Veracyte, Inc. (NASDAQ:VCYT) Position Cut by Jennison Associates LLC

Jennison Associates LLC trimmed its holdings in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 385,503 shares of the biotechnology company's stock after selling 15,581 shares during the period. Jennison Associates LLC owned 0.50% of Veracyte worth $13,123,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of VCYT. SG Americas Securities LLC purchased a new stake in Veracyte in the first quarter valued at approximately $140,000. State Board of Administration of Florida Retirement System raised its position in shares of Veracyte by 11.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 23,056 shares of the biotechnology company's stock worth $514,000 after buying an additional 2,280 shares during the period. Vanguard Group Inc. boosted its holdings in Veracyte by 3.7% in the first quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company's stock valued at $163,649,000 after acquiring an additional 266,660 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Veracyte by 24.1% in the first quarter. Bessemer Group Inc. now owns 35,750 shares of the biotechnology company's stock valued at $793,000 after acquiring an additional 6,940 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its position in Veracyte by 6.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 8,198 shares of the biotechnology company's stock valued at $182,000 after acquiring an additional 530 shares during the period.

Analyst Ratings Changes

VCYT has been the topic of several research analyst reports. Wolfe Research assumed coverage on Veracyte in a research note on Friday, November 15th. They issued an "outperform" rating and a $50.00 price objective on the stock. Morgan Stanley lifted their price target on shares of Veracyte from $26.00 to $28.00 and gave the company an "underweight" rating in a research report on Monday, November 18th. Guggenheim initiated coverage on shares of Veracyte in a research report on Thursday, October 10th. They issued a "buy" rating and a $40.00 price objective for the company. Needham & Company LLC raised their target price on shares of Veracyte from $37.00 to $44.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, Leerink Partners upped their price target on shares of Veracyte from $35.00 to $40.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Veracyte presently has a consensus rating of "Moderate Buy" and an average price target of $41.25.

Insider Buying and Selling at Veracyte

In other Veracyte news, insider John Leite sold 5,479 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total transaction of $163,164.62. Following the sale, the insider now directly owns 76,174 shares of the company's stock, valued at approximately $2,268,461.72. This represents a 6.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Evan/ Fa Jones sold 5,173 shares of the firm's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $35.23, for a total transaction of $182,244.79. Following the completion of the transaction, the director now owns 34,343 shares in the company, valued at approximately $1,209,903.89. The trade was a 13.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Veracyte Trading Up 1.7 %

NASDAQ:VCYT traded up $0.65 on Friday, reaching $39.59. The stock had a trading volume of 714,947 shares, compared to its average volume of 876,752. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $41.43. The stock has a market cap of $3.07 billion, a P/E ratio of -263.93 and a beta of 1.67. The company has a 50-day moving average of $34.89 and a 200 day moving average of $28.25.

Veracyte (NASDAQ:VCYT - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.16. The firm had revenue of $115.86 million during the quarter, compared to the consensus estimate of $109.81 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. Veracyte's revenue for the quarter was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.03) earnings per share. On average, equities analysts predict that Veracyte, Inc. will post 0.32 EPS for the current year.

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.