Veracyte, Inc. (NASDAQ:VCYT) Shares Acquired by ARK Investment Management LLC

ARK Investment Management LLC lifted its position in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,655,603 shares of the biotechnology company's stock after acquiring an additional 62,011 shares during the quarter. Veracyte makes up approximately 1.2% of ARK Investment Management LLC's portfolio, making the stock its 23rd biggest position. ARK Investment Management LLC owned 10.48% of Veracyte worth $210,606,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of VCYT. Dark Forest Capital Management LP bought a new stake in shares of Veracyte during the third quarter worth about $506,000. Qube Research & Technologies Ltd boosted its holdings in Veracyte by 55.5% in the third quarter. Qube Research & Technologies Ltd now owns 166,732 shares of the biotechnology company's stock valued at $3,723,000 after acquiring an additional 59,484 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in Veracyte by 96.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,862 shares of the biotechnology company's stock valued at $42,000 after purchasing an additional 913 shares during the period. Legato Capital Management LLC raised its stake in Veracyte by 36.4% during the second quarter. Legato Capital Management LLC now owns 46,313 shares of the biotechnology company's stock worth $1,180,000 after buying an additional 12,352 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Veracyte by 38.5% in the 3rd quarter. Invesco Ltd. now owns 476,349 shares of the biotechnology company's stock worth $10,637,000 after acquiring an additional 132,310 shares in the last quarter.

Veracyte Stock Up 2.0 %

VCYT stock traded up $0.44 during mid-day trading on Thursday, reaching $22.16. 614,310 shares of the company traded hands, compared to its average volume of 632,451. The firm's 50 day moving average price is $23.84 and its 200 day moving average price is $24.29. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -21.51 and a beta of 1.64. Veracyte, Inc. has a fifty-two week low of $19.52 and a fifty-two week high of $30.52.

Veracyte (NASDAQ:VCYT - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.03. The business had revenue of $98.20 million during the quarter, compared to the consensus estimate of $95.49 million. Veracyte had a negative return on equity of 2.02% and a negative net margin of 20.61%. On average, analysts anticipate that Veracyte, Inc. will post -0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VCYT has been the subject of several research analyst reports. William Blair reiterated an "outperform" rating on shares of Veracyte in a research note on Friday, February 23rd. Morgan Stanley cut their price objective on shares of Veracyte from $22.00 to $21.00 and set an "underweight" rating on the stock in a research report on Monday, February 26th. Finally, Needham & Company LLC upped their price target on Veracyte from $30.00 to $33.00 and gave the stock a "buy" rating in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $30.00.

Veracyte Profile

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.