Wellington Management Group LLP Sells 148,285 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Wellington Management Group LLP trimmed its position in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,084,559 shares of the biotechnology company's stock after selling 148,285 shares during the quarter. Wellington Management Group LLP owned 5.24% of Veracyte worth $161,749,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HighTower Advisors LLC acquired a new position in shares of Veracyte in the 3rd quarter valued at $554,000. Erste Asset Management GmbH bought a new stake in Veracyte in the third quarter valued at about $574,000. Neo Ivy Capital Management acquired a new position in Veracyte in the third quarter worth about $820,000. Cerity Partners LLC bought a new position in Veracyte during the third quarter worth about $431,000. Finally, Zacks Investment Management acquired a new stake in Veracyte during the third quarter valued at approximately $1,123,000.

Veracyte Trading Up 2.0 %

Shares of VCYT traded up $0.58 during trading hours on Monday, hitting $29.53. 1,439,277 shares of the stock traded hands, compared to its average volume of 845,470. The business has a fifty day moving average of $35.93 and a 200-day moving average of $37.63. The firm has a market capitalization of $2.30 billion, a PE ratio of -196.87 and a beta of 2.03. Veracyte, Inc. has a 1-year low of $18.61 and a 1-year high of $47.32.

Veracyte (NASDAQ:VCYT - Get Free Report) last released its earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.07. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The company had revenue of $118.63 million for the quarter, compared to the consensus estimate of $110.73 million. During the same period in the prior year, the company posted ($0.39) EPS. As a group, equities research analysts expect that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on VCYT shares. Needham & Company LLC reissued a "buy" rating and issued a $51.00 target price on shares of Veracyte in a report on Tuesday, February 25th. StockNews.com lowered Veracyte from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Craig Hallum began coverage on shares of Veracyte in a research note on Thursday, March 20th. They issued a "buy" rating and a $45.00 target price on the stock. UBS Group increased their target price on shares of Veracyte from $46.00 to $49.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Finally, Guggenheim restated a "buy" rating and issued a $45.00 price target on shares of Veracyte in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Veracyte has an average rating of "Moderate Buy" and a consensus target price of $43.40.

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.