Gabelli Funds LLC bought a new stake in Veracyte Inc (NASDAQ:VCYT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 100,000 shares of the biotechnology company’s stock, valued at approximately $955,000. Gabelli Funds LLC owned 0.25% of Veracyte at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ARK Investment Management LLC grew its position in Veracyte by 33.8% during the 2nd quarter. ARK Investment Management LLC now owns 3,760,659 shares of the biotechnology company’s stock worth $35,125,000 after purchasing an additional 949,365 shares during the period. Versant Venture Management LLC acquired a new stake in shares of Veracyte during the 3rd quarter valued at about $34,535,000. Cannell Capital LLC grew its position in shares of Veracyte by 17.1% during the 2nd quarter. Cannell Capital LLC now owns 2,412,344 shares of the biotechnology company’s stock valued at $22,531,000 after acquiring an additional 353,111 shares during the period. BlackRock Inc. grew its position in shares of Veracyte by 15.4% during the 2nd quarter. BlackRock Inc. now owns 2,088,336 shares of the biotechnology company’s stock valued at $19,505,000 after acquiring an additional 278,240 shares during the period. Finally, First Light Asset Management LLC grew its position in shares of Veracyte by 3.8% during the 2nd quarter. First Light Asset Management LLC now owns 881,983 shares of the biotechnology company’s stock valued at $8,238,000 after acquiring an additional 32,417 shares during the period. 86.73% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on VCYT shares. BidaskClub lowered shares of Veracyte from a “buy” rating to a “hold” rating in a research note on Thursday, September 20th. Zacks Investment Research raised shares of Veracyte from a “hold” rating to a “strong-buy” rating and set a $13.00 price target on the stock in a research note on Thursday, November 1st. Janney Montgomery Scott lowered shares of Veracyte from a “buy” rating to a “neutral” rating and set a $12.30 target price on the stock. in a research note on Thursday, November 29th. William Blair reissued an “outperform” rating on shares of Veracyte in a research note on Tuesday, October 30th. Finally, ValuEngine raised shares of Veracyte from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 12th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $12.33.

VCYT traded down $0.26 during trading on Friday, reaching $11.91. The company’s stock had a trading volume of 340,934 shares, compared to its average volume of 330,775. The firm has a market capitalization of $493.36 million, a price-to-earnings ratio of -13.09 and a beta of 0.69. The company has a debt-to-equity ratio of 0.32, a current ratio of 9.14 and a quick ratio of 8.81. Veracyte Inc has a 1 year low of $5.23 and a 1 year high of $15.50.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Monday, October 29th. The biotechnology company reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.13. The firm had revenue of $23.47 million for the quarter, compared to analyst estimates of $21.52 million. Veracyte had a negative net margin of 33.00% and a negative return on equity of 65.73%. On average, equities analysts anticipate that Veracyte Inc will post -0.69 earnings per share for the current fiscal year.

In related news, insider Christopher M. Hall sold 40,000 shares of Veracyte stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $13.51, for a total value of $540,400.00. Following the completion of the sale, the insider now owns 35,955 shares in the company, valued at approximately $485,752.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Bonnie H. Anderson sold 23,305 shares of Veracyte stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $13.42, for a total transaction of $312,753.10. Following the completion of the sale, the chairman now owns 75,846 shares of the company’s stock, valued at approximately $1,017,853.32. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by insiders.

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Veracyte Profile

Veracyte, Inc operates as a genomic diagnostics company in the United States. The company uses genomic technology to resolve diagnostic uncertainty. It offers Afirma Thyroid FNA Analysis solution; cytopathology testing services; and the Afirma Malignancy Classifiers to manage thyroid nodule patients.

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Institutional Ownership by Quarter for Veracyte (NASDAQ:VCYT)

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