Wrapmanager Inc. Acquires 3,941 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Wrapmanager Inc. boosted its position in shares of Veracyte, Inc. (NASDAQ:VCYTGet Rating) by 44.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,715 shares of the biotechnology company’s stock after buying an additional 3,941 shares during the quarter. Wrapmanager Inc.’s holdings in Veracyte were worth $351,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its stake in shares of Veracyte by 618.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,444 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 1,243 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Veracyte by 62.4% in the fourth quarter. Lazard Asset Management LLC now owns 2,331 shares of the biotechnology company’s stock valued at $96,000 after acquiring an additional 896 shares in the last quarter. Vienna Asset Management LLC bought a new stake in shares of Veracyte in the fourth quarter valued at about $147,000. Prospera Financial Services Inc bought a new stake in shares of Veracyte in the first quarter valued at about $127,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Veracyte in the fourth quarter valued at about $211,000.

Wall Street Analysts Forecast Growth

VCYT has been the subject of several recent research reports. Needham & Company LLC lifted their price objective on Veracyte from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Raymond James lifted their price objective on Veracyte from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, August 4th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat, Veracyte presently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Insider Activity

In other news, Director Jens Holstein sold 8,720 shares of the company’s stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of $16.27, for a total transaction of $141,874.40. Following the transaction, the director now owns 2,000 shares in the company, valued at $32,540. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Jens Holstein sold 8,720 shares of the company’s stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of $16.27, for a total transaction of $141,874.40. Following the transaction, the director now owns 2,000 shares in the company, valued at $32,540. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc Stapley bought 60,000 shares of the company’s stock in a transaction that occurred on Friday, June 10th. The stock was purchased at an average price of $16.33 per share, for a total transaction of $979,800.00. Following the transaction, the chief executive officer now owns 159,761 shares of the company’s stock, valued at $2,608,897.13. The disclosure for this purchase can be found here. Corporate insiders own 2.90% of the company’s stock.

Veracyte Stock Performance

Shares of Veracyte stock opened at $24.13 on Wednesday. The company has a market capitalization of $1.73 billion, a PE ratio of -35.48 and a beta of 1.11. The company has a 50-day simple moving average of $23.06 and a two-hundred day simple moving average of $23.69. Veracyte, Inc. has a one year low of $14.85 and a one year high of $54.13.

Veracyte (NASDAQ:VCYTGet Rating) last announced its earnings results on Tuesday, August 2nd. The biotechnology company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.08. The business had revenue of $72.86 million during the quarter, compared to the consensus estimate of $67.37 million. Veracyte had a negative net margin of 18.13% and a negative return on equity of 4.05%. On average, equities analysts predict that Veracyte, Inc. will post -0.8 earnings per share for the current fiscal year.

About Veracyte

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Veracyte, Inc operates as a diagnostics company worldwide. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas, which are used to determine patients with indeterminate results are benign to avoid unnecessary surgery; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Genomic Sequencing Classifier and Percepta Nasal Swab Test for lung cancer diagnosis; Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis; and Immunoscore Colon Cancer test for colon cancer diagnosis.

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Institutional Ownership by Quarter for Veracyte (NASDAQ:VCYT)

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