Sumitomo Mitsui Trust Holdings Inc. Has $85.41 Million Stake in Veracyte, Inc. (NASDAQ:VCYT)

Sumitomo Mitsui Trust Holdings Inc. reduced its position in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,104,676 shares of the biotechnology company's stock after selling 68,900 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 4.25% of Veracyte worth $85,410,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Credit Suisse AG raised its stake in Veracyte by 0.6% in the 3rd quarter. Credit Suisse AG now owns 74,016 shares of the biotechnology company's stock valued at $1,229,000 after purchasing an additional 454 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in Veracyte by 8.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,012 shares of the biotechnology company's stock valued at $153,000 after buying an additional 480 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Veracyte by 9.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,567 shares of the biotechnology company's stock valued at $167,000 after buying an additional 544 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Veracyte by 2.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,246 shares of the biotechnology company's stock valued at $745,000 after buying an additional 562 shares in the last quarter. Finally, Diversified Trust Co grew its holdings in Veracyte by 4.0% in the 4th 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.

Insider Buying and Selling

In related news, Director Karin Eastham sold 10,000 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $717,156.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Veracyte Stock Performance

Shares of NASDAQ VCYT traded up $0.34 during mid-day trading on Thursday, reaching $19.20. 813,915 shares of the company's stock were exchanged, compared to its average volume of 629,407. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -18.64 and a beta of 1.62. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $30.52. The company's 50-day moving average is $22.39 and its 200-day moving average is $23.97.

Veracyte (NASDAQ:VCYT - Get Free Report) last posted 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 firm had revenue of $98.20 million for the quarter, compared to analyst estimates of $95.49 million. As a group, equities analysts predict that Veracyte, Inc. will post -0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on VCYT shares. Needham & Company LLC upped 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. William Blair restated an "outperform" rating on shares of Veracyte in a report on Friday, February 23rd. The Goldman Sachs Group dropped their target price on Veracyte from $32.00 to $28.00 and set a "buy" rating for the company in a report on Monday. Finally, Morgan Stanley lowered their price target 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 given a hold rating and four have given a buy rating to the company. According to MarketBeat, Veracyte has a consensus rating of "Moderate Buy" and an average price target of $29.00.

Veracyte Company 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.