Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its stake in Veracyte, Inc. (NASDAQ:VCYT) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 837,467 shares of the biotechnology company’s stock after selling 69,814 shares during the quarter. New York State Common Retirement Fund owned approximately 1.15% of Veracyte worth $23,039,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in VCYT. CWM LLC raised its holdings in shares of Veracyte by 533.0% in the third quarter. CWM LLC now owns 2,146 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 1,807 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Veracyte in the third quarter worth $390,000. Exchange Traded Concepts LLC raised its holdings in shares of Veracyte by 17.5% in the third quarter. Exchange Traded Concepts LLC now owns 80,419 shares of the biotechnology company’s stock worth $1,796,000 after acquiring an additional 11,966 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Veracyte in the third quarter worth $84,000. Finally, Handelsbanken Fonder AB raised its holdings in shares of Veracyte by 46.1% in the third quarter. Handelsbanken Fonder AB now owns 21,006 shares of the biotechnology company’s stock worth $469,000 after acquiring an additional 6,631 shares during the last quarter.

Insider Buying and Selling at Veracyte

In other Veracyte news, Director Karin Eastham sold 10,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $21.65, for a total transaction of $216,500.00. Following the completion of the sale, the director now owns 33,125 shares of the company’s stock, valued at $717,156.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is owned by company insiders.

Veracyte Trading Down 0.9 %

Veracyte stock opened at $19.31 on Friday. The stock has a fifty day moving average price of $21.60 and a 200 day moving average price of $23.86. Veracyte, Inc. has a 52 week low of $18.61 and a 52 week high of $30.52. The firm has a market capitalization of $1.45 billion, a P/E ratio of -18.75 and a beta of 1.62.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. Veracyte had a negative return on equity of 2.02% and a negative net margin of 20.61%. The firm had revenue of $98.20 million during the quarter, compared to the consensus estimate of $95.49 million. As a group, equities analysts predict that Veracyte, Inc. will post -0.29 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VCYT. Needham & Company LLC boosted their price target on Veracyte from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. The Goldman Sachs Group dropped their target price on Veracyte from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, April 15th. William Blair reiterated an “outperform” rating on shares of Veracyte in a research note on Friday, February 23rd. Finally, Morgan Stanley dropped their target price on Veracyte from $22.00 to $21.00 and set an “underweight” rating for the company in a research note on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

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.