Cinctive Capital Management LP Purchases 4,342 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Cinctive Capital Management LP lifted its position in Veracyte, Inc. (NASDAQ:VCYT) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,015 shares of the biotechnology company’s stock after acquiring an additional 4,342 shares during the quarter. Cinctive Capital Management LP’s holdings in Veracyte were worth $3,711,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in VCYT. KBC Group NV raised its holdings in shares of Veracyte by 13.7% in the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 323 shares in the last quarter. Inspire Investing LLC raised its stake in Veracyte by 2.1% in the second quarter. Inspire Investing LLC now owns 16,462 shares of the biotechnology company’s stock worth $357,000 after buying an additional 340 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Veracyte by 21.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,778 shares of the biotechnology company’s stock worth $94,000 after buying an additional 496 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in Veracyte by 6.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 8,198 shares of the biotechnology company’s stock valued at $182,000 after acquiring an additional 530 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Veracyte by 3.7% in the 2nd quarter. Arizona State Retirement System now owns 20,806 shares of the biotechnology company’s stock valued at $451,000 after acquiring an additional 733 shares during the period.

Insider Activity

In related news, CAO Jonathan Wygant sold 5,032 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $42.89, for a total value of $215,822.48. Following the sale, the chief accounting officer now owns 42,313 shares in the company, valued at $1,814,804.57. This represents a 10.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Leite sold 5,479 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $29.78, for a total transaction of $163,164.62. Following the transaction, the insider now directly owns 76,174 shares of the company’s stock, valued at $2,268,461.72. This represents a 6.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,684 shares of company stock valued at $561,232. Company insiders own 1.30% of the company’s stock.

Veracyte Trading Up 2.7 %

VCYT stock opened at $44.12 on Tuesday. Veracyte, Inc. has a 52 week low of $18.61 and a 52 week high of $44.45. The firm has a 50 day moving average of $35.90 and a 200 day moving average of $29.22.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data 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. The firm had revenue of $115.86 million for 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 business’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.03) earnings per share. As a group, analysts predict that Veracyte, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VCYT has been the subject of a number of analyst reports. Leerink Partners upped their price objective on Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Wolfe Research started coverage on shares of Veracyte in a report on Friday, November 15th. They issued an “outperform” rating and a $50.00 price target on the stock. Needham & Company LLC lifted their price objective on shares of Veracyte from $37.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley increased their target price 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, Guggenheim began coverage on shares of Veracyte in a research note on Thursday, October 10th. They issued a “buy” rating and a $40.00 target price for the company. One analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.25.

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.