Veracyte, Inc. (NASDAQ:VCYT) Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC increased its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 6,108.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,567 shares of the biotechnology company’s stock after purchasing an additional 8,429 shares during the quarter. Parallel Advisors LLC’s holdings in Veracyte were worth $339,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its stake in shares of Veracyte by 49.7% during the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 237 shares during the last quarter. Arizona State Retirement System boosted its position in Veracyte by 1.2% during the fourth quarter. Arizona State Retirement System now owns 22,276 shares of the biotechnology company’s stock worth $882,000 after acquiring an additional 264 shares during the last quarter. HighTower Advisors LLC grew its stake in Veracyte by 1.9% in the 4th quarter. HighTower Advisors LLC now owns 16,630 shares of the biotechnology company’s stock worth $659,000 after acquiring an additional 305 shares during the period. KBC Group NV raised its holdings in Veracyte by 13.7% in the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock valued at $91,000 after acquiring an additional 323 shares during the last quarter. Finally, Principal Securities Inc. lifted its stake in shares of Veracyte by 34.1% during the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock worth $76,000 after purchasing an additional 485 shares during the period.

Veracyte Trading Down 0.1 %

NASDAQ:VCYT opened at $31.82 on Friday. The firm’s fifty day simple moving average is $38.53 and its 200 day simple moving average is $37.61. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $47.32. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of -212.13 and a beta of 1.80.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.07. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The company had revenue of $118.63 million during the quarter, compared to the consensus estimate of $110.73 million. During the same quarter in the prior year, the business earned ($0.39) earnings per share. On average, analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on VCYT shares. UBS Group upped their target price on Veracyte from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. StockNews.com lowered shares of Veracyte from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Needham & Company LLC restated a “buy” rating and issued a $51.00 target price on shares of Veracyte in a report on Tuesday, February 25th. Guggenheim reaffirmed a “buy” rating and set a $45.00 price target on shares of Veracyte in a research note on Tuesday, February 25th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $37.00 price objective (down from $38.00) on shares of Veracyte in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.22.

Insider Buying and Selling at Veracyte

In other news, Director Karin Eastham sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total value of $403,000.00. Following the completion of the transaction, the director now directly owns 18,497 shares in the company, valued at approximately $745,429.10. This represents a 35.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by corporate insiders.

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.