Robeco Institutional Asset Management B.V. boosted its holdings in Veracyte Inc (NASDAQ:VCYT) by 127.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 465,999 shares of the biotechnology company’s stock after purchasing an additional 260,870 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Veracyte were worth $13,286,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Gilder Gagnon Howe & Co. LLC bought a new position in Veracyte in the 1st quarter worth approximately $86,400,000. Nikko Asset Management Americas Inc. increased its position in Veracyte by 23,740.9% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 609,134 shares of the biotechnology company’s stock worth $15,241,000 after buying an additional 606,579 shares during the period. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Veracyte in the 1st quarter worth approximately $14,934,000. William Blair Investment Management LLC bought a new position in Veracyte in the 1st quarter worth approximately $11,887,000. Finally, Geode Capital Management LLC increased its position in Veracyte by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 391,137 shares of the biotechnology company’s stock worth $4,919,000 after buying an additional 13,261 shares during the period. 97.01% of the stock is currently owned by institutional investors.
Several research analysts have commented on the company. Zacks Investment Research raised Veracyte from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Saturday, May 4th. ValuEngine downgraded Veracyte from a “strong-buy” rating to a “buy” rating in a research report on Thursday. BidaskClub downgraded Veracyte from a “strong-buy” rating to a “buy” rating in a research report on Saturday. TheStreet raised Veracyte from a “d” rating to a “c-” rating in a research report on Thursday. Finally, Lake Street Capital assumed coverage on Veracyte in a research report on Wednesday, July 31st. They issued a “buy” rating and a $35.00 price target on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Veracyte presently has a consensus rating of “Buy” and an average price target of $25.06.
Shares of VCYT traded down $1.12 on Monday, reaching $24.04. 19,434 shares of the stock traded hands, compared to its average volume of 634,520. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -39.65 and a beta of 0.97. Veracyte Inc has a 12 month low of $8.77 and a 12 month high of $31.18. The stock’s 50-day moving average is $28.29.
Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Tuesday, July 30th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04. The business had revenue of $30.14 million for the quarter, compared to analysts’ expectations of $29.20 million. Veracyte had a negative return on equity of 10.26% and a negative net margin of 11.01%. Research analysts forecast that Veracyte Inc will post -0.23 EPS for the current year.
In other news, Chairman Bonnie H. Anderson sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $26.33, for a total transaction of $210,640.00. Following the sale, the chairman now directly owns 127,955 shares in the company, valued at $3,369,055.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 24,000 shares of company stock worth $624,880. 8.30% of the stock is currently owned by company insiders.
Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.
Further Reading: Preferred Stock
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