Wellington Management Group LLP trimmed its holdings in Veracyte, Inc. (NASDAQ:VCYT – Free Report) by 11.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,274,160 shares of the biotechnology company’s stock after selling 284,125 shares during the period. Wellington Management Group LLP’s holdings in Veracyte were worth $133,561,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of VCYT. Allworth Financial LP purchased a new stake in shares of Veracyte during the second quarter worth $50,000. Empowered Funds LLC purchased a new position in shares of Veracyte in the fourth quarter valued at $42,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Veracyte in the second quarter valued at $62,000. Smartleaf Asset Management LLC raised its stake in shares of Veracyte by 159.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,104 shares of the biotechnology company’s stock valued at $47,000 after purchasing an additional 679 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Veracyte by 21.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,121 shares of the biotechnology company’s stock worth $66,000 after purchasing an additional 196 shares in the last quarter.
Insider Buying and Selling at Veracyte
In other Veracyte news, Director Karin Eastham sold 3,729 shares of Veracyte stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $52.89, for a total transaction of $197,226.81. Following the completion of the sale, the director directly owned 15,097 shares in the company, valued at $798,480.33. The trade was a 19.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Rebecca Chambers sold 3,561 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $49.73, for a total transaction of $177,088.53. Following the completion of the transaction, the chief financial officer directly owned 173,280 shares of the company’s stock, valued at approximately $8,617,214.40. This represents a 2.01% decrease in their position. 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. Insiders sold a total of 162,492 shares of company stock valued at $8,151,197 over the last quarter. Company insiders own 1.60% of the company’s stock.
Wall Street Analysts Forecast Growth
Read Our Latest Report on VCYT
Veracyte Stock Down 0.3%
NASDAQ:VCYT opened at $43.19 on Tuesday. The business’s 50-day moving average price is $51.72 and its two-hundred day moving average price is $42.94. Veracyte, Inc. has a twelve month low of $29.38 and a twelve month high of $60.91. The stock has a market cap of $3.47 billion, a P/E ratio of 30.63 and a beta of 1.95.
Veracyte (NASDAQ:VCYT – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The biotechnology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. The company had revenue of $150.32 million during the quarter, compared to analyst estimates of $144.59 million. Veracyte had a return on equity of 9.26% and a net margin of 20.37%.Veracyte’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.44 earnings per share. On average, equities research analysts expect that Veracyte, Inc. will post 1.32 EPS for the current fiscal year.
Veracyte Company 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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