Voloridge Investment Management LLC Has $3.37 Million Stock Holdings in Veracyte, Inc. (NASDAQ:VCYT)

Voloridge Investment Management LLC cut its holdings in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 65.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 85,116 shares of the biotechnology company's stock after selling 163,461 shares during the quarter. Voloridge Investment Management LLC owned about 0.11% of Veracyte worth $3,371,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VCYT. Barclays PLC boosted its stake in Veracyte by 138.6% in the third quarter. Barclays PLC now owns 146,402 shares of the biotechnology company's stock valued at $4,983,000 after acquiring an additional 85,033 shares during the last quarter. KBC Group NV boosted its stake in Veracyte by 44.6% in the fourth quarter. KBC Group NV now owns 3,872 shares of the biotechnology company's stock valued at $153,000 after acquiring an additional 1,195 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new position in Veracyte in the fourth quarter valued at approximately $262,000. China Universal Asset Management Co. Ltd. boosted its stake in Veracyte by 11.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 16,433 shares of the biotechnology company's stock valued at $651,000 after acquiring an additional 1,660 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of 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 purchasing an additional 448,251 shares in the last quarter.

Veracyte Price Performance

VCYT stock traded down $0.07 during midday trading on Friday, hitting $26.89. The company's stock had a trading volume of 1,460,455 shares, compared to its average volume of 900,493. Veracyte, Inc. has a twelve month low of $19.73 and a twelve month high of $47.32. The company's fifty day moving average price is $29.95 and its 200 day moving average price is $36.33. The stock has a market capitalization of $2.11 billion, a P/E ratio of -179.27 and a beta of 2.14.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on VCYT shares. UBS Group reduced their price target on shares of Veracyte from $49.00 to $42.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Wall Street Zen cut shares of Veracyte from a "buy" rating to a "hold" rating in a research report on Friday. Craig Hallum started coverage on shares of Veracyte in a research report on Thursday, March 20th. They set a "buy" rating and a $45.00 price target on the stock. Guggenheim reduced their price target on shares of Veracyte from $45.00 to $37.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Finally, Needham & Company LLC reduced their price target on shares of Veracyte from $51.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.90.

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.