Man Group plc Lowers Position in Veracyte, Inc. (NASDAQ:VCYT)

Man Group plc cut its stake in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 70.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,745 shares of the biotechnology company's stock after selling 294,029 shares during the quarter. Man Group plc owned 0.16% of Veracyte worth $4,821,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Jones Financial Companies Lllp raised its position in Veracyte by 49.7% in the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock valued at $28,000 after buying an additional 237 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Veracyte by 1.2% in the fourth quarter. Arizona State Retirement System now owns 22,276 shares of the biotechnology company's stock valued at $882,000 after purchasing an additional 264 shares during the last quarter. Synovus Financial Corp lifted its position in shares of Veracyte by 1.2% during the fourth quarter. Synovus Financial Corp now owns 23,132 shares of the biotechnology company's stock valued at $916,000 after purchasing an additional 267 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Veracyte by 1.9% during the fourth 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 in the last quarter. Finally, Principal Securities Inc. boosted its holdings in Veracyte by 34.1% during the fourth quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company's stock worth $76,000 after purchasing an additional 485 shares during the last quarter.

Wall Street Analysts Forecast Growth

VCYT has been the topic of a number of research analyst reports. Stephens restated an "overweight" rating and issued a $45.00 target price on shares of Veracyte in a research note on Wednesday, March 26th. Wall Street Zen cut Veracyte from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Needham & Company LLC decreased their target price on Veracyte from $51.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Guggenheim lowered their target price on Veracyte from $45.00 to $37.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, UBS Group decreased their price objective on shares of Veracyte from $49.00 to $42.00 and set a "buy" rating for the company in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Veracyte presently has an average rating of "Moderate Buy" and a consensus price target of $40.90.

Veracyte Trading Down 0.9%

Shares of NASDAQ VCYT traded down $0.24 during midday trading on Monday, hitting $27.16. The company's stock had a trading volume of 612,390 shares, compared to its average volume of 894,629. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -181.07 and a beta of 2.14. The stock has a fifty day moving average price of $30.49 and a 200 day moving average price of $36.71. Veracyte, Inc. has a one year low of $19.73 and a one year high of $47.32.

Veracyte (NASDAQ:VCYT - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping 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 positive return on equity of 3.02% and a negative net margin of 2.18%. During the same quarter in the prior year, the firm posted ($0.39) EPS. On average, equities research analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal 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.