California Public Employees Retirement System Purchases 25,350 Shares of Veracyte Inc (NASDAQ:VCYT)

California Public Employees Retirement System boosted its position in Veracyte Inc (NASDAQ:VCYT) by 15.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 189,319 shares of the biotechnology company’s stock after purchasing an additional 25,350 shares during the quarter. California Public Employees Retirement System owned approximately 0.39% of Veracyte worth $4,544,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in VCYT. Invesco Ltd. grew its stake in shares of Veracyte by 401.5% during the second quarter. Invesco Ltd. now owns 2,985,745 shares of the biotechnology company’s stock worth $85,124,000 after acquiring an additional 2,390,394 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Veracyte by 144.4% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,764,236 shares of the biotechnology company’s stock worth $66,342,000 after acquiring an additional 1,633,287 shares during the last quarter. Nikko Asset Management Americas Inc. grew its stake in shares of Veracyte by 252.7% during the second quarter. Nikko Asset Management Americas Inc. now owns 2,148,248 shares of the biotechnology company’s stock worth $61,247,000 after acquiring an additional 1,539,114 shares during the last quarter. BlackRock Inc. grew its stake in shares of Veracyte by 43.8% during the second quarter. BlackRock Inc. now owns 3,987,802 shares of the biotechnology company’s stock worth $113,692,000 after acquiring an additional 1,215,062 shares during the last quarter. Finally, Nuveen Asset Management LLC purchased a new stake in shares of Veracyte during the second quarter worth about $33,505,000.

Shares of NASDAQ VCYT opened at $25.44 on Tuesday. The business’s 50 day moving average price is $23.83 and its 200 day moving average price is $25.55. The firm has a market cap of $1.18 billion, a P/E ratio of -41.03 and a beta of 1.01. Veracyte Inc has a 52 week low of $10.73 and a 52 week high of $31.18.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Tuesday, October 22nd. The biotechnology company reported ($0.02) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.05. The firm had revenue of $30.97 million for the quarter, compared to analyst estimates of $30.41 million. Veracyte had a negative return on equity of 5.33% and a negative net margin of 7.08%. As a group, sell-side analysts anticipate that Veracyte Inc will post -0.19 earnings per share for the current year.

In related news, Director Evan/ Fa Jones sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $26.11, for a total value of $261,100.00. Following the sale, the director now owns 25,000 shares in the company, valued at $652,750. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Keith Kennedy sold 1,243 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $28.00, for a total value of $34,804.00. Following the completion of the sale, the chief financial officer now owns 111,286 shares in the company, valued at approximately $3,116,008. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,958 shares of company stock worth $2,489,529. 8.30% of the stock is owned by insiders.

A number of equities research analysts have recently weighed in on VCYT shares. BidaskClub upgraded Veracyte from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Zacks Investment Research lowered Veracyte from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. TheStreet upgraded Veracyte from a “d” rating to a “c-” rating in a research note on Thursday, August 1st. Lake Street Capital started coverage on Veracyte in a research note on Wednesday, July 31st. They set a “buy” rating and a $35.00 price target on the stock. Finally, ValuEngine upgraded Veracyte from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Veracyte presently has a consensus rating of “Buy” and an average target price of $25.46.

About Veracyte

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.

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Institutional Ownership by Quarter for Veracyte (NASDAQ:VCYT)

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