Mirae Asset Global Investments Co. Ltd. Has $7.71 Million Position in Veracyte, Inc. (NASDAQ:VCYT)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 47.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 280,062 shares of the biotechnology company's stock after selling 251,865 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.38% of Veracyte worth $7,705,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. grew its stake in shares of Veracyte by 353.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,448 shares of the biotechnology company's stock valued at $232,000 after buying an additional 6,586 shares in the last quarter. ARK Investment Management LLC grew its stake in shares of Veracyte by 0.8% in the fourth quarter. ARK Investment Management LLC now owns 7,655,603 shares of the biotechnology company's stock valued at $210,606,000 after buying an additional 62,011 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Veracyte in the fourth quarter valued at $9,586,000. Diversified Trust Co grew its stake in shares of Veracyte by 4.0% in the fourth quarter. Diversified Trust Co now owns 14,810 shares of the biotechnology company's stock valued at $407,000 after buying an additional 575 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of Veracyte by 16.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 93,901 shares of the biotechnology company's stock valued at $2,583,000 after buying an additional 13,482 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. William Blair reaffirmed an "outperform" rating on shares of Veracyte in a research note on Friday, February 23rd. Needham & Company LLC lifted their target price on Veracyte from $30.00 to $33.00 and gave the company a "buy" rating in a report on Friday, February 23rd. Finally, Morgan Stanley decreased their target price on Veracyte from $22.00 to $21.00 and set an "underweight" rating for the company in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $30.00.

Veracyte Stock Down 2.4 %

VCYT stock traded down $0.50 during trading on Friday, hitting $20.23. The company had a trading volume of 563,132 shares, compared to its average volume of 660,391. The firm has a market cap of $1.52 billion, a PE ratio of -19.64 and a beta of 1.62. Veracyte, Inc. has a 1-year low of $19.52 and a 1-year high of $30.52. The firm has a 50-day moving average price of $22.73 and a 200-day moving average price of $24.05.

Veracyte (NASDAQ:VCYT - Get Free Report) last released its 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. Veracyte had a negative return on equity of 2.02% and a negative net margin of 20.61%. The company had revenue of $98.20 million for the quarter, compared to analysts' expectations of $95.49 million. Sell-side analysts anticipate that Veracyte, Inc. will post -0.29 earnings per share for the current year.

Insiders Place Their Bets

In other Veracyte news, Director Karin Eastham sold 10,000 shares of the business's stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $21.65, for a total transaction of $216,500.00. Following the transaction, the director now owns 33,125 shares in the company, valued at approximately $717,156.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is currently owned by insiders.

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.