Net Worth Advisory Group Invests $227,000 in Veracyte, Inc. (NASDAQ:VCYT)

Net Worth Advisory Group bought a new stake in shares of Veracyte, Inc. (NASDAQ:VCYT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,655 shares of the biotechnology company’s stock, valued at approximately $227,000.

A number of other large investors also recently added to or reduced their stakes in the business. Inspire Investing LLC grew its stake in shares of Veracyte by 2.1% during the second quarter. Inspire Investing LLC now owns 16,462 shares of the biotechnology company’s stock valued at $357,000 after buying an additional 340 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Veracyte by 6.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 8,198 shares of the biotechnology company’s stock valued at $182,000 after acquiring an additional 530 shares during the period. Arizona State Retirement System grew its position in Veracyte by 3.7% during the 2nd quarter. Arizona State Retirement System now owns 20,806 shares of the biotechnology company’s stock worth $451,000 after acquiring an additional 733 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Veracyte by 9.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,325 shares of the biotechnology company’s stock worth $207,000 after purchasing an additional 778 shares during the period. Finally, CWM LLC lifted its position in Veracyte by 168.3% in the second quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 951 shares during the last quarter.

Insider Activity

In related news, Director Jens Holstein sold 5,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $29.00, for a total value of $145,000.00. Following the completion of the transaction, the director now directly owns 27,878 shares in the company, valued at $808,462. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jens Holstein sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $29.00, for a total value of $145,000.00. Following the sale, the director now owns 27,878 shares in the company, valued at $808,462. This represents a 0.00 % decrease in their position. The transaction 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 firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $35.23, for a total value of $182,244.79. Following 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 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,141 shares of company stock worth $1,180,116. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

VCYT has been the topic of several recent analyst reports. UBS Group initiated coverage on shares of Veracyte in a report on Wednesday, October 16th. They issued a “buy” rating and a $43.00 target price on the stock. Leerink Partners boosted their price objective on shares of Veracyte from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Morgan Stanley increased their target price on shares of Veracyte from $21.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, August 12th. Guggenheim initiated coverage on Veracyte in a research note on Thursday, October 10th. They issued a “buy” rating and a $40.00 target price on the stock. Finally, Needham & Company LLC upped their price target on Veracyte from $31.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.67.

Veracyte Price Performance

VCYT stock opened at $33.12 on Tuesday. Veracyte, Inc. has a 1 year low of $18.61 and a 1 year high of $35.51. The firm has a 50-day moving average of $32.54 and a 200 day moving average of $25.64. The company has a market cap of $2.53 billion, a P/E ratio of -35.23 and a beta of 1.67.

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

Veracyte Company 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.