Gilder Gagnon Howe & Co. LLC Sells 398,097 Shares of Veracyte Inc (NASDAQ:VCYT)

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Gilder Gagnon Howe & Co. LLC trimmed its position in Veracyte Inc (NASDAQ:VCYT) by 11.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,167,579 shares of the biotechnology company’s stock after selling 398,097 shares during the period. Gilder Gagnon Howe & Co. LLC owned about 6.26% of Veracyte worth $82,040,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Oppenheimer Asset Management Inc. grew its position in Veracyte by 2.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,520 shares of the biotechnology company’s stock worth $401,000 after purchasing an additional 369 shares in the last quarter. Strs Ohio lifted its stake in shares of Veracyte by 10.3% during the 2nd quarter. Strs Ohio now owns 4,300 shares of the biotechnology company’s stock valued at $111,000 after buying an additional 400 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Veracyte by 10.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,416 shares of the biotechnology company’s stock valued at $114,000 after buying an additional 400 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Veracyte by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 38,698 shares of the biotechnology company’s stock valued at $941,000 after buying an additional 450 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Veracyte by 11.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,617 shares of the biotechnology company’s stock valued at $171,000 after buying an additional 705 shares in the last quarter.

In other Veracyte news, CFO Keith Kennedy sold 86,424 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $28.20, for a total transaction of $2,437,156.80. Following the completion of the sale, the chief financial officer now directly owns 158,398 shares in the company, valued at approximately $4,466,823.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Giulia C. Kennedy sold 16,738 shares of the firm’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $29.66, for a total transaction of $496,449.08. Following the sale, the insider now owns 93,985 shares of the company’s stock, valued at $2,787,595.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 299,592 shares of company stock valued at $9,253,895. 8.30% of the stock is owned by company insiders.

A number of brokerages recently commented on VCYT. SVB Leerink upped their price target on shares of Veracyte from $32.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Lake Street Capital increased their price target on shares of Veracyte from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Needham & Company LLC increased their price target on shares of Veracyte from $30.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, July 31st. BidaskClub raised shares of Veracyte from a “hold” rating to a “buy” rating in a report on Thursday, July 9th. Finally, Zacks Investment Research lowered shares of Veracyte from a “hold” rating to a “sell” rating in a report on Thursday, August 6th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Veracyte has a consensus rating of “Buy” and an average target price of $35.75.

VCYT traded down $0.86 during trading on Friday, hitting $31.73. 838,491 shares of the stock traded hands, compared to its average volume of 495,718. The firm has a market capitalization of $1.60 billion, a P/E ratio of -50.37 and a beta of 0.78. Veracyte Inc has a 12-month low of $13.90 and a 12-month high of $36.42. The firm has a 50-day moving average of $32.83 and a 200 day moving average of $26.65.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Thursday, July 30th. The biotechnology company reported ($0.22) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.22). The business had revenue of $20.70 million during the quarter, compared to analyst estimates of $17.56 million. Veracyte had a negative net margin of 27.49% and a negative return on equity of 13.35%. As a group, equities research analysts expect that Veracyte Inc will post -0.72 EPS for the current fiscal year.

Veracyte Company Profile

Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.

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Institutional Ownership by Quarter for Veracyte (NASDAQ:VCYT)

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