Virtus Advisers LLC Sells 31,958 Shares of Veracyte, Inc. $VCYT

by · The Cerbat Gem

Virtus Advisers LLC trimmed its holdings in Veracyte, Inc. (NASDAQ:VCYT – Free Report) by 88.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,272 shares of the biotechnology company’s stock after selling 31,958 shares during the period. Virtus Advisers LLC’s holdings in Veracyte were worth $115,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Veracyte by 12.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,368 shares of the biotechnology company’s stock valued at $871,000 after purchasing an additional 3,201 shares during the period. Blair William & Co. IL raised its holdings in Veracyte by 3.5% during the 1st quarter. Blair William & Co. IL now owns 16,092 shares of the biotechnology company’s stock worth $477,000 after buying an additional 550 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in Veracyte by 68.6% in the first quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 30,604 shares of the biotechnology company’s stock valued at $907,000 after buying an additional 12,448 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Veracyte by 0.6% in the first quarter. Vanguard Group Inc. now owns 8,263,643 shares of the biotechnology company’s stock valued at $245,017,000 after buying an additional 52,031 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Veracyte by 2.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 740,631 shares of the biotechnology company’s stock valued at $21,960,000 after buying an additional 19,662 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on VCYT shares. Wall Street Zen raised shares of Veracyte from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 16th. Morgan Stanley increased their price objective on Veracyte from $28.00 to $40.00 and gave the stock an “underweight” rating in a report on Tuesday, November 11th. Needham & Company LLC boosted their target price on Veracyte from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Zacks Research raised Veracyte from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Finally, Canaccord Genuity Group raised their price target on shares of Veracyte from $40.00 to $43.00 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $43.38.

Read Our Latest Report on Veracyte

Veracyte Stock Performance

VCYT opened at $47.34 on Monday. Veracyte, Inc. has a 52-week low of $22.61 and a 52-week high of $50.71. The firm has a market capitalization of $3.74 billion, a PE ratio of 143.44 and a beta of 2.16. The business’s 50-day simple moving average is $38.02 and its 200 day simple moving average is $31.41.

Veracyte (NASDAQ:VCYT – Get Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.19. The firm had revenue of $131.87 million during the quarter, compared to the consensus estimate of $124.62 million. Veracyte had a return on equity of 6.07% and a net margin of 5.50%.The business’s revenue was up 13.8% compared to the same quarter last year. During the same period last year, the company earned $0.33 earnings per share. Veracyte has set its FY 2025 guidance at EPS. On average, research analysts forecast that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Evan/ Fa Jones sold 43,196 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $45.06, for a total transaction of $1,946,411.76. Following the transaction, the director directly owned 30,468 shares in the company, valued at approximately $1,372,888.08. The trade was a 58.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jens Holstein sold 10,000 shares of Veracyte stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $42.36, for a total transaction of $423,600.00. Following the completion of the transaction, the director directly owned 27,199 shares of the company’s stock, valued at approximately $1,152,149.64. This trade represents a 26.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 98,549 shares of company stock valued at $4,109,580 in the last ninety days. 1.40% of the stock is currently owned by insiders.

About Veracyte

(Free Report)

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.

See Also

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