Veracyte, Inc. (NASDAQ:VCYT) Shares Acquired by Plato Investment Management Ltd

Plato Investment Management Ltd grew its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 432.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,816 shares of the biotechnology company’s stock after purchasing an additional 3,912 shares during the period. Plato Investment Management Ltd’s holdings in Veracyte were worth $191,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Jones Financial Companies Lllp lifted its position in shares of Veracyte by 49.7% during the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 237 shares during the period. US Bancorp DE increased its stake in Veracyte by 57.4% in the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock valued at $70,000 after purchasing an additional 647 shares in the last quarter. Principal Securities Inc. raised its holdings in Veracyte by 34.1% during the fourth quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock worth $76,000 after purchasing an additional 485 shares during the last quarter. KBC Group NV boosted its position in 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 purchasing an additional 323 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in Veracyte in the fourth quarter valued at $91,000.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on VCYT shares. Needham & Company LLC reaffirmed a “buy” rating and set a $51.00 price target on shares of Veracyte in a research note on Tuesday, February 25th. Wolfe Research initiated coverage on shares of Veracyte in a research report on Friday, November 15th. They set an “outperform” rating and a $50.00 target price for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $37.00 price target (down previously from $38.00) on shares of Veracyte in a report on Thursday, December 5th. Morgan Stanley raised their price objective on shares of Veracyte from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Monday, November 18th. Finally, UBS Group upped their target price on Veracyte from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Veracyte currently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Insiders Place Their Bets

In related news, Director Karin Eastham sold 10,000 shares of the business’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 sale, the director now directly owns 18,497 shares in the company, valued at approximately $745,429.10. The trade was a 35.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by corporate insiders.

Veracyte Stock Performance

Shares of VCYT opened at $34.11 on Wednesday. Veracyte, Inc. has a 1 year low of $18.61 and a 1 year high of $47.32. The company’s 50 day simple moving average is $41.11 and its 200 day simple moving average is $37.72. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of -227.40 and a beta of 1.80.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The company had revenue of $118.63 million for the quarter, compared to analyst estimates of $110.73 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. During the same quarter in the prior year, the company posted ($0.39) EPS. Equities analysts expect that Veracyte, Inc. will post 0.68 EPS for the current fiscal 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.