Eventide Asset Management LLC Has $23.08 Million Position in Veracyte, Inc. (NASDAQ:VCYT)

Eventide Asset Management LLC increased its stake in Veracyte, Inc. (NASDAQ:VCYT) by 20.2% in the 3rd quarter, Holdings Channel reports. The firm owned 677,883 shares of the biotechnology company’s stock after purchasing an additional 113,883 shares during the period. Eventide Asset Management LLC’s holdings in Veracyte were worth $23,075,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in Veracyte by 2,331.6% in 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 last quarter. CWM LLC lifted its holdings in Veracyte by 168.3% in the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 951 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Veracyte in the 2nd quarter worth approximately $58,000. Signature Resources Capital Management LLC acquired a new stake in Veracyte in the 2nd quarter worth approximately $83,000. Finally, nVerses Capital LLC acquired a new position in shares of Veracyte during the second quarter worth approximately $85,000.

Veracyte Stock Performance

VCYT opened at $42.89 on Friday. Veracyte, Inc. has a 1 year low of $18.61 and a 1 year high of $44.16. The stock’s 50 day simple moving average is $35.54 and its 200-day simple moving average is $28.85.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results 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 analysts’ expectations of $109.81 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The business’s revenue was up 28.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) earnings per share. As a group, equities analysts expect that Veracyte, Inc. will post 0.32 earnings per share for the current year.

Insider Buying and Selling

In related news, insider John Leite sold 5,479 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 76,174 shares of the company’s stock, valued at $2,268,461.72. This trade represents a 6.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 sale, the director now owns 34,343 shares in the company, valued at $1,209,903.89. The trade was a 13.09 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on VCYT. Needham & Company LLC upped their price target on Veracyte from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Morgan Stanley upped their price target on Veracyte from $26.00 to $28.00 and gave the stock an “underweight” rating in a report on Monday, November 18th. Leerink Partners upped their price target on Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Wolfe Research began coverage on Veracyte in a report on Friday, November 15th. They set an “outperform” rating and a $50.00 price target for the company. Finally, The Goldman Sachs Group upped their price target on Veracyte from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.25.

Veracyte 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.