Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 9.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,263,939 shares of the biotechnology company's stock after selling 229,438 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 2.90% of Veracyte worth $67,126,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in VCYT. Jones Financial Companies Lllp raised its holdings in shares of Veracyte by 49.7% during the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock valued at $28,000 after purchasing an additional 237 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Veracyte by 1,267.6% in the 1st quarter. Versant Capital Management Inc now owns 930 shares of the biotechnology company's stock worth $28,000 after buying an additional 862 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Veracyte during the 4th quarter worth approximately $64,000. US Bancorp DE lifted its holdings in Veracyte by 57.4% during the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company's stock valued at $70,000 after buying an additional 647 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its stake in 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 acquiring an additional 2,155 shares during the period.

Veracyte Stock Performance

NASDAQ VCYT traded down $0.07 on Friday, reaching $27.51. The stock had a trading volume of 445,469 shares, compared to its average volume of 916,372. The stock has a market cap of $2.15 billion, a P/E ratio of 67.10 and a beta of 2.07. Veracyte, Inc. has a 12-month low of $19.73 and a 12-month high of $47.32. The business's 50-day moving average price is $28.10 and its 200 day moving average price is $33.85.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on VCYT. Wall Street Zen cut Veracyte from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. Guggenheim reduced their target price on shares of Veracyte from $45.00 to $37.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. UBS Group dropped their price target on Veracyte from $49.00 to $42.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Needham & Company LLC cut their price objective on shares of Veracyte from $51.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Finally, Stephens reaffirmed an "overweight" rating and set a $45.00 target price on shares of Veracyte in a research note on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $40.90.

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.