Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lessened its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 23.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 69,429 shares of the biotechnology company’s stock after selling 21,414 shares during the period. Exchange Traded Concepts LLC owned 0.09% of Veracyte worth $2,749,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Castleview Partners LLC acquired a new stake in shares of Veracyte in the third quarter worth approximately $87,000. Values First Advisors Inc. acquired a new stake in Veracyte during the 3rd quarter worth $91,000. KBC Group NV grew its holdings in shares of Veracyte by 13.7% during the third quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock worth $91,000 after buying an additional 323 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Veracyte in the second quarter valued at about $58,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Veracyte by 21.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,778 shares of the biotechnology company’s stock worth $94,000 after buying an additional 496 shares in the last quarter.

Insider Activity

In other Veracyte news, Director Karin Eastham sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total value of $403,000.00. Following the completion of the transaction, the director now owns 18,497 shares of the company’s stock, valued at $745,429.10. This trade represents a 35.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Jonathan Wygant sold 956 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $43.36, for a total value of $41,452.16. Following the sale, the chief accounting officer now directly owns 40,270 shares in the company, valued at $1,746,107.20. This represents a 2.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,038 shares of company stock valued at $1,008,297. 1.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on VCYT. Guggenheim started coverage on shares of Veracyte in a report on Thursday, October 10th. They issued a “buy” rating and a $40.00 price objective for the company. UBS Group increased their price target on Veracyte from $43.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Leerink Partners boosted their price objective on Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Needham & Company LLC upped their target price on Veracyte from $37.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Morgan Stanley boosted their price target on shares of Veracyte from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.13.

Veracyte Price Performance

NASDAQ VCYT opened at $43.81 on Friday. Veracyte, Inc. has a 12 month low of $18.61 and a 12 month high of $46.00. The stock has a market capitalization of $3.40 billion, a P/E ratio of -292.07 and a beta of 1.71. The firm’s 50-day moving average is $41.81 and its two-hundred day moving average is $34.76.

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

Veracyte Company Profile

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.