Vestmark Advisory Solutions Inc. Acquires 81,007 Shares of Veracyte, Inc. $VCYT

Vestmark Advisory Solutions Inc. raised its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 84.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 177,212 shares of the biotechnology company’s stock after acquiring an additional 81,007 shares during the period. Vestmark Advisory Solutions Inc. owned approximately 0.23% of Veracyte worth $4,790,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. EFG Asset Management North America Corp. lifted its stake in Veracyte by 3.9% in the second quarter. EFG Asset Management North America Corp. now owns 207,382 shares of the biotechnology company’s stock valued at $5,600,000 after buying an additional 7,729 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Veracyte in the 2nd quarter valued at about $25,000. Wakefield Asset Management LLLP acquired a new stake in shares of Veracyte in the 2nd quarter valued at approximately $1,051,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Veracyte by 130.3% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 70,494 shares of the biotechnology company’s stock valued at $1,905,000 after acquiring an additional 39,890 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its stake in Veracyte by 39.9% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 68,739 shares of the biotechnology company’s stock worth $1,858,000 after acquiring an additional 19,590 shares during the last quarter.

Veracyte Stock Up 0.0%

NASDAQ:VCYT opened at $41.70 on Friday. The company has a market cap of $3.28 billion, a P/E ratio of 126.37 and a beta of 2.16. Veracyte, Inc. has a twelve month low of $22.61 and a twelve month high of $47.32. The business has a 50 day moving average price of $34.59 and a two-hundred day moving average price of $30.10.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.19. Veracyte had a net margin of 5.50% and a return on equity of 6.07%. The business had revenue of $131.87 million for the quarter, compared to analyst estimates of $124.62 million. During the same quarter in the previous year, the firm posted $0.33 earnings per share. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. Veracyte has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Phillip G. Febbo sold 8,349 shares of the company’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $36.02, for a total transaction of $300,730.98. Following the sale, the insider owned 92,441 shares in the company, valued at approximately $3,329,724.82. This represents a 8.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Karin Eastham sold 9,674 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $40.02, for a total value of $387,153.48. Following the transaction, the director directly owned 13,554 shares in the company, valued at $542,431.08. This trade represents a 41.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 84,635 shares of company stock worth $3,490,004 over the last three months. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

VCYT has been the topic of several analyst reports. Needham & Company LLC increased their target price on shares of Veracyte from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley set a $28.00 price objective on shares of Veracyte and gave the company an “underweight” rating in a research report on Friday, August 8th. Canaccord Genuity Group lifted their target price on Veracyte from $40.00 to $43.00 and gave the stock a “hold” rating in a report on Wednesday. Zacks Research raised Veracyte from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Finally, UBS Group raised their price target on Veracyte from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Veracyte currently has a consensus rating of “Moderate Buy” and an average target price of $42.78.

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.