Bridgeway Capital Management LLC Decreases Stake in Veracyte, Inc. (NASDAQ:VCYT)

Bridgeway Capital Management LLC cut its position in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 15.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 169,400 shares of the biotechnology company's stock after selling 30,000 shares during the period. Bridgeway Capital Management LLC owned approximately 0.22% of Veracyte worth $6,708,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp grew 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 worth $28,000 after purchasing an additional 237 shares during the period. US Bancorp DE increased its position in Veracyte by 57.4% during the fourth quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company's stock valued at $70,000 after acquiring an additional 647 shares during the last quarter. Principal Securities Inc. lifted its holdings in 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 acquiring an additional 485 shares during the period. Venturi Wealth Management LLC bought a new position in Veracyte in the fourth quarter valued at about $91,000. Finally, Sterling Capital Management LLC boosted its position in Veracyte by 810.2% in 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 last quarter.

Analyst Upgrades and Downgrades

Several analysts have issued reports on VCYT shares. Craig Hallum assumed coverage on Veracyte in a report on Thursday, March 20th. They set a "buy" rating and a $45.00 price target for the company. UBS Group lowered their price target on shares of Veracyte from $49.00 to $42.00 and set a "buy" rating on the stock in a report on Thursday. StockNews.com cut shares of Veracyte from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Guggenheim decreased their price target on Veracyte from $45.00 to $37.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Needham & Company LLC dropped their target price on shares of Veracyte from $51.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday. One investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $40.90.

Veracyte Stock Up 1.5%

VCYT traded up $0.45 on Monday, reaching $30.16. 212,515 shares of the company traded hands, compared to its average volume of 882,170. Veracyte, Inc. has a one year low of $19.73 and a one year high of $47.32. The company has a market cap of $2.36 billion, a P/E ratio of -201.10 and a beta of 2.14. The firm has a fifty day simple moving average of $31.05 and a two-hundred day simple moving average of $37.15.

Veracyte (NASDAQ:VCYT - Get Free Report) last announced its earnings results 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. The business had revenue of $118.63 million for the quarter, compared to analysts' expectations of $110.73 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. During the same quarter last year, the firm earned ($0.39) EPS. On average, equities analysts forecast that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Veracyte 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.