Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its position in Veracyte, Inc. (NASDAQ:VCYT) by 1.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 208,970 shares of the biotechnology company’s stock after selling 3,443 shares during the period. Franklin Resources Inc.’s holdings in Veracyte were worth $7,090,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. increased its position in Veracyte by 2,331.6% during the second quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock worth $31,000 after buying an additional 1,329 shares during the period. Castleview Partners LLC acquired a new position in shares of Veracyte in the 3rd quarter valued at $87,000. Values First Advisors Inc. acquired a new position in shares of Veracyte in the 3rd quarter valued at $91,000. KBC Group NV raised its position in Veracyte by 13.7% in the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 323 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Veracyte during the 2nd quarter worth $58,000.

Insiders Place Their Bets

In related news, CFO Rebecca Chambers sold 7,000 shares of Veracyte stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $43.23, for a total transaction of $302,610.00. Following the completion of the transaction, the chief financial officer now directly owns 114,037 shares of the company’s stock, valued at approximately $4,929,819.51. The trade was a 5.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 completion of the sale, the chief accounting officer now directly owns 42,313 shares in the company, valued at $1,814,804.57. This trade represents a 10.63 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,038 shares of company stock worth $605,297. 1.30% of the stock is owned by company insiders.

Veracyte Price Performance

Veracyte stock opened at $40.89 on Monday. The stock’s 50 day moving average price is $38.50 and its 200 day moving average price is $31.31. Veracyte, Inc. has a 1-year low of $18.61 and a 1-year high of $46.00. The company has a market cap of $3.17 billion, a PE ratio of -272.60 and a beta of 1.69.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.03 by $0.16. The company had revenue of $115.86 million for the quarter, compared to analyst estimates of $109.81 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The business’s revenue was up 28.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) EPS. On average, equities research analysts anticipate that Veracyte, Inc. will post 0.38 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on VCYT. The Goldman Sachs Group restated a “neutral” rating and issued a $37.00 price objective (down from $38.00) on shares of Veracyte in a research note on Thursday, December 5th. Leerink Partners boosted their price target on Veracyte from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Scotiabank upped their price objective on Veracyte from $40.00 to $44.00 and gave the company a “sector outperform” rating in a research note on Friday, November 8th. UBS Group lifted their target price on Veracyte from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC upped their price target on Veracyte from $37.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $41.13.

Veracyte Company 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.