Wrapmanager Inc. Buys 2,617 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Wrapmanager Inc. boosted its position in Veracyte, Inc. (NASDAQ:VCYT) by 28.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,726 shares of the biotechnology company’s stock after purchasing an additional 2,617 shares during the quarter. Wrapmanager Inc.’s holdings in Veracyte were worth $323,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of VCYT. ARK Investment Management LLC raised its stake in shares of Veracyte by 0.8% during the 4th quarter. ARK Investment Management LLC now owns 7,655,603 shares of the biotechnology company’s stock worth $210,606,000 after acquiring an additional 62,011 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Veracyte by 0.3% during the third quarter. Vanguard Group Inc. now owns 7,065,512 shares of the biotechnology company’s stock worth $157,773,000 after purchasing an additional 21,385 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Veracyte by 38.0% during the 3rd quarter. Northern Trust Corp now owns 982,328 shares of the biotechnology company’s stock valued at $21,935,000 after purchasing an additional 270,531 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of Veracyte by 8.5% in the 3rd quarter. New York State Common Retirement Fund now owns 907,281 shares of the biotechnology company’s stock worth $20,260,000 after purchasing an additional 71,418 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Veracyte by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 698,418 shares of the biotechnology company’s stock worth $19,213,000 after buying an additional 14,066 shares during the last quarter.

Veracyte Price Performance

VCYT traded up $0.51 during trading on Thursday, reaching $20.63. 746,970 shares of the company’s stock were exchanged, compared to its average volume of 640,848. The company’s fifty day simple moving average is $20.95 and its 200-day simple moving average is $23.80. The stock has a market capitalization of $1.58 billion, a P/E ratio of -21.95 and a beta of 1.65. Veracyte, Inc. has a 1 year low of $18.61 and a 1 year high of $30.52.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.17. The company had revenue of $96.84 million for the quarter, compared to analyst estimates of $93.35 million. Veracyte had a negative net margin of 20.61% and a negative return on equity of 2.02%. The firm’s revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.11) earnings per share. Equities analysts forecast that Veracyte, Inc. will post -0.29 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on VCYT. The Goldman Sachs Group dropped their price target on Veracyte from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, April 15th. Needham & Company LLC cut their price target on shares of Veracyte from $33.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley lowered their price objective on shares of Veracyte from $22.00 to $21.00 and set an “underweight” rating for the company in a research note on Monday, February 26th. Finally, William Blair reissued an “outperform” rating on shares of Veracyte in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Veracyte presently has an average rating of “Moderate Buy” and a consensus target price of $27.50.

Insider Activity at Veracyte

In other Veracyte 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 sale, the director now directly owns 33,125 shares of the company’s stock, valued at $717,156.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is owned by company insiders.

Veracyte 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.