Campbell & CO Investment Adviser LLC Acquires 97,296 Shares of Veracyte, Inc. $VCYT

Campbell & CO Investment Adviser LLC raised its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 127.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 173,638 shares of the biotechnology company’s stock after purchasing an additional 97,296 shares during the quarter. Campbell & CO Investment Adviser LLC owned 0.22% of Veracyte worth $4,693,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in Veracyte by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 248,224 shares of the biotechnology company’s stock worth $7,360,000 after purchasing an additional 4,772 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Veracyte by 9.5% in the 1st quarter. Principal Financial Group Inc. now owns 35,663 shares of the biotechnology company’s stock worth $1,057,000 after purchasing an additional 3,103 shares during the period. AlphaQuest LLC boosted its holdings in shares of Veracyte by 1,279.9% in the second quarter. AlphaQuest LLC now owns 8,031 shares of the biotechnology company’s stock worth $217,000 after buying an additional 7,449 shares during the last quarter. Strs Ohio bought a new stake in Veracyte during the first quarter valued at approximately $848,000. Finally, Victory Capital Management Inc. increased its holdings in Veracyte by 73.0% during the first quarter. Victory Capital Management Inc. now owns 97,786 shares of the biotechnology company’s stock valued at $2,899,000 after buying an additional 41,248 shares during the last quarter.

Veracyte Stock Performance

Shares of NASDAQ:VCYT opened at $41.70 on Friday. The firm has a fifty day moving average price of $34.59 and a 200 day moving average price of $30.09. Veracyte, Inc. has a fifty-two week low of $22.61 and a fifty-two week high of $47.32. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 126.37 and a beta of 2.16.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Tuesday, November 4th. The biotechnology company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.19. The firm had revenue of $131.87 million for the quarter, compared to analysts’ expectations of $124.62 million. Veracyte had a return on equity of 6.07% and a net margin of 5.50%.The business’s revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 earnings per share. Veracyte has set its FY 2025 guidance at EPS. As a group, research analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on VCYT. Wall Street Zen upgraded shares of Veracyte from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Zacks Research upgraded Veracyte from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. UBS Group lifted their target price on Veracyte from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley set a $28.00 price target on Veracyte and gave the company an “underweight” rating in a report on Friday, August 8th. Finally, Weiss Ratings upgraded Veracyte from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.78.

Insiders Place Their Bets

In other news, Director Evan/ Fa Jones sold 43,196 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $45.06, for a total value of $1,946,411.76. Following the sale, the director directly owned 30,468 shares in the company, valued at $1,372,888.08. The trade was a 58.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Rebecca Chambers sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $41.00, for a total value of $287,000.00. Following the sale, the chief financial officer directly owned 126,158 shares in the company, valued at $5,172,478. The trade was a 5.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 84,635 shares of company stock worth $3,490,004. Insiders own 1.40% of the company’s stock.

About Veracyte

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.