130,037 Shares in Veracyte, Inc. $VCYT Bought by Corient Private Wealth LLC

Corient Private Wealth LLC purchased a new stake in shares of Veracyte, Inc. (NASDAQ:VCYT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 130,037 shares of the biotechnology company’s stock, valued at approximately $5,475,000. Corient Private Wealth LLC owned about 0.16% of Veracyte as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in VCYT. Vanguard Group Inc. boosted its holdings in shares of Veracyte by 5.0% during the third quarter. Vanguard Group Inc. now owns 8,504,088 shares of the biotechnology company’s stock worth $291,945,000 after purchasing an additional 403,737 shares during the period. Artisan Partners Limited Partnership grew its stake in shares of Veracyte by 16.6% in the third quarter. Artisan Partners Limited Partnership now owns 7,370,467 shares of the biotechnology company’s stock worth $253,028,000 after purchasing an additional 1,048,692 shares during the last quarter. ARK Investment Management LLC increased its holdings in Veracyte by 17.5% during the 3rd quarter. ARK Investment Management LLC now owns 4,465,775 shares of the biotechnology company’s stock valued at $153,310,000 after purchasing an additional 665,686 shares during the period. State Street Corp increased its holdings in Veracyte by 3.8% during the 4th quarter. State Street Corp now owns 4,360,913 shares of the biotechnology company’s stock valued at $183,594,000 after purchasing an additional 161,239 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Veracyte by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,118,166 shares of the biotechnology company’s stock valued at $107,042,000 after purchasing an additional 95,664 shares during the last quarter.

Insiders Place Their Bets

In other news, SVP Annie Mcguire sold 10,204 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $39.02, for a total value of $398,160.08. Following the sale, the senior vice president directly owned 143,708 shares of the company’s stock, valued at $5,607,486.16. This represents a 6.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert S. Epstein sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $44.01, for a total transaction of $440,100.00. Following the completion of the sale, the director directly owned 52,446 shares in the company, valued at $2,308,148.46. This represents a 16.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 206,696 shares of company stock valued at $10,079,058 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Veracyte Stock Performance

VCYT stock opened at $58.55 on Friday. Veracyte, Inc. has a fifty-two week low of $22.61 and a fifty-two week high of $60.28. The business’s 50 day moving average price is $43.23 and its two-hundred day moving average price is $39.68. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 53.72 and a beta of 1.98.

Veracyte (NASDAQ:VCYT) last announced its earnings results on Tuesday, May 5th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.18. Veracyte had a return on equity of 9.07% and a net margin of 16.25%.The firm had revenue of $139.07 million during the quarter, compared to analyst estimates of $130.36 million. During the same quarter in the prior year, the company earned $0.31 EPS. The business’s revenue was up 21.5% compared to the same quarter last year. Sell-side analysts forecast that Veracyte, Inc. will post 1.29 earnings per share for the current year.

Wall Street Analyst Weigh In

VCYT has been the subject of several research analyst reports. Zacks Research cut Veracyte from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. Jefferies Financial Group began coverage on Veracyte in a research note on Monday, April 13th. They set a “buy” rating and a $45.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Veracyte in a report on Friday, March 27th. Needham & Company LLC raised their price target on Veracyte from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Finally, Canaccord Genuity Group lifted their price target on shares of Veracyte from $40.00 to $42.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.57.

About Veracyte

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.