State of New Jersey Common Pension Fund D Has $2.09 Million Position in Veracyte, Inc. (NASDAQ:VCYT)

State of New Jersey Common Pension Fund D decreased its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 31.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,354 shares of the biotechnology company’s stock after selling 28,105 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.08% of Veracyte worth $2,088,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Axxcess Wealth Management LLC acquired a new position in shares of Veracyte in the 3rd quarter worth approximately $263,000. Quantum Private Wealth LLC bought a new position in shares of Veracyte during the third quarter valued at $226,000. QRG Capital Management Inc. boosted its stake in shares of Veracyte by 4.2% in the 3rd quarter. QRG Capital Management Inc. now owns 134,816 shares of the biotechnology company’s stock valued at $4,589,000 after purchasing an additional 5,400 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Veracyte by 172.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 170,834 shares of the biotechnology company’s stock valued at $5,815,000 after purchasing an additional 108,148 shares during the last quarter. Finally, Interchange Capital Partners LLC bought a new stake in Veracyte during the third quarter worth about $214,000.

Veracyte Trading Down 3.0 %

Shares of VCYT opened at $35.94 on Friday. The stock has a market cap of $2.79 billion, a P/E ratio of -239.60 and a beta of 1.67. The stock’s 50-day moving average price is $33.92 and its two-hundred day moving average price is $27.50. Veracyte, Inc. has a 1 year low of $18.61 and a 1 year high of $41.43.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.03 by $0.16. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The business had revenue of $115.86 million for the quarter, compared to the consensus estimate of $109.81 million. During the same quarter last year, the business posted ($0.03) EPS. The firm’s revenue was up 28.6% compared to the same quarter last year. As a group, equities analysts forecast that Veracyte, Inc. will post 0.16 EPS for the current year.

Insider Activity at Veracyte

In related news, Director Evan/ Fa Jones sold 5,173 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $35.23, for a total value of $182,244.79. Following the completion of the transaction, the director now directly owns 34,343 shares of the company’s stock, valued at approximately $1,209,903.89. This represents a 13.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Leite sold 5,479 shares of Veracyte stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total value of $163,164.62. Following the completion of the sale, the insider now directly owns 76,174 shares in the company, valued at $2,268,461.72. This represents a 6.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. The Goldman Sachs Group boosted their target price on Veracyte from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Scotiabank raised their target price on Veracyte from $40.00 to $44.00 and gave the company a “sector outperform” rating in a research note on Friday, November 8th. Leerink Partners upped their price target on shares of Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Morgan Stanley increased their price objective on shares of Veracyte from $21.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, August 12th. Finally, Wolfe Research started coverage on shares of Veracyte in a research note on Friday. They issued an “outperform” rating and a $50.00 target price for the company. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Veracyte Profile

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.