Parkman Healthcare Partners LLC trimmed its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 22.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 100,301 shares of the biotechnology company's stock after selling 28,959 shares during the period. Parkman Healthcare Partners LLC owned approximately 0.13% of Veracyte worth $3,972,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of VCYT. Ieq Capital LLC bought a new position in shares of Veracyte in the 4th quarter worth $580,000. Barclays PLC increased its position in shares of Veracyte by 138.6% during the 3rd quarter. Barclays PLC now owns 146,402 shares of the biotechnology company's stock valued at $4,983,000 after purchasing an additional 85,033 shares during the last quarter. Jennison Associates LLC increased its holdings in Veracyte by 116.3% in the 4th quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company's stock worth $33,017,000 after acquiring an additional 448,251 shares during the last quarter. Bayesian Capital Management LP purchased a new position in Veracyte in the 4th quarter valued at approximately $693,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Veracyte by 3.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 48,414 shares of the biotechnology company's stock valued at $1,918,000 after buying an additional 1,816 shares in the last quarter.
Veracyte Trading Down 1.4%
Shares of NASDAQ:VCYT traded down $0.42 during trading on Monday, reaching $28.78. 179,831 shares of the company traded hands, compared to its average volume of 888,250. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of -191.87 and a beta of 2.14. Veracyte, Inc. has a 52-week low of $19.73 and a 52-week high of $47.32. The business's fifty day moving average is $30.79 and its 200-day moving average is $36.96.
Veracyte (NASDAQ:VCYT - Get Free Report) last announced its earnings results on Monday, February 24th. The biotechnology company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.07. The company had revenue of $118.63 million during the quarter, compared to the consensus estimate 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 earned ($0.39) earnings per share. On average, sell-side analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts have weighed in on the company. UBS Group reduced their target price on Veracyte from $49.00 to $42.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Guggenheim dropped their price objective on shares of Veracyte from $45.00 to $37.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Stephens reaffirmed an "overweight" rating and set a $45.00 price objective on shares of Veracyte in a report on Wednesday, March 26th. Needham & Company LLC dropped their price objective on shares of Veracyte from $51.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, StockNews.com lowered Veracyte from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $40.90.
Read Our Latest Stock Report on VCYT
About Veracyte
(
Free Report)
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.
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