Principal Financial Group Inc. boosted its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT – Free Report) by 2.4% in the first quarter, Holdings Channel.com reports. The fund owned 476,686 shares of the biotechnology company’s stock after acquiring an additional 11,302 shares during the quarter. Principal Financial Group Inc.’s holdings in Veracyte were worth $15,354,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in VCYT. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Veracyte in the fourth quarter valued at approximately $58,158,000. Squarepoint Ops LLC lifted its stake in Veracyte by 770.6% in the second quarter. Squarepoint Ops LLC now owns 897,387 shares of the biotechnology company’s stock worth $24,256,000 after acquiring an additional 794,307 shares during the period. Soleus Capital Management L.P. purchased a new stake in Veracyte in the second quarter worth about $19,338,000. Iron Triangle Partners LP grew its holdings in Veracyte by 102.1% during the 4th quarter. Iron Triangle Partners LP now owns 980,391 shares of the biotechnology company’s stock worth $41,274,000 after acquiring an additional 495,391 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Veracyte by 31.1% during the 2nd quarter. Bank of America Corp DE now owns 1,519,710 shares of the biotechnology company’s stock worth $41,078,000 after acquiring an additional 360,947 shares in the last quarter.
Insiders Place Their Bets
In other news, Director Robert S. Epstein sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $44.01, for a total value of $440,100.00. Following the completion of the sale, the director owned 52,446 shares of the company’s stock, valued at $2,308,148.46. This trade represents a 16.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Leite sold 13,975 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $50.07, for a total value of $699,728.25. Following the transaction, the insider owned 132,305 shares in the company, valued at approximately $6,624,511.35. This trade represents a 9.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 206,696 shares of company stock valued at $10,079,058. 1.60% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Check Out Our Latest Analysis on Veracyte
Veracyte Stock Performance
Shares of Veracyte stock opened at $57.88 on Friday. The company has a market capitalization of $4.62 billion, a PE ratio of 53.10 and a beta of 1.93. The company has a 50-day simple moving average of $52.27 and a two-hundred day simple moving average of $41.85. Veracyte, Inc. has a one year low of $22.92 and a one year high of $60.91.
Veracyte (NASDAQ:VCYT – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.18. The firm had revenue of $139.07 million for the quarter, compared to the consensus estimate of $130.36 million. Veracyte had a net margin of 16.25% and a return on equity of 9.07%. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 EPS. On average, equities analysts predict that Veracyte, Inc. will post 1.27 earnings per share for the current fiscal year.
Veracyte Profile
Veracyte, Inc is a genomic diagnostics company focused on improving diagnostic accuracy and patient care through advanced molecular testing. Founded in 2008 and headquartered in South San Francisco, California, the company develops and commercializes minimally invasive genomic tests that aid in the diagnosis of thyroid, lung and other diseases. Veracyte’s proprietary platform analyzes gene expression patterns in clinical samples to help physicians make more informed treatment decisions, reducing unnecessary surgeries and improving patient outcomes.
The company’s flagship product, the Afirma Genomic Sequencing Classifier, is designed to assess thyroid nodules with indeterminate cytology, helping clinicians distinguish benign from suspicious nodules.
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Want to see what other hedge funds are holding VCYT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veracyte, Inc. (NASDAQ:VCYT – Free Report).
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