Granahan Investment Management LLC reduced its holdings in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 84.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,515 shares of the biotechnology company's stock after selling 262,466 shares during the quarter. Granahan Investment Management LLC owned 0.06% of Veracyte worth $1,961,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the business. Jones Financial Companies Lllp raised its holdings in Veracyte by 49.7% during the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock worth $28,000 after buying an additional 237 shares during the period. US Bancorp DE raised its holdings in shares of Veracyte by 57.4% during the fourth quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company's stock worth $70,000 after acquiring an additional 647 shares during the period. Principal Securities Inc. lifted its position in Veracyte by 34.1% in the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company's stock valued at $76,000 after acquiring an additional 485 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in Veracyte in the 4th quarter worth $91,000. Finally, Sterling Capital Management LLC increased its holdings in Veracyte by 810.2% during the 4th quarter. Sterling Capital Management LLC now owns 2,421 shares of the biotechnology company's stock worth $96,000 after purchasing an additional 2,155 shares in the last quarter.
Veracyte Stock Down 5.9 %
NASDAQ:VCYT opened at $29.37 on Friday. Veracyte, Inc. has a 12-month low of $19.73 and a 12-month high of $47.32. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of -195.80 and a beta of 2.14. The stock's 50 day moving average price is $31.05 and its two-hundred day moving average price is $37.12.
Veracyte (NASDAQ:VCYT - Get Free Report) last posted its quarterly earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.07. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The business had revenue of $118.63 million for the quarter, compared to analysts' expectations of $110.73 million. During the same quarter in the prior year, the business earned ($0.39) EPS. Equities research analysts expect that Veracyte, Inc. will post 0.68 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Stephens restated an "overweight" rating and issued a $45.00 price target on shares of Veracyte in a report on Wednesday, March 26th. UBS Group reduced 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. StockNews.com downgraded shares of Veracyte from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. Needham & Company LLC reduced their target price on shares of Veracyte from $51.00 to $41.00 and set a "buy" rating for the company in a report on Thursday. Finally, Craig Hallum assumed coverage on shares of Veracyte in a research note on Thursday, March 20th. They issued a "buy" rating and a $45.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $40.90.
Read Our Latest Report on Veracyte
About Veracyte
(
Free Report)
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.
Further Reading
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