Dimensional Fund Advisors LP Lowers Stake in Veracyte, Inc. (NASDAQ:VCYT)

Dimensional Fund Advisors LP cut its stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,882,734 shares of the biotechnology company's stock after selling 151,056 shares during the quarter. Dimensional Fund Advisors LP owned 3.72% of Veracyte worth $114,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of VCYT. Jones Financial Companies Lllp lifted its holdings in shares of Veracyte by 49.7% during the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock worth $28,000 after acquiring an additional 237 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Veracyte by 1.2% during the 4th quarter. Arizona State Retirement System now owns 22,276 shares of the biotechnology company's stock valued at $882,000 after buying an additional 264 shares in the last quarter. Synovus Financial Corp lifted its position in Veracyte by 1.2% in the 4th quarter. Synovus Financial Corp now owns 23,132 shares of the biotechnology company's stock worth $916,000 after buying an additional 267 shares during the last quarter. HighTower Advisors LLC boosted its stake in Veracyte by 1.9% in the fourth quarter. HighTower Advisors LLC now owns 16,630 shares of the biotechnology company's stock worth $659,000 after buying an additional 305 shares in the last quarter. Finally, Principal Securities Inc. grew its position in Veracyte by 34.1% during 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 last quarter.

Veracyte Stock Performance

Shares of Veracyte stock traded up $0.51 during midday trading on Friday, reaching $30.22. 467,657 shares of the company's stock traded hands, compared to its average volume of 865,473. The stock has a 50 day moving average of $31.48 and a 200-day moving average of $37.22. Veracyte, Inc. has a 12 month low of $19.71 and a 12 month high of $47.32. The company has a market cap of $2.36 billion, a PE ratio of -201.15 and a beta of 2.03.

Veracyte (NASDAQ:VCYT - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. The business had revenue of $118.63 million during the quarter, compared to analyst estimates 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 period in the prior year, the business earned ($0.39) EPS. On average, equities analysts anticipate that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. StockNews.com lowered shares of Veracyte from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. UBS Group upped their price target on shares of Veracyte from $46.00 to $49.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Guggenheim decreased their price objective on Veracyte from $45.00 to $37.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Craig Hallum assumed coverage on Veracyte in a report on Thursday, March 20th. They set a "buy" rating and a $45.00 target price for the company. Finally, Stephens reaffirmed an "overweight" rating and issued a $45.00 price target on shares of Veracyte in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $42.60.

About Veracyte

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.