Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC lessened its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 14.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,203,951 shares of the biotechnology company’s stock after selling 716,794 shares during the period. Veracyte comprises about 1.4% of ARK Investment Management LLC’s portfolio, making the stock its 22nd largest holding. ARK Investment Management LLC owned 5.42% of Veracyte worth $166,476,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of VCYT. Principal Securities Inc. lifted its position in shares of Veracyte by 34.1% during the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock valued at $76,000 after acquiring an additional 485 shares during the last quarter. KBC Group NV lifted its position in shares of Veracyte by 13.7% during the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock valued at $91,000 after acquiring an additional 323 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Veracyte during the 4th quarter valued at $91,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Veracyte by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,778 shares of the biotechnology company’s stock valued at $94,000 after acquiring an additional 496 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Veracyte by 100.6% during the 3rd quarter. Blue Trust Inc. now owns 2,781 shares of the biotechnology company’s stock valued at $95,000 after acquiring an additional 1,395 shares during the last quarter.

Veracyte Trading Down 15.0 %

NASDAQ VCYT opened at $33.46 on Wednesday. Veracyte, Inc. has a 1-year low of $18.61 and a 1-year high of $47.32. The company has a market capitalization of $2.59 billion, a PE ratio of -223.07 and a beta of 1.71. The firm’s fifty day simple moving average is $41.88 and its 200-day simple moving average is $37.60.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The business had revenue of $118.63 million for the quarter, compared to the consensus estimate of $110.73 million. During the same period in the prior year, the business posted ($0.39) earnings per share. As a group, analysts predict that Veracyte, Inc. will post 0.68 EPS for the current year.

Wall Street Analysts Forecast Growth

VCYT has been the subject of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $51.00 target price on shares of Veracyte in a report on Tuesday. Guggenheim restated a “buy” rating and issued a $45.00 target price on shares of Veracyte in a report on Tuesday. Scotiabank increased their target price on Veracyte from $40.00 to $44.00 and gave the company a “sector outperform” rating in a report on Friday, November 8th. Wolfe Research initiated coverage on Veracyte in a report on Friday, November 15th. They issued an “outperform” rating and a $50.00 target price for the company. Finally, UBS Group increased their target price on Veracyte from $46.00 to $49.00 and gave the company a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Veracyte currently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Insiders Place Their Bets

In other Veracyte news, Director Karin Eastham sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total transaction of $403,000.00. Following the transaction, the director now directly owns 18,497 shares of the company’s stock, valued at $745,429.10. This represents a 35.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Jonathan Wygant sold 956 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $43.36, for a total transaction of $41,452.16. Following the transaction, the chief accounting officer now directly owns 40,270 shares in the company, valued at $1,746,107.20. The trade was a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,533 shares of company stock valued at $815,584 over the last three months. 1.30% of the stock is currently owned by insiders.

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.