Harbor Capital Advisors Inc. Buys 108,148 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Harbor Capital Advisors Inc. lifted its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 172.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 170,834 shares of the biotechnology company’s stock after acquiring an additional 108,148 shares during the period. Harbor Capital Advisors Inc.’s holdings in Veracyte were worth $5,815,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Veracyte by 3.7% during the first quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company’s stock worth $163,649,000 after purchasing an additional 266,660 shares during the last quarter. Bamco Inc. NY lifted its position in Veracyte by 46.3% in the 1st quarter. Bamco Inc. NY now owns 1,115,806 shares of the biotechnology company’s stock worth $24,726,000 after buying an additional 353,000 shares during the last quarter. Nordea Investment Management AB boosted its stake in Veracyte by 232.3% in the first quarter. Nordea Investment Management AB now owns 272,176 shares of the biotechnology company’s stock worth $6,050,000 after buying an additional 190,262 shares in the last quarter. Sei Investments Co. grew its position in Veracyte by 21.2% during the first quarter. Sei Investments Co. now owns 142,604 shares of the biotechnology company’s stock valued at $3,160,000 after acquiring an additional 24,945 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Veracyte by 9.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 9,325 shares of the biotechnology company’s stock worth $207,000 after acquiring an additional 778 shares in the last quarter.

Wall Street Analysts Forecast Growth

VCYT has been the topic of several recent research reports. Leerink Partners increased their target price on shares of Veracyte from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Guggenheim began coverage on Veracyte in a report on Thursday, October 10th. They issued a “buy” rating and a $40.00 price objective on the stock. Needham & Company LLC increased their target price on Veracyte from $31.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Morgan Stanley lifted their price target on Veracyte from $21.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, August 12th. Finally, UBS Group started coverage on Veracyte in a research note on Wednesday, October 16th. They set a “buy” rating and a $43.00 price objective for the company. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Veracyte currently has an average rating of “Moderate Buy” and a consensus price target of $35.67.

Insider Activity

In other news, Director Jens Holstein sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $29.00, for a total transaction of $145,000.00. Following the completion of the transaction, the director now directly owns 27,878 shares of the company’s stock, valued at $808,462. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Jens Holstein sold 5,000 shares of Veracyte stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $29.00, for a total transaction of $145,000.00. Following the transaction, the director now owns 27,878 shares in the company, valued at $808,462. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Leite sold 5,479 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total transaction of $163,164.62. Following the sale, the insider now directly owns 76,174 shares of the company’s stock, valued at approximately $2,268,461.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,141 shares of company stock valued at $1,180,116 over the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Veracyte Trading Up 1.7 %

Shares of NASDAQ:VCYT opened at $34.31 on Monday. The stock has a fifty day simple moving average of $32.83 and a two-hundred day simple moving average of $26.49. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $35.51. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -45.75 and a beta of 1.67.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.10. Veracyte had a positive return on equity of 1.52% and a negative net margin of 13.52%. The firm had revenue of $114.43 million during the quarter, compared to analyst estimates of $100.27 million. During the same quarter in the previous year, the firm earned ($0.12) EPS. Veracyte’s quarterly revenue was up 26.7% compared to the same quarter last year. As a group, equities research analysts predict that Veracyte, Inc. will post 0.16 EPS for the current year.

About Veracyte

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.