Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Axa S.A.

AXA S.A. lessened its position in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 49.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 63,103 shares of the biotechnology company's stock after selling 61,999 shares during the quarter. AXA S.A. owned about 0.08% of Veracyte worth $2,499,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its position in Veracyte by 49.7% in the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 237 shares during the period. US Bancorp DE grew its stake in shares of Veracyte by 57.4% in the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company's stock valued at $70,000 after purchasing an additional 647 shares during the last quarter. Principal Securities Inc. increased its holdings in shares of Veracyte by 34.1% in the fourth quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company's stock valued at $76,000 after purchasing an additional 485 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of Veracyte during the fourth quarter worth $91,000. Finally, Sterling Capital Management LLC lifted its holdings in shares of Veracyte by 810.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,421 shares of the biotechnology company's stock worth $96,000 after purchasing an additional 2,155 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. StockNews.com cut shares of Veracyte from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Needham & Company LLC reduced their price objective on shares of Veracyte from $51.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday. UBS Group cut their target price on Veracyte from $49.00 to $42.00 and set a "buy" rating for the company in a research note on Thursday. Guggenheim reduced their price target on Veracyte from $45.00 to $37.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Finally, Stephens reaffirmed an "overweight" rating and set a $45.00 price objective on shares of Veracyte in a report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Veracyte has an average rating of "Moderate Buy" and a consensus price target of $40.90.

Veracyte Stock Down 5.9 %

Shares of VCYT traded down $1.84 during mid-day trading on Friday, reaching $29.37. 1,498,608 shares of the company's stock were exchanged, compared to its average volume of 884,792. The company has a 50-day simple moving average of $31.05 and a two-hundred day simple moving average of $37.12. The company has a market cap of $2.30 billion, a price-to-earnings ratio of -195.80 and a beta of 2.14. Veracyte, Inc. has a 52-week low of $19.73 and a 52-week high of $47.32.

Veracyte (NASDAQ:VCYT - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The business had revenue of $118.63 million for the quarter, compared to the consensus estimate of $110.73 million. During the same quarter in the prior year, the firm posted ($0.39) earnings per share. As a group, equities research analysts predict that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.

Veracyte Company Profile

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm's portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.