Quest Partners LLC Has $336,000 Stock Holdings in Veracyte, Inc. (NASDAQ:VCYT)

Quest Partners LLC decreased its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 52.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,879 shares of the biotechnology company’s stock after selling 10,701 shares during the period. Quest Partners LLC’s holdings in Veracyte were worth $336,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Veracyte by 3.7% during the first quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company’s stock worth $163,649,000 after buying an additional 266,660 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Veracyte by 67.4% in the second quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company’s stock valued at $26,907,000 after purchasing an additional 500,020 shares during the last quarter. Granite Investment Partners LLC raised its holdings in shares of Veracyte by 2.1% in the second quarter. Granite Investment Partners LLC now owns 934,994 shares of the biotechnology company’s stock valued at $20,261,000 after purchasing an additional 19,244 shares during the last quarter. Fiera Capital Corp raised its holdings in shares of Veracyte by 1.2% in the second quarter. Fiera Capital Corp now owns 625,536 shares of the biotechnology company’s stock valued at $13,555,000 after purchasing an additional 7,219 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Veracyte in the second quarter valued at about $12,279,000.

Veracyte Stock Up 3.8 %

Shares of NASDAQ:VCYT opened at $41.10 on Tuesday. The firm has a market capitalization of $3.19 billion, a PE ratio of -263.93 and a beta of 1.67. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $41.43. The company has a 50-day moving average price of $34.89 and a two-hundred day moving average price of $28.36.

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

Insiders Place Their Bets

In other news, Director Evan/ Fa Jones sold 5,173 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $35.23, for a total value of $182,244.79. Following the completion of the transaction, the director now directly owns 34,343 shares in the company, valued at approximately $1,209,903.89. This trade represents a 13.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Leite sold 5,479 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total transaction of $163,164.62. Following the completion of the transaction, the insider now owns 76,174 shares of the company’s stock, valued at $2,268,461.72. This trade represents a 6.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

VCYT has been the subject of several analyst reports. Needham & Company LLC increased their target price on shares of Veracyte from $37.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Guggenheim initiated coverage on shares of Veracyte in a research report on Thursday, October 10th. They set a “buy” rating and a $40.00 price target for the company. UBS Group increased their price target on shares of Veracyte from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley increased their price target on shares of Veracyte from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Monday, November 18th. Finally, Leerink Partners increased their price target on shares of Veracyte from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $41.25.

About Veracyte

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.