.7% in the 2nd quarter. Arizona State Retirement System now owns 20,806 shares of the biotechnology company's stock worth $451,000 after purchasing an additional 733 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Veracyte by 5.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,823 shares of the biotechnology company's stock worth $473,000 after buying an additional 1,173 shares during the last quarter.
Shares of NASDAQ VCYT opened at $40.89 on Friday. The company has a 50 day simple moving average of $38.50 and a two-hundred day simple moving average of $31.18. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of -272.60 and a beta of 1.69. Veracyte, Inc. has a 12 month low of $18.61 and a 12 month high of $46.00.
Veracyte (NASDAQ:VCYT - Get Free Report) last posted its earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.16. The company had revenue of $115.86 million during the quarter, compared to the consensus estimate of $109.81 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The firm's quarterly revenue was up 28.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.03) earnings per share. Analysts forecast that Veracyte, Inc. will post 0.38 EPS for the current year.
In other Veracyte news, CFO Rebecca Chambers sold 7,000 shares of the company's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $43.23, for a total value of $302,610.00. Following the completion of the transaction, the chief financial officer now owns 114,037 shares in the company, valued at approximately $4,929,819.51. This represents a 5.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jonathan Wygant sold 5,032 shares of the firm's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $42.89, for a total value of $215,822.48. Following the sale, the chief accounting officer now owns 42,313 shares in the company, valued at $1,814,804.57. This trade represents a 10.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,038 shares of company stock valued at $605,297. 1.30% of the stock is owned by company insiders.
VCYT has been the subject of a number of research analyst reports. Wolfe Research started coverage on Veracyte in a research note on Friday, November 15th. They issued an "outperform" rating and a $50.00 price target for the company. Scotiabank increased their price objective on shares of Veracyte from $40.00 to $44.00 and gave the company a "sector outperform" rating in a research report on Friday, November 8th. Guggenheim began coverage on shares of Veracyte in a research report on Thursday, October 10th. They set a "buy" rating and a $40.00 target price on the stock. Needham & Company LLC upped their price target on shares of Veracyte from $37.00 to $44.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, Leerink Partners lifted their price objective on shares of Veracyte from $35.00 to $40.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.13.
Read Our Latest Report on Veracyte
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.
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