D. E. Shaw & Co. Inc. Cuts Holdings in Veracyte, Inc. (NASDAQ:VCYT)

D. E. Shaw & Co. Inc. lessened its stake in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 9.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 86,182 shares of the biotechnology company's stock after selling 8,848 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.11% of Veracyte worth $3,413,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its stake in shares of 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 acquiring an additional 237 shares during the last quarter. Arizona State Retirement System increased its position in Veracyte by 1.2% during the fourth quarter. Arizona State Retirement System now owns 22,276 shares of the biotechnology company's stock worth $882,000 after purchasing an additional 264 shares during the last quarter. Synovus Financial Corp raised its stake in Veracyte by 1.2% during the fourth quarter. Synovus Financial Corp now owns 23,132 shares of the biotechnology company's stock worth $916,000 after purchasing an additional 267 shares during the period. HighTower Advisors LLC boosted its holdings in Veracyte by 1.9% in the 4th quarter. HighTower Advisors LLC now owns 16,630 shares of the biotechnology company's stock valued at $659,000 after purchasing an additional 305 shares during the last quarter. Finally, Principal Securities Inc. grew its stake in shares of Veracyte by 34.1% in the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company's stock valued at $76,000 after buying an additional 485 shares during the period.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Stephens reaffirmed an "overweight" rating and set a $45.00 price target on shares of Veracyte in a research report on Wednesday, March 26th. UBS Group reduced their target price on Veracyte from $49.00 to $42.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Needham & Company LLC lowered their price target on Veracyte from $51.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Wall Street Zen downgraded Veracyte from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, Guggenheim decreased their target price on shares of Veracyte from $45.00 to $37.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $40.90.

Veracyte Stock Down 0.8%

NASDAQ VCYT traded down $0.21 during trading on Thursday, hitting $27.40. The stock had a trading volume of 1,001,585 shares, compared to its average volume of 892,362. The company has a market capitalization of $2.15 billion, a PE ratio of -182.67 and a beta of 2.14. The firm has a 50 day moving average price of $30.64 and a 200 day moving average price of $36.83. Veracyte, Inc. has a twelve month low of $19.73 and a twelve month 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, beating analysts' consensus estimates of $0.29 by $0.07. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The firm had revenue of $118.63 million during the quarter, compared to analysts' expectations of $110.73 million. During the same quarter in the previous year, the business posted ($0.39) earnings per share. On average, sell-side analysts anticipate 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.