ExodusPoint Capital Management LP Decreases Holdings in Veracyte, Inc. (NASDAQ:VCYT)

ExodusPoint Capital Management LP reduced its stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 84.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,840 shares of the biotechnology company's stock after selling 619,608 shares during the quarter. ExodusPoint Capital Management LP owned about 0.15% of Veracyte worth $4,548,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Artisan Partners Limited Partnership increased its position in shares of Veracyte by 31.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 6,599,264 shares of the biotechnology company's stock worth $261,331,000 after purchasing an additional 1,576,432 shares in the last quarter. Vanguard Group Inc. increased its position in Veracyte by 6.0% during the fourth 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 period. Jennison Associates LLC increased its position in Veracyte by 116.3% during the fourth quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company's stock worth $33,017,000 after buying an additional 448,251 shares during the period. Loomis Sayles & Co. L P purchased a new stake in Veracyte in the fourth quarter valued at approximately $16,224,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Veracyte by 134.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 635,110 shares of the biotechnology company's stock valued at $25,150,000 after acquiring an additional 363,862 shares during the period.

Veracyte Price Performance

NASDAQ VCYT traded up $1.55 on Friday, hitting $31.80. 1,002,547 shares of the company's stock were exchanged, compared to its average volume of 860,121. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -212.00 and a beta of 2.03. The firm's 50-day moving average price is $34.26 and its two-hundred day moving average price is $37.45. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two 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 for the quarter, topping analysts' consensus estimates of $0.29 by $0.07. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The firm had revenue of $118.63 million for the quarter, compared to analyst estimates of $110.73 million. During the same quarter in the prior year, the company posted ($0.39) earnings per share. On average, research analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. StockNews.com downgraded shares of Veracyte from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Craig Hallum started coverage on shares of Veracyte in a report on Thursday, March 20th. They issued a "buy" rating and a $45.00 target price for the company. Needham & Company LLC reissued a "buy" rating and set a $51.00 price target on shares of Veracyte in a report on Tuesday, February 25th. Guggenheim reduced their price objective on Veracyte from $45.00 to $37.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, UBS Group increased their price objective on Veracyte from $46.00 to $49.00 and gave the stock a "buy" rating in a research 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 assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.60.

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.