New York State Common Retirement Fund Sells 118,642 Shares of Veracyte, Inc. (NASDAQ:VCYT)

New York State Common Retirement Fund lowered its stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 15.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 667,329 shares of the biotechnology company's stock after selling 118,642 shares during the quarter. New York State Common Retirement Fund owned about 0.86% of Veracyte worth $19,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in VCYT. Artisan Partners Limited Partnership boosted 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 valued at $261,331,000 after purchasing an additional 1,576,432 shares in the last quarter. Marshall Wace LLP boosted 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 valued at $37,880,000 after purchasing an additional 846,487 shares in the last quarter. Driehaus Capital Management LLC boosted 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 valued at $46,877,000 after purchasing an additional 821,554 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Veracyte during the fourth quarter valued at about $20,717,000. Finally, Vanguard Group Inc. boosted 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 valued at $325,180,000 after purchasing an additional 463,098 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on VCYT shares. Needham & Company LLC dropped their price objective on Veracyte from $51.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Guggenheim lowered their price target on Veracyte from $45.00 to $37.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Wall Street Zen downgraded Veracyte from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. Craig Hallum began coverage on Veracyte in a report on Thursday, March 20th. They issued a "buy" rating and a $45.00 price target for the company. Finally, Stephens reissued an "overweight" rating and issued a $45.00 price target on shares of Veracyte in a report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $40.90.

Veracyte Stock Down 5.3%

Shares of NASDAQ:VCYT opened at $25.24 on Wednesday. Veracyte, Inc. has a 52-week low of $19.73 and a 52-week high of $47.32. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 61.56 and a beta of 2.07. The business has a 50-day moving average price of $27.52 and a 200-day moving average price of $33.13.

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.

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