Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 62.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,547 shares of the biotechnology company’s stock after selling 14,223 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Veracyte were worth $235,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. CWM LLC increased its stake in Veracyte by 533.0% during the 3rd quarter. CWM LLC now owns 2,146 shares of the biotechnology company’s stock worth $48,000 after buying an additional 1,807 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Veracyte during the third quarter worth $390,000. Asset Management One Co. Ltd. acquired a new stake in shares of Veracyte in the third quarter valued at $84,000. Handelsbanken Fonder AB raised its stake in shares of Veracyte by 46.1% in the third quarter. Handelsbanken Fonder AB now owns 21,006 shares of the biotechnology company’s stock valued at $469,000 after acquiring an additional 6,631 shares in the last quarter. Finally, AMI Asset Management Corp boosted its holdings in Veracyte by 14.4% in the third quarter. AMI Asset Management Corp now owns 195,583 shares of the biotechnology company’s stock valued at $4,367,000 after purchasing an additional 24,585 shares during the period.

Insider Activity

In related news, Director Karin Eastham sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $21.65, for a total transaction of $216,500.00. Following the transaction, the director now owns 33,125 shares in the company, valued at approximately $717,156.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.60% of the company’s stock.

Veracyte Trading Down 0.9 %

VCYT stock opened at $19.31 on Friday. The company’s 50 day moving average is $21.60 and its two-hundred day moving average is $23.87. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $30.52. The stock has a market cap of $1.45 billion, a P/E ratio of -18.75 and a beta of 1.62.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. Veracyte had a negative net margin of 20.61% and a negative return on equity of 2.02%. The firm had revenue of $98.20 million for the quarter, compared to analyst estimates of $95.49 million. On average, equities research analysts predict that Veracyte, Inc. will post -0.29 earnings per share for the current year.

Analyst Ratings Changes

VCYT has been the topic of a number of analyst reports. William Blair reaffirmed an “outperform” rating on shares of Veracyte in a research report on Friday, February 23rd. Morgan Stanley decreased their price target on shares of Veracyte from $22.00 to $21.00 and set an “underweight” rating for the company in a research note on Monday, February 26th. The Goldman Sachs Group dropped their price objective on shares of Veracyte from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, April 15th. Finally, Needham & Company LLC lifted their price objective on shares of Veracyte from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Veracyte Company Profile

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.