13,572 Shares in Veracyte, Inc. $VCYT Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co acquired a new position in Veracyte, Inc. (NASDAQ:VCYT) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 13,572 shares of the biotechnology company’s stock, valued at approximately $367,000.

Several other institutional investors also recently made changes to their positions in VCYT. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Veracyte during the 2nd quarter worth $25,000. Headlands Technologies LLC purchased a new stake in Veracyte during the first quarter worth about $48,000. Covestor Ltd grew its position in Veracyte by 23,936.4% during the first quarter. Covestor Ltd now owns 2,644 shares of the biotechnology company’s stock worth $78,000 after buying an additional 2,633 shares during the period. AlphaQuest LLC increased its holdings in Veracyte by 1,279.9% in the second quarter. AlphaQuest LLC now owns 8,031 shares of the biotechnology company’s stock valued at $217,000 after buying an additional 7,449 shares in the last quarter. Finally, AXQ Capital LP acquired a new stake in shares of Veracyte during the 2nd quarter valued at approximately $245,000.

Insider Buying and Selling

In other Veracyte news, Director Jens Holstein sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $42.36, for a total transaction of $423,600.00. Following the sale, the director directly owned 27,199 shares of the company’s stock, valued at $1,152,149.64. This trade represents a 26.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Phillip G. Febbo sold 8,349 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $36.02, for a total transaction of $300,730.98. Following the completion of the transaction, the insider directly owned 92,441 shares of the company’s stock, valued at approximately $3,329,724.82. This represents a 8.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 98,549 shares of company stock worth $4,109,580 in the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on VCYT shares. Wall Street Zen upgraded Veracyte from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 16th. Needham & Company LLC boosted their target price on Veracyte from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Morgan Stanley raised their price target on Veracyte from $28.00 to $40.00 and gave the company an “underweight” rating in a research report on Tuesday, November 11th. Guggenheim lifted their price target on Veracyte from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, UBS Group boosted their price objective on shares of Veracyte from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Veracyte presently has a consensus rating of “Moderate Buy” and an average target price of $43.38.

Veracyte Stock Performance

Veracyte stock opened at $47.34 on Friday. Veracyte, Inc. has a fifty-two week low of $22.61 and a fifty-two week high of $50.71. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 143.44 and a beta of 2.16. The stock has a fifty day moving average of $38.02 and a two-hundred day moving average of $31.39.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.19. The business had revenue of $131.87 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.33 earnings per share. Veracyte has set its FY 2025 guidance at EPS. On average, analysts forecast that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.

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.