Sei Investments Co. Has $13.53 Million Stock Holdings in Veracyte, Inc. $VCYT

Sei Investments Co. increased its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 8.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 420,093 shares of the biotechnology company’s stock after acquiring an additional 34,309 shares during the period. Sei Investments Co. owned about 0.53% of Veracyte worth $13,531,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its stake in Veracyte by 3.8% in the fourth quarter. State Street Corp now owns 4,360,913 shares of the biotechnology company’s stock valued at $183,594,000 after purchasing an additional 161,239 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Veracyte by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,118,166 shares of the biotechnology company’s stock worth $107,042,000 after purchasing an additional 95,664 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Veracyte by 64.9% during the 1st quarter. First Trust Advisors LP now owns 2,117,046 shares of the biotechnology company’s stock valued at $68,190,000 after buying an additional 833,543 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Veracyte by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,900,882 shares of the biotechnology company’s stock valued at $80,039,000 after buying an additional 9,429 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Veracyte by 31.1% in the 2nd quarter. Bank of America Corp DE now owns 1,519,710 shares of the biotechnology company’s stock valued at $41,078,000 after buying an additional 360,947 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts recently weighed in on VCYT shares. Jefferies Financial Group initiated coverage on shares of Veracyte in a research report on Monday, April 13th. They set a “buy” rating and a $45.00 price objective on the stock. Piper Sandler began coverage on shares of Veracyte in a research note on Wednesday, July 15th. They issued an “overweight” rating and a $66.00 price objective for the company. Morgan Stanley upped their price objective on shares of Veracyte from $37.00 to $47.00 and gave the stock an “underweight” rating in a report on Thursday, July 9th. Wall Street Zen raised shares of Veracyte from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 12th. Finally, Canaccord Genuity Group increased their target price on shares of Veracyte from $42.00 to $60.00 and gave the stock a “hold” rating in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.88.

Veracyte Stock Up 7.3%

Shares of VCYT stock opened at $59.78 on Friday. Veracyte, Inc. has a 12 month low of $22.92 and a 12 month high of $60.91. The business’s 50 day moving average is $53.69 and its two-hundred day moving average is $42.29. The company has a market cap of $4.77 billion, a PE ratio of 54.84 and a beta of 1.93.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Thursday, July 30th. The biotechnology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.11. Veracyte had a net margin of 16.25% and a return on equity of 9.07%. The company had revenue of $150.32 million for the quarter, compared to analyst estimates of $144.59 million. During the same quarter last year, the firm posted $0.44 earnings per share. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, equities analysts expect that Veracyte, Inc. will post 1.27 EPS for the current fiscal year.

Insider Transactions at Veracyte

In related news, Director Robert S. Epstein sold 10,000 shares of Veracyte stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $44.01, for a total value of $440,100.00. Following the transaction, the director owned 52,446 shares in the company, valued at $2,308,148.46. This trade represents a 16.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Marc Stapley sold 138,051 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $50.12, for a total value of $6,919,116.12. Following the completion of the sale, the chief executive officer directly owned 440,494 shares in the company, valued at approximately $22,077,559.28. This represents a 23.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 206,696 shares of company stock worth $10,079,058. Corporate insiders own 1.60% of the company’s stock.

Veracyte Company Profile

Veracyte, Inc is a genomic diagnostics company focused on improving diagnostic accuracy and patient care through advanced molecular testing. Founded in 2008 and headquartered in South San Francisco, California, the company develops and commercializes minimally invasive genomic tests that aid in the diagnosis of thyroid, lung and other diseases. Veracyte’s proprietary platform analyzes gene expression patterns in clinical samples to help physicians make more informed treatment decisions, reducing unnecessary surgeries and improving patient outcomes.

The company’s flagship product, the Afirma Genomic Sequencing Classifier, is designed to assess thyroid nodules with indeterminate cytology, helping clinicians distinguish benign from suspicious nodules.