New York State Common Retirement Fund Cuts Position in Veracyte, Inc. (NASDAQ:VCYT)

New York State Common Retirement Fund lessened its position in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 15.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 667,329 shares of the biotechnology company's stock after selling 118,642 shares during the period. New York State Common Retirement Fund owned approximately 0.86% of Veracyte worth $19,786,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Veracyte by 54.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,538 shares of the biotechnology company's stock worth $400,000 after acquiring an additional 4,792 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Veracyte by 122.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,199 shares of the biotechnology company's stock worth $540,000 after acquiring an additional 10,022 shares during the last quarter. Bayesian Capital Management LP bought a new position in shares of Veracyte in the fourth quarter worth about $693,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Veracyte by 3.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 48,414 shares of the biotechnology company's stock worth $1,918,000 after acquiring an additional 1,816 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Veracyte by 4,351.0% in the first quarter. GAMMA Investing LLC now owns 19,273 shares of the biotechnology company's stock worth $571,000 after acquiring an additional 18,840 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on VCYT shares. Needham & Company LLC dropped 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. UBS Group lowered their target price on Veracyte from $49.00 to $42.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Wall Street Zen lowered Veracyte from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. Guggenheim lowered their target price on Veracyte from $45.00 to $37.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Stephens restated an "overweight" rating and set a $45.00 price objective on shares of Veracyte in a research report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Veracyte presently has an average rating of "Moderate Buy" and a consensus target price of $40.90.

Veracyte Stock Performance

NASDAQ:VCYT traded down $0.71 on Friday, hitting $23.51. The stock had a trading volume of 1,613,012 shares, compared to its average volume of 920,378. The stock has a market cap of $1.84 billion, a P/E ratio of 57.34 and a beta of 2.07. The firm's fifty day simple moving average is $27.15 and its two-hundred day simple moving average is $32.85. Veracyte, Inc. has a 1 year low of $19.73 and a 1 year high of $47.32.

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.