Bessemer Group Inc. lowered its stake in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 66.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,625 shares of the biotechnology company's stock after selling 25,400 shares during the quarter. Bessemer Group Inc.'s holdings in Veracyte were worth $500,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Artisan Partners Limited Partnership increased its holdings in Veracyte by 31.4% during the 4th quarter. Artisan Partners Limited Partnership now owns 6,599,264 shares of the biotechnology company's stock valued at $261,331,000 after purchasing an additional 1,576,432 shares during the period. Vanguard Group Inc. grew its position in shares of Veracyte by 6.0% in the 4th quarter. Vanguard Group Inc. now owns 8,211,612 shares of the biotechnology company's stock worth $325,180,000 after buying an additional 463,098 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Veracyte by 116.3% during the fourth quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company's stock valued at $33,017,000 after buying an additional 448,251 shares during the period. Loomis Sayles & Co. L P bought a new position in shares of Veracyte during the fourth quarter valued at approximately $16,224,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Veracyte by 134.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 635,110 shares of the biotechnology company's stock worth $25,150,000 after acquiring an additional 363,862 shares during the period.
Wall Street Analysts Forecast Growth
Several research analysts have commented on VCYT shares. StockNews.com lowered shares of Veracyte from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. Needham & Company LLC restated a "buy" rating and issued a $51.00 price objective on shares of Veracyte in a report on Tuesday, February 25th. Stephens reiterated an "overweight" rating and set a $45.00 target price on shares of Veracyte in a report on Wednesday, March 26th. Guggenheim dropped their price target on Veracyte from $45.00 to $37.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Finally, UBS Group increased their price objective on Veracyte from $46.00 to $49.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.60.
Check Out Our Latest Analysis on VCYT
Veracyte Stock Performance
Shares of VCYT traded down $0.24 during trading hours on Monday, hitting $30.90. The company had a trading volume of 50,753 shares, compared to its average volume of 857,929. Veracyte, Inc. has a 52-week low of $19.09 and a 52-week high of $47.32. The firm has a fifty day moving average price of $33.15 and a 200-day moving average price of $37.41. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -205.70 and a beta of 2.03.
Veracyte (NASDAQ:VCYT - Get Free Report) last issued its earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. The firm had revenue of $118.63 million for the quarter, compared to the consensus estimate of $110.73 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. During the same quarter in the prior year, the firm posted ($0.39) earnings per share. Research analysts anticipate that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.
About Veracyte
(
Free Report)
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.
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