Veracyte, Inc. (NASDAQ:VCYT) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC raised its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 133.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,309 shares of the biotechnology company’s stock after acquiring an additional 11,606 shares during the period. SG Americas Securities LLC’s holdings in Veracyte were worth $691,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VCYT. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Veracyte during the 2nd quarter worth about $58,000. Point72 Asset Management L.P. purchased a new stake in Veracyte during the second quarter worth approximately $12,279,000. The Manufacturers Life Insurance Company grew its stake in Veracyte by 5.3% during the second quarter. The Manufacturers Life Insurance Company now owns 42,766 shares of the biotechnology company’s stock worth $927,000 after buying an additional 2,135 shares during the period. AXA S.A. acquired a new stake in shares of Veracyte in the second quarter worth $347,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Veracyte in the 2nd quarter valued at $217,000.

Veracyte Stock Up 5.4 %

VCYT stock opened at $34.02 on Monday. The stock has a market cap of $2.60 billion, a PE ratio of -36.19 and a beta of 1.67. The firm’s 50-day simple moving average is $31.63 and its 200 day simple moving average is $25.07. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $35.51.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.10. The company had revenue of $114.43 million for the quarter, compared to analyst estimates of $100.27 million. Veracyte had a negative net margin of 13.52% and a positive return on equity of 1.52%. Veracyte’s revenue was up 26.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.12) earnings per share. Equities analysts forecast that Veracyte, Inc. will post 0.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on VCYT shares. Needham & Company LLC increased their price target on Veracyte from $31.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Guggenheim started coverage on Veracyte in a research note on Thursday. They issued a “buy” rating and a $40.00 target price for the company. Finally, Morgan Stanley upped their price objective on shares of Veracyte from $21.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Veracyte currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.75.

Insiders Place Their Bets

In other news, insider John Leite sold 1,277 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $25.00, for a total transaction of $31,925.00. Following the transaction, the insider now directly owns 82,968 shares of the company’s stock, valued at approximately $2,074,200. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider John Leite sold 1,277 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $25.00, for a total value of $31,925.00. Following the completion of the transaction, the insider now owns 82,968 shares in the company, valued at $2,074,200. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Evan/ Fa Jones sold 5,173 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $35.23, for a total transaction of $182,244.79. Following the sale, the director now owns 34,343 shares in the company, valued at $1,209,903.89. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,918 shares of company stock worth $1,399,541. 1.30% of the stock is owned by company insiders.

About Veracyte

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.