Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC trimmed its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 0.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,982,203 shares of the biotechnology company’s stock after selling 15,580 shares during the period. Veracyte comprises 1.3% of ArrowMark Colorado Holdings LLC’s holdings, making the stock its 21st largest position. ArrowMark Colorado Holdings LLC’s holdings in Veracyte were worth $101,514,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of VCYT. Point72 Asset Management L.P. acquired a new stake in shares of Veracyte during the 2nd quarter valued at about $12,279,000. William Blair Investment Management LLC increased its holdings in Veracyte by 67.4% in the 2nd quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company’s stock worth $26,907,000 after acquiring an additional 500,020 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Veracyte by 288.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 360,871 shares of the biotechnology company’s stock worth $12,284,000 after acquiring an additional 268,000 shares during the period. Algert Global LLC lifted its holdings in Veracyte by 411.1% during the third quarter. Algert Global LLC now owns 201,697 shares of the biotechnology company’s stock valued at $6,866,000 after purchasing an additional 162,236 shares in the last quarter. Finally, Peregrine Asset Advisers Inc. purchased a new stake in shares of Veracyte during the third quarter worth about $4,681,000.

Veracyte Stock Up 0.1 %

VCYT opened at $42.95 on Monday. The firm has a market cap of $3.33 billion, a P/E ratio of -286.33 and a beta of 1.67. Veracyte, Inc. has a 52 week low of $18.61 and a 52 week high of $44.16. The business has a fifty day simple moving average of $35.70 and a 200-day simple moving average of $29.07.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings data 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. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The business had revenue of $115.86 million for the quarter, compared to analyst estimates of $109.81 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. The company’s revenue was up 28.6% on a year-over-year basis. Sell-side analysts expect that Veracyte, Inc. will post 0.32 earnings per share for the current year.

Insider Activity at Veracyte

In other news, CAO Jonathan Wygant sold 5,032 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $42.89, for a total transaction of $215,822.48. Following the completion of the sale, the chief accounting officer now owns 42,313 shares in the company, valued at approximately $1,814,804.57. This represents a 10.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Leite sold 5,479 shares of Veracyte stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total value of $163,164.62. Following the completion of the transaction, the insider now owns 76,174 shares in the company, valued at $2,268,461.72. This trade represents a 6.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,684 shares of company stock valued at $561,232 in the last three months. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wolfe Research assumed coverage on Veracyte in a research report on Friday, November 15th. They set an “outperform” rating and a $50.00 price target for the company. Morgan Stanley upped their price objective on shares of Veracyte from $26.00 to $28.00 and gave the company an “underweight” rating in a research note on Monday, November 18th. UBS Group boosted their price objective on Veracyte from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Leerink Partners raised their target price on Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Guggenheim assumed coverage on shares of Veracyte in a research report on Thursday, October 10th. They set a “buy” rating and a $40.00 price target on the stock. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.25.

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.