Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC decreased its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 38.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 129,260 shares of the biotechnology company’s stock after selling 80,215 shares during the quarter. Parkman Healthcare Partners LLC owned approximately 0.17% of Veracyte worth $4,400,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Blue Trust Inc. raised its position in shares of Veracyte by 2,331.6% during the 2nd quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 1,329 shares during the period. CWM LLC lifted its stake in Veracyte by 168.3% in the second quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 951 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Veracyte during the second quarter valued at $58,000. Signature Resources Capital Management LLC bought a new position in shares of Veracyte during the second quarter worth about $83,000. Finally, nVerses Capital LLC acquired a new stake in shares of Veracyte in the 2nd quarter worth about $85,000.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Scotiabank boosted their target price on shares of Veracyte from $40.00 to $44.00 and gave the company a “sector outperform” rating in a research note on Friday, November 8th. Morgan Stanley boosted their price objective on Veracyte from $26.00 to $28.00 and gave the stock an “underweight” rating in a research report on Monday, November 18th. Needham & Company LLC raised their target price on Veracyte from $37.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Wolfe Research initiated coverage on Veracyte in a research note on Friday, November 15th. They issued an “outperform” rating and a $50.00 price target for the company. Finally, The Goldman Sachs Group lifted their price objective on shares of Veracyte from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.25.

Veracyte Price Performance

Shares of NASDAQ VCYT opened at $43.66 on Wednesday. The firm has a 50-day moving average of $36.10 and a two-hundred day moving average of $29.36. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $44.45.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.16. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The firm had revenue of $115.86 million during the quarter, compared to analysts’ expectations of $109.81 million. During the same period last year, the firm posted ($0.03) earnings per share. The firm’s revenue for the quarter was up 28.6% compared to the same quarter last year. Equities analysts predict that Veracyte, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Evan/ Fa Jones sold 5,173 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $35.23, for a total value of $182,244.79. Following the completion of the sale, the director now owns 34,343 shares in the company, valued at $1,209,903.89. This represents a 13.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jonathan Wygant sold 5,032 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $42.89, for a total value of $215,822.48. Following the transaction, the chief accounting officer now directly owns 42,313 shares in the company, valued at $1,814,804.57. The trade was a 10.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

About Veracyte

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.