MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $7.61 Million Stake in Veracyte, Inc. (NASDAQ:VCYT)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its holdings in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 8.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,151 shares of the biotechnology company's stock after selling 16,995 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.25% of Veracyte worth $7,611,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VCYT. Artisan Partners Limited Partnership raised its position in 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 acquiring an additional 1,576,432 shares in the last quarter. Marshall Wace LLP raised its position in Veracyte by 768.9% during the fourth quarter. Marshall Wace LLP now owns 956,577 shares of the biotechnology company's stock worth $37,880,000 after acquiring an additional 846,487 shares in the last quarter. Driehaus Capital Management LLC raised its position in Veracyte by 226.8% during the fourth quarter. Driehaus Capital Management LLC now owns 1,183,766 shares of the biotechnology company's stock worth $46,877,000 after acquiring an additional 821,554 shares in the last quarter. Vanguard Group Inc. raised 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 acquiring an additional 463,098 shares in the last quarter. Finally, Jennison Associates LLC raised 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 acquiring an additional 448,251 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have commented on VCYT shares. Needham & Company LLC decreased their price objective on shares of Veracyte from $51.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Stephens reiterated an "overweight" rating and issued a $45.00 price objective on shares of Veracyte in a report on Wednesday, March 26th. Guggenheim decreased their price objective on shares of Veracyte from $45.00 to $37.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Craig Hallum started coverage on shares of Veracyte in a report on Thursday, March 20th. They issued a "buy" rating and a $45.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Veracyte from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $40.90.

Veracyte Stock Performance

Shares of VCYT stock traded down $0.24 on Friday, hitting $27.16. The company's stock had a trading volume of 612,390 shares, compared to its average volume of 892,894. The stock's 50 day moving average is $30.57 and its 200-day moving average is $36.77. Veracyte, Inc. has a fifty-two week low of $19.73 and a fifty-two week high of $47.32. The company has a market capitalization of $2.13 billion, a PE ratio of -181.07 and a beta of 2.14.

Veracyte (NASDAQ:VCYT - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The biotechnology company reported $0.36 EPS for the quarter, beating the consensus estimate 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 business had revenue of $118.63 million for the quarter, compared to the consensus estimate of $110.73 million. During the same period in the prior year, the company posted ($0.39) earnings per share. On average, research analysts forecast that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Veracyte Company 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.