Wrapmanager Inc. Has $329,000 Stake in Veracyte, Inc. (NASDAQ:VCYT)

Wrapmanager Inc. reduced its position in Veracyte, Inc. (NASDAQ:VCYT) by 46.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,658 shares of the biotechnology company’s stock after selling 8,252 shares during the quarter. Wrapmanager Inc.’s holdings in Veracyte were worth $329,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in Veracyte by 2,331.6% in the second quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 1,329 shares during the last quarter. CWM LLC boosted its holdings in shares of Veracyte by 168.3% in the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 951 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Veracyte in the 2nd quarter valued at $58,000. Signature Resources Capital Management LLC bought a new position in shares of Veracyte in the 2nd quarter valued at $83,000. Finally, nVerses Capital LLC acquired a new position in shares of Veracyte during the 2nd quarter worth $85,000.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Scotiabank raised their price objective on Veracyte from $40.00 to $44.00 and gave the company a “sector outperform” rating in a research note on Friday, November 8th. The Goldman Sachs Group raised their price target on shares of Veracyte from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Guggenheim began coverage on shares of Veracyte in a research report on Thursday, October 10th. They set a “buy” rating and a $40.00 price objective for the company. Morgan Stanley raised their target price on shares of Veracyte from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Monday. Finally, UBS Group upped their price target on shares of Veracyte from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.25.

Veracyte Stock Performance

VCYT stock opened at $39.15 on Wednesday. The company has a market capitalization of $3.03 billion, a P/E ratio of -253.40 and a beta of 1.67. The company has a fifty day moving average price of $34.22 and a 200-day moving average price of $27.83. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $41.43.

Veracyte (NASDAQ:VCYT) last announced its earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.16. The business had revenue of $115.86 million during the quarter, compared to analyst estimates of $109.81 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. Veracyte’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same period last year, the company earned ($0.03) EPS. As a group, sell-side analysts forecast that Veracyte, Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Transactions at Veracyte

In other Veracyte news, insider John Leite sold 5,479 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total transaction of $163,164.62. Following the sale, the insider now owns 76,174 shares of the company’s stock, valued at approximately $2,268,461.72. This represents a 6.71 % 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 Evan/ Fa Jones sold 5,173 shares of Veracyte stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $35.23, for a total value of $182,244.79. Following the completion of the transaction, the director now directly owns 34,343 shares of the company’s stock, valued at approximately $1,209,903.89. This trade represents a 13.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Veracyte Profile

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.