Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC cut its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 10.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 649,017 shares of the biotechnology company's stock after selling 74,537 shares during the quarter. Veracyte accounts for 1.1% of Granite Investment Partners LLC's investment portfolio, making the stock its 20th largest position. Granite Investment Partners LLC owned approximately 0.84% of Veracyte worth $25,701,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in Veracyte by 49.7% in the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock worth $28,000 after acquiring an additional 237 shares during the last quarter. US Bancorp DE lifted its position in shares of Veracyte by 57.4% during the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company's stock worth $70,000 after purchasing an additional 647 shares during the last quarter. Principal Securities Inc. grew its stake in shares of Veracyte by 34.1% during the fourth quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company's stock worth $76,000 after purchasing an additional 485 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in Veracyte in the fourth quarter valued at $91,000. Finally, Sterling Capital Management LLC lifted 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 buying an additional 2,155 shares during the last quarter.

Veracyte Stock Performance

VCYT traded down $0.39 during trading on Friday, hitting $31.14. The stock had a trading volume of 697,995 shares, compared to its average volume of 862,891. The firm has a market capitalization of $2.43 billion, a P/E ratio of -207.60 and a beta of 2.03. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $47.32. The company's 50-day moving average price is $33.35 and its 200 day moving average price is $37.36.

Veracyte (NASDAQ:VCYT - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.07. The firm had revenue of $118.63 million for the quarter, compared to analyst estimates of $110.73 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. During the same quarter in the prior year, the company posted ($0.39) earnings per share. As a group, equities analysts expect that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on VCYT. Craig Hallum started coverage on Veracyte in a research note on Thursday, March 20th. They set a "buy" rating and a $45.00 target price for the company. UBS Group lifted their price target on shares of Veracyte from $46.00 to $49.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Needham & Company LLC restated a "buy" rating and issued a $51.00 price objective on shares of Veracyte in a research note on Tuesday, February 25th. Stephens reaffirmed an "overweight" rating and set a $45.00 price objective on shares of Veracyte in a report on Wednesday, March 26th. Finally, StockNews.com downgraded Veracyte from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. 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. According to MarketBeat, Veracyte currently has an average rating of "Moderate Buy" and an average target price of $42.60.

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.