Veracyte Inc (NASDAQ:VCYT) Shares Acquired by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lifted its stake in shares of Veracyte Inc (NASDAQ:VCYT) by 1,433.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,150 shares of the biotechnology company’s stock after buying an additional 1,075 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Veracyte were worth $28,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisor Group Inc. purchased a new position in Veracyte in the 2nd quarter valued at $29,000. NumerixS Investment Technologies Inc purchased a new position in Veracyte during the 2nd quarter worth $54,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Veracyte during the 2nd quarter worth $78,000. US Bancorp DE raised its position in Veracyte by 540.9% during the 2nd quarter. US Bancorp DE now owns 2,916 shares of the biotechnology company’s stock worth $83,000 after buying an additional 2,461 shares during the last quarter. Finally, Convergence Investment Partners LLC lifted its stake in shares of Veracyte by 13.3% in the 3rd quarter. Convergence Investment Partners LLC now owns 5,918 shares of the biotechnology company’s stock worth $142,000 after acquiring an additional 695 shares during the period.

Veracyte stock opened at $29.18 on Friday. The stock’s 50 day moving average price is $25.14 and its 200 day moving average price is $25.88. Veracyte Inc has a 1-year low of $10.73 and a 1-year high of $31.18. The company has a market cap of $1.43 billion, a PE ratio of -47.06 and a beta of 1.14.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Tuesday, October 22nd. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.05. Veracyte had a negative return on equity of 5.33% and a negative net margin of 7.08%. The firm had revenue of $30.97 million during the quarter, compared to analysts’ expectations of $30.41 million. Research analysts expect that Veracyte Inc will post -0.19 EPS for the current fiscal year.

In other news, CEO Bonnie H. Anderson sold 8,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $24.51, for a total value of $196,080.00. Following the completion of the transaction, the chief executive officer now owns 111,028 shares in the company, valued at approximately $2,721,296.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Walter Hanna, Jr. sold 18,593 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $25.66, for a total transaction of $477,096.38. Following the completion of the transaction, the insider now owns 84,085 shares of the company’s stock, valued at approximately $2,157,621.10. The disclosure for this sale can be found here. Insiders have sold a total of 141,079 shares of company stock worth $3,714,170 over the last 90 days. Insiders own 8.30% of the company’s stock.

Several brokerages have recently weighed in on VCYT. Zacks Investment Research downgraded shares of Veracyte from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Lake Street Capital reissued a “buy” rating and set a $35.00 price target on shares of Veracyte in a report on Wednesday. ValuEngine raised shares of Veracyte from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. BidaskClub downgraded shares of Veracyte from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Veracyte in a report on Wednesday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $28.75.

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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