Exchange Traded Concepts LLC Boosts Holdings in Veracyte, Inc. $VCYT

Exchange Traded Concepts LLC boosted its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 15.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 132,434 shares of the biotechnology company’s stock after purchasing an additional 17,393 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Veracyte were worth $4,546,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of VCYT. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Veracyte during the second quarter worth about $25,000. Osaic Holdings Inc. lifted its holdings in Veracyte by 289.9% in the second quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 893 shares during the period. Headlands Technologies LLC boosted its position in Veracyte by 74.8% in the 2nd quarter. Headlands Technologies LLC now owns 2,824 shares of the biotechnology company’s stock worth $76,000 after purchasing an additional 1,208 shares in the last quarter. FORA Capital LLC acquired a new stake in shares of Veracyte during the 2nd quarter worth approximately $206,000. Finally, AlphaQuest LLC increased its holdings in shares of Veracyte by 1,279.9% during the 2nd quarter. AlphaQuest LLC now owns 8,031 shares of the biotechnology company’s stock valued at $217,000 after purchasing an additional 7,449 shares in the last quarter.

Veracyte Price Performance

Shares of Veracyte stock opened at $42.79 on Thursday. The stock has a market capitalization of $3.38 billion, a P/E ratio of 112.61 and a beta of 1.83. The business has a 50 day simple moving average of $41.43 and a two-hundred day simple moving average of $33.45. Veracyte, Inc. has a 12 month low of $22.61 and a 12 month high of $50.71.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $124.62 million. During the same period in the previous year, the company posted $0.33 earnings per share. The business’s revenue was up 13.8% on a year-over-year basis. As a group, research analysts anticipate that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Veracyte from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 13th. Needham & Company LLC upped their price objective on shares of Veracyte from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Guggenheim raised their target price on Veracyte from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. UBS Group lifted their price target on Veracyte from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, Canaccord Genuity Group increased their price target on Veracyte from $40.00 to $43.00 and gave the stock a “hold” rating in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $45.43.

Insider Buying and Selling at Veracyte

In other news, CFO Rebecca Chambers sold 13,278 shares of the stock in a transaction dated 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 represents a 10.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Annie Mcguire sold 10,739 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $43.13, for a total transaction of $463,173.07. Following the completion of the transaction, the senior vice president directly owned 67,760 shares in the company, valued at approximately $2,922,488.80. This represents a 13.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 142,984 shares of company stock valued at $6,282,692. 1.40% of the stock is owned by company insiders.

Veracyte 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.