New York State Teachers Retirement System Purchases New Position in Veracyte, Inc. $VCYT

New York State Teachers Retirement System acquired a new position in shares of Veracyte, Inc. (NASDAQ:VCYT) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 18,124 shares of the biotechnology company’s stock, valued at approximately $622,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Veracyte in the 2nd quarter worth $25,000. Osaic Holdings Inc. lifted its stake in Veracyte by 289.9% in the second quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 893 shares during the period. Headlands Technologies LLC lifted its stake in Veracyte by 74.8% in the second quarter. Headlands Technologies LLC now owns 2,824 shares of the biotechnology company’s stock worth $76,000 after acquiring an additional 1,208 shares during the period. Pacer Advisors Inc. bought a new position in Veracyte during the 3rd quarter worth about $107,000. Finally, FORA Capital LLC purchased a new position in Veracyte during the 2nd quarter valued at about $206,000.

Analyst Ratings Changes

VCYT has been the subject of several research reports. Guggenheim upped their price target on shares of Veracyte from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Veracyte in a research note on Monday, December 29th. Morgan Stanley upped their target price on Veracyte from $40.00 to $48.00 and gave the stock an “underweight” rating in a report on Monday, December 1st. UBS Group reiterated a “buy” rating on shares of Veracyte in a report on Monday, January 12th. Finally, Needham & Company LLC boosted their price target on Veracyte from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Veracyte has an average rating of “Hold” and an average target price of $46.14.

Veracyte Trading Up 0.3%

Shares of VCYT stock opened at $41.69 on Wednesday. Veracyte, Inc. has a 12-month low of $22.61 and a 12-month high of $50.71. The business’s fifty day simple moving average is $43.33 and its 200-day simple moving average is $35.59. The company has a market cap of $3.30 billion, a PE ratio of 109.71 and a beta of 1.88.

Veracyte (NASDAQ:VCYT) last announced its earnings results on Tuesday, November 4th. The biotechnology company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.19. Veracyte had a return on equity of 7.23% and a net margin of 6.12%.The firm had revenue of $131.87 million for the quarter, compared to the consensus estimate of $124.62 million. During the same period in the previous year, the business earned $0.33 EPS. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, equities analysts forecast that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Rebecca Chambers sold 13,278 shares of Veracyte stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $46.84, for a total value of $621,941.52. Following the completion of the sale, the chief financial officer directly owned 109,496 shares in the company, valued at $5,128,792.64. This trade represents a 10.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Karin Eastham sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $45.45, for a total transaction of $909,000.00. Following the sale, the director directly owned 13,554 shares in the company, valued at approximately $616,029.30. This represents a 59.61% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 134,635 shares of company stock valued at $5,981,961. 1.40% of the stock is currently owned by corporate insiders.

Veracyte Company Profile

Veracyte, Inc is a genomic diagnostics company focused on improving diagnostic accuracy and patient care through advanced molecular testing. Founded in 2008 and headquartered in South San Francisco, California, the company develops and commercializes minimally invasive genomic tests that aid in the diagnosis of thyroid, lung and other diseases. Veracyte’s proprietary platform analyzes gene expression patterns in clinical samples to help physicians make more informed treatment decisions, reducing unnecessary surgeries and improving patient outcomes.

The company’s flagship product, the Afirma Genomic Sequencing Classifier, is designed to assess thyroid nodules with indeterminate cytology, helping clinicians distinguish benign from suspicious nodules.