Veracyte, Inc. (NASDAQ:VCYT) Holdings Increased by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Veracyte, Inc. (NASDAQ:VCYT) by 90.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,156 shares of the biotechnology company’s stock after acquiring an additional 8,615 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Veracyte were worth $719,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp lifted its position in Veracyte by 49.7% in the fourth 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 period. US Bancorp DE raised its stake in shares of Veracyte by 57.4% in the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock worth $70,000 after buying an additional 647 shares in the last quarter. Principal Securities Inc. lifted its holdings in shares of Veracyte by 34.1% in the fourth quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock valued at $76,000 after buying an additional 485 shares during the period. Venturi Wealth Management LLC bought a new position in Veracyte during the fourth quarter valued at about $91,000. Finally, Bellevue Group AG acquired a new position in Veracyte during the third quarter worth about $123,000.

Veracyte Trading Down 3.2 %

NASDAQ:VCYT opened at $30.12 on Friday. Veracyte, Inc. has a 1-year low of $18.61 and a 1-year high of $47.32. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -200.80 and a beta of 1.80. The business’s fifty day moving average price is $37.57 and its 200 day moving average price is $37.69.

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

Insider Buying and Selling at Veracyte

In related news, Director Karin Eastham sold 10,000 shares of the 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 sale, the director now directly owns 18,497 shares in the company, valued at approximately $745,429.10. This trade represents a 35.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on VCYT shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $37.00 price target (down from $38.00) on shares of Veracyte in a report on Thursday, December 5th. Stephens reissued an “overweight” rating and set a $45.00 target price on shares of Veracyte in a research note on Wednesday. Craig Hallum initiated coverage on shares of Veracyte in a research report on Thursday, March 20th. They issued a “buy” rating and a $45.00 price target on the stock. StockNews.com lowered Veracyte from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, UBS Group boosted their target price on Veracyte from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.40.

Veracyte 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.