Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Champlain Investment Partners LLC

Champlain Investment Partners LLC reduced its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 20.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,531,480 shares of the biotechnology company’s stock after selling 636,190 shares during the period. Champlain Investment Partners LLC’s holdings in Veracyte were worth $86,172,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Blue Trust Inc. lifted its holdings in Veracyte by 2,331.6% in the 2nd quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 1,329 shares in the last quarter. CWM LLC lifted its stake in shares of Veracyte by 168.3% in the second quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock worth $33,000 after buying an additional 951 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Veracyte during the second quarter worth about $58,000. Signature Resources Capital Management LLC purchased a new stake in Veracyte during the 2nd quarter valued at about $83,000. Finally, nVerses Capital LLC acquired a new stake in Veracyte in the 2nd quarter valued at about $85,000.

Veracyte Price Performance

Shares of NASDAQ:VCYT opened at $39.59 on Friday. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $41.43. The business has a 50-day moving average price of $34.75 and a 200 day moving average price of $28.12.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.16. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The business had revenue of $115.86 million during the quarter, compared to analysts’ expectations of $109.81 million. During the same period last year, the business earned ($0.03) earnings per share. The business’s revenue for the quarter was up 28.6% on a year-over-year basis. Equities analysts predict that Veracyte, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Veracyte

In other Veracyte news, insider John Leite sold 5,479 shares of Veracyte stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.78, for a total value of $163,164.62. Following the completion of the transaction, the insider now directly owns 76,174 shares of the company’s stock, valued at $2,268,461.72. The trade was a 6.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Evan/ Fa Jones sold 5,173 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $35.23, for a total transaction of $182,244.79. Following the sale, the director now directly owns 34,343 shares in the company, valued at $1,209,903.89. This represents a 13.09 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on VCYT. UBS Group upped their price target on Veracyte from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Wolfe Research started coverage on Veracyte in a report on Friday, November 15th. They issued an “outperform” rating and a $50.00 target price for the company. Leerink Partners raised their target price on Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Needham & Company LLC boosted their price target on shares of Veracyte from $37.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group upped their price objective on shares of Veracyte from $34.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.25.

Veracyte 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.