Harbor Capital Advisors Inc. Has $1.38 Million Holdings in Veracyte, Inc. (NASDAQ:VCYT)

Harbor Capital Advisors Inc. decreased its position in Veracyte, Inc. (NASDAQ:VCYT) by 79.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 34,745 shares of the biotechnology company’s stock after selling 136,089 shares during the period. Harbor Capital Advisors Inc.’s holdings in Veracyte were worth $1,376,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Castleview Partners LLC purchased a new stake in shares of Veracyte in the third quarter valued at $87,000. Values First Advisors Inc. purchased a new stake in Veracyte in the 3rd quarter worth about $91,000. KBC Group NV lifted its stake in Veracyte by 13.7% in the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock worth $91,000 after acquiring an additional 323 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Veracyte during the 2nd quarter valued at about $58,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Veracyte by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,778 shares of the biotechnology company’s stock valued at $94,000 after acquiring an additional 496 shares in the last quarter.

Analyst Ratings Changes

Several research firms recently commented on VCYT. Needham & Company LLC raised their price target on shares of Veracyte from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Guggenheim initiated coverage on shares of Veracyte in a research note on Thursday, October 10th. They set a “buy” rating and a $40.00 target price for the company. Scotiabank upped their price target on shares of Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. The Goldman Sachs Group reissued a “neutral” rating and set a $37.00 price objective (down previously from $38.00) on shares of Veracyte in a research report on Thursday, December 5th. Finally, Leerink Partners boosted their target price on Veracyte from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.13.

Insider Buying and Selling

In related news, CAO Jonathan Wygant sold 5,032 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $42.89, for a total value of $215,822.48. Following the transaction, the chief accounting officer now directly owns 42,313 shares in the company, valued at approximately $1,814,804.57. This trade represents a 10.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Karin Eastham sold 10,000 shares of Veracyte stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total transaction of $403,000.00. Following the completion of the transaction, the director now owns 18,497 shares in the company, valued at $745,429.10. This trade represents a 35.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,038 shares of company stock worth $1,008,297. 1.30% of the stock is currently owned by insiders.

Veracyte Trading Down 5.1 %

VCYT stock opened at $41.54 on Monday. The firm has a market cap of $3.22 billion, a PE ratio of -276.93 and a beta of 1.71. Veracyte, Inc. has a 1 year low of $18.61 and a 1 year high of $46.00. The company has a fifty day simple moving average of $40.78 and a 200 day simple moving average of $33.39.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.16. The company had revenue of $115.86 million during the quarter, compared to analysts’ expectations of $109.81 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The business’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. As a group, analysts forecast that Veracyte, Inc. will post 0.38 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.