Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. reduced its position in Veracyte, Inc. (NASDAQ:VCYT) by 84.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,906 shares of the biotechnology company’s stock after selling 44,613 shares during the quarter. Phocas Financial Corp.’s holdings in Veracyte were worth $313,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC acquired a new position in shares of Veracyte during the 3rd quarter worth $554,000. Eventide Asset Management LLC grew its stake in shares of Veracyte by 20.2% during the 3rd quarter. Eventide Asset Management LLC now owns 677,883 shares of the biotechnology company’s stock worth $23,075,000 after purchasing an additional 113,883 shares during the period. Erste Asset Management GmbH acquired a new position in shares of Veracyte during the 3rd quarter worth $574,000. Neo Ivy Capital Management acquired a new position in shares of Veracyte during the 3rd quarter worth $820,000. Finally, Intech Investment Management LLC acquired a new position in shares of Veracyte during the 3rd quarter worth $723,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Veracyte from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday. Scotiabank upped their price target on shares of Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $51.00 price target on shares of Veracyte in a research note on Tuesday. StockNews.com lowered shares of Veracyte from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Guggenheim reiterated a “buy” rating and issued a $45.00 price objective on shares of Veracyte in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Insider Buying and Selling at Veracyte

In other Veracyte news, CAO Jonathan Wygant sold 956 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $43.36, for a total value of $41,452.16. Following the transaction, the chief accounting officer now directly owns 40,270 shares in the company, valued at approximately $1,746,107.20. This represents a 2.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karin Eastham sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total transaction of $403,000.00. Following the transaction, the director now owns 18,497 shares in the company, valued at approximately $745,429.10. The trade was a 35.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,533 shares of company stock worth $815,584. Corporate insiders own 1.30% of the company’s stock.

Veracyte Stock Up 6.2 %

Veracyte stock opened at $35.53 on Thursday. The firm has a market capitalization of $2.75 billion, a PE ratio of -236.87 and a beta of 1.71. The firm’s 50-day simple moving average is $41.71 and its 200 day simple moving average is $37.63. Veracyte, Inc. has a 52 week low of $18.61 and a 52 week high of $47.32.

Veracyte (NASDAQ:VCYT) last released its earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The company had revenue of $118.63 million for the quarter, compared to analyst estimates of $110.73 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. During the same period in the prior year, the firm earned ($0.39) EPS. On average, research analysts expect that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.

Veracyte Company Profile

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.