Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Quantum Private Wealth LLC

Quantum Private Wealth LLC reduced its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 5.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 10,461 shares of the biotechnology company’s stock after selling 655 shares during the quarter. Quantum Private Wealth LLC’s holdings in Veracyte were worth $288,000 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 VCYT. Russell Investments Group Ltd. acquired a new stake in Veracyte during the first quarter valued at approximately $27,000. Point72 Hong Kong Ltd bought a new stake in shares of Veracyte during the 1st quarter worth $33,000. International Assets Investment Management LLC acquired a new position in shares of Veracyte in the 3rd quarter worth $38,000. China Universal Asset Management Co. Ltd. raised its position in shares of Veracyte by 96.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,862 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 913 shares during the period. Finally, CWM LLC lifted its holdings in shares of Veracyte by 533.0% during the third quarter. CWM LLC now owns 2,146 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 1,807 shares during the last quarter.

Veracyte Stock Performance

Shares of Veracyte stock traded up $0.36 during trading on Wednesday, hitting $19.28. 191,347 shares of the stock traded hands, compared to its average volume of 620,287. The company has a fifty day moving average price of $22.50 and a two-hundred day moving average price of $24.01. Veracyte, Inc. has a twelve month low of $18.73 and a twelve month high of $30.52. The stock has a market cap of $1.45 billion, a P/E ratio of -18.59 and a beta of 1.62.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Thursday, February 22nd. The biotechnology company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. The company had revenue of $98.20 million during the quarter, compared to the consensus estimate of $95.49 million. Veracyte had a negative net margin of 20.61% and a negative return on equity of 2.02%. On average, equities research analysts expect that Veracyte, Inc. will post -0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on VCYT. Morgan Stanley decreased their target price on shares of Veracyte from $22.00 to $21.00 and set an “underweight” rating for the company in a report on Monday, February 26th. William Blair reaffirmed an “outperform” rating on shares of Veracyte in a research note on Friday, February 23rd. The Goldman Sachs Group lowered their price objective on shares of Veracyte from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Needham & Company LLC increased their target price on Veracyte from $30.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Veracyte presently has an average rating of “Moderate Buy” and an average price target of $29.00.

Insider Buying and Selling at Veracyte

In related news, Director Karin Eastham sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $21.65, for a total value of $216,500.00. Following the transaction, the director now directly owns 33,125 shares of the company’s stock, valued at approximately $717,156.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Veracyte Company 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.