Veracyte, Inc. (VCYT) Shares Sold by Cortina Asset Management LLC
Cortina Asset Management LLC lessened its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 7.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 687,084 shares of the biotechnology company’s stock after selling 57,765 shares during the period. Cortina Asset Management LLC owned about 2.03% of Veracyte worth $6,026,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of VCYT. SG Americas Securities LLC bought a new stake in shares of Veracyte during the second quarter valued at approximately $103,000. Nationwide Fund Advisors raised its stake in Veracyte by 16.8% in the second quarter. Nationwide Fund Advisors now owns 13,235 shares of the biotechnology company’s stock worth $110,000 after buying an additional 1,908 shares in the last quarter. State of Wisconsin Investment Board bought a new position in Veracyte in the second quarter worth approximately $142,000. The Manufacturers Life Insurance Company raised its stake in Veracyte by 52.1% in the second quarter. The Manufacturers Life Insurance Company now owns 22,961 shares of the biotechnology company’s stock worth $191,000 after buying an additional 7,867 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Veracyte by 54.2% in the second quarter. Rhumbline Advisers now owns 24,749 shares of the biotechnology company’s stock worth $206,000 after buying an additional 8,702 shares in the last quarter. 69.03% of the stock is owned by hedge funds and other institutional investors.
Veracyte, Inc. (VCYT) traded up $0.06 during midday trading on Thursday, reaching $6.55. 108,700 shares of the company’s stock traded hands, compared to its average volume of 129,772. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.86 and a current ratio of 5.19. Veracyte, Inc. has a fifty-two week low of $5.75 and a fifty-two week high of $9.80.
Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Monday, November 6th. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.21). Veracyte had a negative net margin of 38.19% and a negative return on equity of 52.99%. The business had revenue of $17.50 million for the quarter, compared to analyst estimates of $19.54 million. During the same period in the previous year, the company earned ($0.20) earnings per share. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. sell-side analysts anticipate that Veracyte, Inc. will post -0.87 EPS for the current year.
In other Veracyte news, Chairman Bonnie H. Anderson sold 16,000 shares of Veracyte stock in a transaction on Friday, October 20th. The shares were sold at an average price of $9.41, for a total value of $150,560.00. Following the transaction, the chairman now directly owns 16,000 shares of the company’s stock, valued at $150,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Evan/ Fa Jones sold 22,500 shares of Veracyte stock in a transaction on Monday, August 28th. The stock was sold at an average price of $7.81, for a total transaction of $175,725.00. The disclosure for this sale can be found here. Insiders sold 70,500 shares of company stock worth $611,465 over the last ninety days. Corporate insiders own 13.40% of the company’s stock.
A number of brokerages recently commented on VCYT. BidaskClub raised shares of Veracyte from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Janney Montgomery Scott downgraded shares of Veracyte from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 7th. ValuEngine downgraded shares of Veracyte from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Zacks Investment Research raised shares of Veracyte from a “hold” rating to a “buy” rating and set a $9.25 price objective for the company in a research note on Friday, August 4th. Finally, Piper Jaffray Companies downgraded shares of Veracyte from an “overweight” rating to a “neutral” rating in a research note on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $11.85.
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Veracyte, Inc is a genomic diagnostics company. The Company uses genomic technology to resolve diagnostic ambiguity. It targets diseases in which patients undergo invasive diagnostic procedures. Its products combine genomic technology, clinical science and machine learning. The Company commercializes over three genomic tests, which are transforming the diagnosis of thyroid cancer, lung cancer and idiopathic pulmonary fibrosis.
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