Vestmark Advisory Solutions Inc. Has $4.79 Million Stake in Veracyte, Inc. $VCYT

Vestmark Advisory Solutions Inc. increased its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 84.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 177,212 shares of the biotechnology company’s stock after purchasing an additional 81,007 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Veracyte were worth $4,790,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Veracyte in the second quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new stake in shares of Veracyte in the 1st quarter valued at $48,000. Covestor Ltd increased its stake in shares of Veracyte by 23,936.4% in the 1st quarter. Covestor Ltd now owns 2,644 shares of the biotechnology company’s stock valued at $78,000 after purchasing an additional 2,633 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Veracyte during the 1st quarter worth $173,000. Finally, Xponance Inc. lifted its position in shares of Veracyte by 5.7% during the 1st quarter. Xponance Inc. now owns 6,860 shares of the biotechnology company’s stock worth $203,000 after buying an additional 370 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Zacks Research upgraded Veracyte from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Wall Street Zen raised shares of Veracyte from a “buy” rating to a “strong-buy” rating in a report on Saturday. Guggenheim increased their price objective on shares of Veracyte from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday. Weiss Ratings restated a “sell (d+)” rating on shares of Veracyte in a research report on Wednesday, October 8th. Finally, Canaccord Genuity Group upped their price target on shares of Veracyte from $40.00 to $43.00 and gave the stock a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.78.

Insiders Place Their Bets

In other Veracyte news, CFO Rebecca Chambers sold 7,000 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $41.00, for a total transaction of $287,000.00. Following the sale, the chief financial officer owned 126,158 shares of the company’s stock, valued at approximately $5,172,478. This represents a 5.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Karin Eastham sold 9,674 shares of Veracyte stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $40.02, for a total value of $387,153.48. Following the completion of the transaction, the director directly owned 13,554 shares of the company’s stock, valued at approximately $542,431.08. This trade represents a 41.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 84,635 shares of company stock valued at $3,490,004 over the last quarter. Company insiders own 1.40% of the company’s stock.

Veracyte Price Performance

Shares of VCYT opened at $41.70 on Friday. The business has a 50-day moving average of $34.59 and a 200-day moving average of $30.10. Veracyte, Inc. has a 1 year low of $22.61 and a 1 year high of $47.32. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 126.37 and a beta of 2.16.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.19. The firm had revenue of $131.87 million during the quarter, compared to analyst estimates of $124.62 million. Veracyte had a net margin of 5.50% and a return on equity of 6.07%. The company’s revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 EPS. Veracyte has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Veracyte, Inc. will post 0.68 EPS for the current year.

Veracyte 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.