AEGON ASSET MANAGEMENT UK Plc Sells 39,048 Shares of Veracyte, Inc. (NASDAQ:VCYT)

AEGON ASSET MANAGEMENT UK Plc lowered its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 5.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 675,801 shares of the biotechnology company’s stock after selling 39,048 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned 0.87% of Veracyte worth $26,741,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp increased its position in Veracyte by 0.3% during the third quarter. State Street Corp now owns 2,916,515 shares of the biotechnology company’s stock valued at $99,278,000 after acquiring an additional 7,920 shares during the last quarter. Geode Capital Management LLC grew its holdings in Veracyte by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,844,713 shares of the biotechnology company’s stock valued at $62,806,000 after purchasing an additional 17,921 shares during the last quarter. Eventide Asset Management LLC raised its position in Veracyte by 20.2% in the 3rd quarter. Eventide Asset Management LLC now owns 677,883 shares of the biotechnology company’s stock worth $23,075,000 after purchasing an additional 113,883 shares during the period. Point72 Asset Management L.P. purchased a new stake in Veracyte in the 2nd quarter worth about $12,279,000. Finally, Segall Bryant & Hamill LLC boosted its position in shares of Veracyte by 19.0% during the third quarter. Segall Bryant & Hamill LLC now owns 444,299 shares of the biotechnology company’s stock valued at $15,124,000 after buying an additional 71,086 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Scotiabank increased their price target on Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a report on Friday, November 8th. UBS Group lifted their target price on Veracyte from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC upped their price target on shares of Veracyte from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Guggenheim initiated coverage on shares of Veracyte in a report on Thursday, October 10th. They set a “buy” rating and a $40.00 price objective for the company. Finally, Wolfe Research began coverage on shares of Veracyte in a research note on Friday, November 15th. They issued an “outperform” rating and a $50.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.13.

Veracyte Stock Performance

Veracyte stock opened at $43.81 on Friday. The business has a fifty day moving average of $41.81 and a two-hundred day moving average of $34.66. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $46.00.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.16. The firm had revenue of $115.86 million during the quarter, compared to analysts’ expectations of $109.81 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The firm’s quarterly revenue was up 28.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.03) EPS. On average, equities analysts forecast that Veracyte, Inc. will post 0.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Jonathan Wygant sold 5,032 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $42.89, for a total transaction of $215,822.48. Following the sale, the chief accounting officer now owns 42,313 shares in the company, valued at approximately $1,814,804.57. The trade was a 10.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Leite sold 1,050 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $43.25, for a total transaction of $45,412.50. Following the completion of the transaction, the insider now directly owns 73,810 shares of the company’s stock, valued at $3,192,282.50. The trade was a 1.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,038 shares of company stock worth $1,008,297 in the last 90 days. 1.30% of the stock is owned by corporate insiders.

About Veracyte

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.