Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 3.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,084,559 shares of the biotechnology company’s stock after selling 148,285 shares during the quarter. Wellington Management Group LLP owned about 0.05% of Veracyte worth $161,749,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in VCYT. Jones Financial Companies Lllp increased its stake in Veracyte by 49.7% during the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 237 shares in the last quarter. US Bancorp DE increased its position in shares of Veracyte by 57.4% in the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock valued at $70,000 after acquiring an additional 647 shares during the period. Principal Securities Inc. raised its stake in Veracyte by 34.1% in the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock worth $76,000 after acquiring an additional 485 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in Veracyte during the 4th quarter valued at about $91,000. Finally, KBC Group NV grew its stake in Veracyte by 44.6% during the 4th quarter. KBC Group NV now owns 3,872 shares of the biotechnology company’s stock valued at $153,000 after purchasing an additional 1,195 shares during the last quarter.

Veracyte Stock Up 1.9 %

Shares of Veracyte stock opened at $30.13 on Thursday. The firm has a market cap of $2.35 billion, a PE ratio of -200.87 and a beta of 2.03. Veracyte, Inc. has a 52 week low of $18.61 and a 52 week high of $47.32. The business’s fifty day simple moving average is $36.81 and its 200-day simple moving average is $37.72.

Veracyte (NASDAQ:VCYT) last posted 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. 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 analysts’ expectations of $110.73 million. During the same quarter in the prior year, the company posted ($0.39) earnings per share. As a group, equities analysts expect that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on VCYT shares. Needham & Company LLC reiterated a “buy” rating and issued a $51.00 price target on shares of Veracyte in a report on Tuesday, February 25th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $37.00 price objective (down previously from $38.00) on shares of Veracyte in a research note on Thursday, December 5th. Stephens restated an “overweight” rating and set a $45.00 target price on shares of Veracyte in a research report on Wednesday, March 26th. Guggenheim reaffirmed a “buy” rating and set a $45.00 price target on shares of Veracyte in a research report on Tuesday, February 25th. Finally, Craig Hallum began coverage on Veracyte in a research note on Thursday, March 20th. They issued a “buy” rating and a $45.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.40.

Veracyte Company 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.