Federated Hermes Inc. Decreases Stock Holdings in Veracyte, Inc. (NASDAQ:VCYT)

Federated Hermes Inc. lessened its holdings in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 22.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,423 shares of the biotechnology company's stock after selling 27,590 shares during the period. Federated Hermes Inc. owned about 0.12% of Veracyte worth $2,800,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Versant Capital Management Inc raised its stake in Veracyte by 1,267.6% in the 1st quarter. Versant Capital Management Inc now owns 930 shares of the biotechnology company's stock valued at $28,000 after purchasing an additional 862 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Veracyte in the fourth quarter valued at about $64,000. Sterling Capital Management LLC lifted 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 worth $96,000 after buying an additional 2,155 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Veracyte during the fourth quarter worth about $152,000. Finally, Neuberger Berman Group LLC purchased a new stake in Veracyte during the 4th quarter valued at about $201,000.

Veracyte Price Performance

Shares of NASDAQ VCYT traded down $1.04 during midday trading on Wednesday, hitting $23.97. The company's stock had a trading volume of 1,393,099 shares, compared to its average volume of 1,139,520. Veracyte, Inc. has a 1 year low of $22.61 and a 1 year high of $47.32. The business's fifty day simple moving average is $26.12 and its two-hundred day simple moving average is $31.31. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 58.46 and a beta of 1.97.

Veracyte (NASDAQ:VCYT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. Veracyte had a return on equity of 6.14% and a net margin of 7.13%. Analysts anticipate that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VCYT. Guggenheim lowered their target price on Veracyte from $45.00 to $37.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Wall Street Zen raised Veracyte from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. UBS Group cut their price objective on shares of Veracyte from $49.00 to $42.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Finally, Needham & Company LLC dropped their price target on shares of Veracyte from $51.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Veracyte has a consensus rating of "Moderate Buy" and an average price target of $40.90.

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.