Lazard Asset Management LLC Raises Stock Holdings in Veracyte, Inc. (NASDAQ:VCYT)

Lazard Asset Management LLC increased its position in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 36.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,809 shares of the biotechnology company's stock after purchasing an additional 26,026 shares during the period. Lazard Asset Management LLC owned 0.13% of Veracyte worth $3,871,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its stake in Veracyte by 13.2% in the fourth quarter. Janus Henderson Group PLC now owns 34,326 shares of the biotechnology company's stock worth $1,359,000 after purchasing an additional 4,000 shares during the period. Gotham Asset Management LLC grew its stake in Veracyte by 21.5% in the fourth quarter. Gotham Asset Management LLC now owns 20,057 shares of the biotechnology company's stock worth $794,000 after purchasing an additional 3,549 shares during the period. Graham Capital Management L.P. grew its stake in Veracyte by 24.0% in the fourth quarter. Graham Capital Management L.P. now owns 21,787 shares of the biotechnology company's stock worth $863,000 after purchasing an additional 4,216 shares during the period. Fred Alger Management LLC grew its stake in Veracyte by 254.1% in the fourth quarter. Fred Alger Management LLC now owns 33,892 shares of the biotechnology company's stock worth $1,342,000 after purchasing an additional 24,321 shares during the period. Finally, Deutsche Bank AG grew its stake in Veracyte by 42.4% in the fourth quarter. Deutsche Bank AG now owns 81,266 shares of the biotechnology company's stock worth $3,218,000 after purchasing an additional 24,197 shares during the period.

Veracyte Trading Down 0.3%

VCYT stock traded down $0.07 during trading on Thursday, reaching $27.54. The stock had a trading volume of 117,615 shares, compared to its average volume of 888,887. Veracyte, Inc. has a 52 week low of $19.73 and a 52 week high of $47.32. The stock's 50 day moving average is $30.64 and its two-hundred day moving average is $36.83. The firm has a market cap of $2.16 billion, a PE ratio of -183.63 and a beta of 2.14.

Veracyte (NASDAQ:VCYT - Get Free Report) last posted its 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 company had revenue of $118.63 million for the quarter, compared to the consensus estimate of $110.73 million. During the same quarter in the prior year, the company earned ($0.39) earnings per share. On average, research analysts anticipate that Veracyte, Inc. will post 0.68 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Guggenheim reduced their price target on Veracyte from $45.00 to $37.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. UBS Group dropped their target price on Veracyte from $49.00 to $42.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Craig Hallum initiated coverage on Veracyte in a report on Thursday, March 20th. They issued a "buy" rating and a $45.00 target price on the stock. Wall Street Zen downgraded Veracyte from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. Finally, Needham & Company LLC dropped their target price on Veracyte from $51.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.