Wells Fargo & Company MN Has $10 Million Stock Position in Veracyte Inc (NASDAQ:VCYT)

Wells Fargo & Company MN lifted its stake in Veracyte Inc (NASDAQ:VCYT) by 111.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 350,697 shares of the biotechnology company’s stock after acquiring an additional 184,597 shares during the period. Wells Fargo & Company MN owned approximately 0.72% of Veracyte worth $9,998,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in VCYT. GSA Capital Partners LLP raised its holdings in shares of Veracyte by 42.8% in the second quarter. GSA Capital Partners LLP now owns 57,895 shares of the biotechnology company’s stock valued at $1,651,000 after buying an additional 17,344 shares during the last quarter. Arabesque Asset Management Ltd acquired a new position in Veracyte in the second quarter valued at about $539,000. State Board of Administration of Florida Retirement System acquired a new position in Veracyte in the second quarter valued at about $229,000. Lisanti Capital Growth LLC lifted its stake in Veracyte by 26.8% in the second quarter. Lisanti Capital Growth LLC now owns 129,990 shares of the biotechnology company’s stock valued at $3,706,000 after buying an additional 27,480 shares during the period. Finally, Chicago Equity Partners LLC acquired a new position in Veracyte in the second quarter valued at about $563,000. Institutional investors and hedge funds own 99.64% of the company’s stock.

Shares of Veracyte stock traded up $0.56 during trading hours on Thursday, hitting $25.17. The company’s stock had a trading volume of 5,427 shares, compared to its average volume of 648,735. Veracyte Inc has a 12 month low of $8.77 and a 12 month high of $31.18. The stock has a 50 day moving average of $26.12 and a 200 day moving average of $25.13. The company has a market capitalization of $1.21 billion, a PE ratio of -40.56 and a beta of 1.07.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Tuesday, July 30th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.04. Veracyte had a negative return on equity of 10.26% and a negative net margin of 11.01%. The company had revenue of $30.14 million during the quarter, compared to the consensus estimate of $29.20 million. As a group, research analysts anticipate that Veracyte Inc will post -0.23 earnings per share for the current fiscal year.

VCYT has been the subject of several recent analyst reports. TheStreet upgraded Veracyte from a “d” rating to a “c-” rating in a report on Thursday, August 1st. BidaskClub downgraded Veracyte from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. Needham & Company LLC set a $34.00 price target on Veracyte and gave the stock a “buy” rating in a report on Wednesday, July 31st. Lake Street Capital initiated coverage on Veracyte in a report on Wednesday, July 31st. They issued a “buy” rating and a $35.00 price target for the company. Finally, ValuEngine downgraded Veracyte from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $25.06.

In related news, insider Giulia C. Kennedy sold 28,257 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $25.38, for a total transaction of $717,162.66. Following the completion of the transaction, the insider now directly owns 56,575 shares in the company, valued at $1,435,873.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Giulia C. Kennedy sold 15,031 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $25.32, for a total value of $380,584.92. Following the transaction, the insider now owns 51,787 shares of the company’s stock, valued at $1,311,246.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,288 shares of company stock valued at $2,187,108. 8.30% of the stock is owned by corporate insiders.

Veracyte Profile

Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.

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Institutional Ownership by Quarter for Veracyte (NASDAQ:VCYT)

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