Veracyte, Inc. (NASDAQ:VCYT) Shares Bought by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. raised its stake in Veracyte, Inc. (NASDAQ:VCYT) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 206,227 shares of the biotechnology company’s stock after buying an additional 1,973 shares during the period. Veracyte makes up approximately 1.1% of EFG Asset Management North America Corp.’s holdings, making the stock its 11th largest holding. EFG Asset Management North America Corp. owned about 0.27% of Veracyte worth $8,163,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Prudential Financial Inc. increased its stake in Veracyte by 602.6% in the 4th quarter. Prudential Financial Inc. now owns 122,003 shares of the biotechnology company’s stock valued at $4,831,000 after purchasing an additional 104,639 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Veracyte by 6.0% during the 4th quarter. Vanguard Group Inc. now owns 8,211,612 shares of the biotechnology company’s stock worth $325,180,000 after buying an additional 463,098 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Veracyte in the 4th quarter worth about $610,000. Sei Investments Co. grew its stake in Veracyte by 33.7% in the 4th quarter. Sei Investments Co. now owns 360,106 shares of the biotechnology company’s stock valued at $14,260,000 after acquiring an additional 90,863 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Veracyte by 66.8% during the 4th quarter. American Century Companies Inc. now owns 11,885 shares of the biotechnology company’s stock valued at $471,000 after acquiring an additional 4,761 shares in the last quarter.

Wall Street Analysts Forecast Growth

VCYT has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $51.00 target price on shares of Veracyte in a research note on Tuesday, February 25th. StockNews.com downgraded Veracyte from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Craig Hallum initiated coverage on Veracyte in a research report on Thursday, March 20th. They set a “buy” rating and a $45.00 price objective for the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $37.00 target price (down previously from $38.00) on shares of Veracyte in a research note on Thursday, December 5th. Finally, UBS Group raised their price target on shares of Veracyte from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Veracyte has an average rating of “Moderate Buy” and a consensus price target of $43.22.

Insider Buying and Selling

In other news, Director Karin Eastham sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total value of $403,000.00. Following the transaction, the director now directly owns 18,497 shares in the company, valued at $745,429.10. This trade represents a 35.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Veracyte Price Performance

NASDAQ VCYT opened at $33.16 on Tuesday. The company has a 50-day moving average of $38.34 and a 200-day moving average of $37.74. Veracyte, Inc. has a 12 month low of $18.61 and a 12 month high of $47.32. The company has a market cap of $2.58 billion, a P/E ratio of -221.07 and a beta of 1.80.

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