ProShare Advisors LLC Reduces Stake in Veracyte, Inc. (NASDAQ:VCYT)

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ProShare Advisors LLC reduced its stake in Veracyte, Inc. (NASDAQ:VCYT – Free Report) by 21.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,470 shares of the biotechnology company’s stock after selling 3,872 shares during the quarter. ProShare Advisors LLC’s holdings in Veracyte were worth $314,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have added to or reduced their stakes in the company. Seven Eight Capital LP purchased a new position in Veracyte during the fourth quarter valued at approximately $1,118,000. Granahan Investment Management LLC increased its position in shares of Veracyte by 32.1% during the 4th quarter. Granahan Investment Management LLC now owns 503,898 shares of the biotechnology company’s stock valued at $13,862,000 after buying an additional 122,574 shares. of shares in the last quarter. Parkman Healthcare Partners LLC boosted its holdings in shares of Veracyte by 5.1% in the fourth quarter. Parkman Healthcare Partners LLC now owns 237,316 shares of the biotechnology company’s stock worth $6,529,000 after purchasing an additional 11,444 shares during the period. Vanguard Group Inc. grew its position in shares of Veracyte by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 7,118,211 shares of the biotechnology company’s stock worth $195,822,000 after buying an additional 52,699 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Veracyte by 27.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,323 shares of the biotechnology company’s stock valued at $201,000 after purchasing an additional 1,571 shares during the period.

Changes in Analyst Ratings

VCYT has been the subject of a number of research analyst reports. Needham & Company LLC boosted their price target on Veracyte from $31.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Morgan Stanley boosted their price objective on shares of Veracyte from $21.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.25, according to data from MarketBeat.

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Veracyte stock down 2.4%

Shares of NASDAQ:VCYT opened at $32.97 on Friday. The stock has a market cap of $2.52 billion, a PE ratio of -35.07 and a beta of 1.66. The company’s fifty day moving average is $30.44 and its 200 day moving average is $24.56. Veracyte, Inc. it has a 52 week low of $18.61 and a 52 week high of $35.51.

Veracyte (NASDAQ:VCYT – Get Your Free Report ) last released its earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.10. Veracyte had a positive return on equity of 1.52% and a negative net margin of 13.52%. The company had revenue of $114.43 million during the quarter, compared to analyst estimates of $100.27 million. In the same quarter last year, the company posted EPS of ($0.12). Veracyte’s revenue for the quarter was up 26.7% year over year. Sell-side analysts anticipate that Veracyte, Inc. will record 0.16 EPS for the current year.

Insider activity at Veracyte

In other Veracyte news, Director Karin Eastham sold 7,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $25.00, for a total value of $187,500.00. Following the sale, the director now owns 33,228 shares of the company’s stock, valued at approximately $830,700. The sale was disclosed in a legal filing with the SEC, which is available via this hyperlink. In other Veracyte news, Director Evan/Fa Jones sold 5,173 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $35.23, for a total transaction of $182,244.79. Following the transaction, the director now directly owns 34,343 shares of the company’s stock, valued at approximately $1,209,903.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. Also, Director Karin Eastham sold 7,500 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $25.00, for a total transaction of $187,500.00. Following the completion of the sale, the director now directly owns 33,228 shares of the company’s stock, valued at $830,700. The disclosure for this sale can be found here. Insiders have sold 45,918 shares of company stock worth $1,399,541 over the last three months. 1.30% of the stock is owned by insiders.

Veracyte Company Profile

(Free Report)

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers the Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher prostate biopsy and radical prostatectomy for the diagnosis of prostate cancer; Prosigna Breast Cancer Assay for the diagnosis of breast cancer; Percepta Nasal Swab Test for the diagnosis of lung cancer; and the Envisia Genomic Classifier for the diagnosis of interstitial lung disease, including idiopathic pulmonary fibrosis.