Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its holdings in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 56.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,738 shares of the biotechnology company's stock after selling 55,684 shares during the quarter. BNP Paribas Financial Markets owned 0.06% of Veracyte worth $1,692,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp boosted its stake in shares of Veracyte by 49.7% in the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock valued at $28,000 after purchasing an additional 237 shares during the period. US Bancorp DE boosted its stake in shares of Veracyte by 57.4% in the fourth 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 period. Principal Securities Inc. boosted its stake 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 purchased a new position in shares of Veracyte in the fourth quarter valued at approximately $91,000. Finally, Sterling Capital Management LLC boosted its stake in shares of Veracyte by 810.2% in the fourth quarter. Sterling Capital Management LLC now owns 2,421 shares of the biotechnology company's stock valued at $96,000 after purchasing an additional 2,155 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on VCYT shares. Craig Hallum started coverage on shares of Veracyte in a research note on Thursday, March 20th. They issued a "buy" rating and a $45.00 price objective for the company. Wall Street Zen downgraded shares of Veracyte from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th. UBS Group decreased their price target on shares of Veracyte from $49.00 to $42.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Guggenheim decreased their price target on shares of Veracyte from $45.00 to $37.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Finally, Stephens reiterated 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 issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.90.

Veracyte Price Performance

Shares of NASDAQ:VCYT traded down $0.24 during trading on Friday, hitting $27.16. 612,390 shares of the company were exchanged, compared to its average volume of 892,894. The firm's 50 day moving average price is $30.57 and its 200-day moving average price is $36.77. The stock has a market capitalization of $2.13 billion, a P/E ratio of -181.07 and a beta of 2.14. Veracyte, Inc. has a 12-month low of $19.73 and a 12-month high of $47.32.

Veracyte (NASDAQ:VCYT - Get Free Report) last announced its earnings results on Monday, February 24th. The biotechnology company reported $0.36 EPS for the quarter, beating analysts' consensus estimates 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 negative net margin of 2.18% and a positive return on equity of 3.02%. During the same period in the previous year, the company posted ($0.39) EPS. As a group, equities research analysts anticipate that Veracyte, Inc. will post 0.68 EPS 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.