Parallel Advisors LLC Boosts Stock Position in Veracyte, Inc. (NASDAQ:VCYT)

Parallel Advisors LLC grew its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 6,108.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,567 shares of the biotechnology company’s stock after acquiring an additional 8,429 shares during the period. Parallel Advisors LLC’s holdings in Veracyte were worth $339,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings in Veracyte by 49.7% in the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 237 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Veracyte by 1.2% in the 4th quarter. Arizona State Retirement System now owns 22,276 shares of the biotechnology company’s stock valued at $882,000 after purchasing an additional 264 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Veracyte by 1.9% in the 4th quarter. HighTower Advisors LLC now owns 16,630 shares of the biotechnology company’s stock valued at $659,000 after purchasing an additional 305 shares in the last quarter. KBC Group NV lifted its position in shares of Veracyte by 13.7% during the third quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock worth $91,000 after purchasing an additional 323 shares during the last quarter. Finally, Principal Securities Inc. increased its holdings in Veracyte by 34.1% in the fourth quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock valued at $76,000 after buying an additional 485 shares during the last quarter.

Insider Buying and Selling

In other Veracyte news, Director Karin Eastham sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total transaction of $403,000.00. Following the sale, the director now directly owns 18,497 shares in the company, valued at approximately $745,429.10. The trade was a 35.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

Veracyte Trading Down 0.1 %

Shares of NASDAQ VCYT opened at $31.82 on Friday. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $47.32. The company has a market cap of $2.48 billion, a PE ratio of -212.13 and a beta of 1.80. The stock has a 50 day simple moving average of $38.53 and a 200-day simple moving average of $37.61.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The company had revenue of $118.63 million during the quarter, compared to analyst estimates of $110.73 million. During the same quarter in the previous year, the firm posted ($0.39) EPS. Sell-side analysts forecast that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $37.00 target price (down previously from $38.00) on shares of Veracyte in a report on Thursday, December 5th. StockNews.com downgraded shares of Veracyte from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Needham & Company LLC reiterated a “buy” rating and set a $51.00 target price on shares of Veracyte in a research note on Tuesday, February 25th. UBS Group raised their price target on shares of Veracyte from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Finally, Guggenheim reaffirmed a “buy” rating and set a $45.00 price objective on shares of Veracyte in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.22.

Veracyte 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.