Nikko Asset Management Americas Inc. Sells 253,025 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Nikko Asset Management Americas Inc. reduced its position in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 9.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,493,377 shares of the biotechnology company's stock after selling 253,025 shares during the period. Veracyte makes up 1.1% of Nikko Asset Management Americas Inc.'s investment portfolio, making the stock its 27th largest holding. Nikko Asset Management Americas Inc. owned about 3.22% of Veracyte worth $98,663,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Jones Financial Companies Lllp boosted 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 during the last quarter. Arizona State Retirement System boosted its position in shares of Veracyte by 1.2% during the fourth quarter. Arizona State Retirement System now owns 22,276 shares of the biotechnology company's stock valued at $882,000 after buying an additional 264 shares during the last quarter. HighTower Advisors LLC raised its position in Veracyte by 1.9% in the 4th quarter. HighTower Advisors LLC now owns 16,630 shares of the biotechnology company's stock valued at $659,000 after buying an additional 305 shares during the last quarter. KBC Group NV lifted its stake in Veracyte by 13.7% during the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company's stock valued at $91,000 after acquiring an additional 323 shares in the last quarter. Finally, Principal Securities Inc. lifted its stake in Veracyte by 34.1% during the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company's stock valued at $76,000 after acquiring an additional 485 shares in the last quarter.

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Veracyte Stock Down 0.1 %

Veracyte stock traded down $0.02 during midday trading on Friday, reaching $31.82. The stock had a trading volume of 1,810,011 shares, compared to its average volume of 807,718. The firm has a market capitalization of $2.48 billion, a PE ratio of -212.13 and a beta of 1.80. Veracyte, Inc. has a 12 month low of $18.61 and a 12 month high of $47.32. The firm's 50-day moving average price is $38.72 and its 200 day moving average price is $37.61.

Veracyte (NASDAQ:VCYT - Get Free Report) last announced its quarterly 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 period in the prior year, the company posted ($0.39) EPS. Equities research analysts expect that Veracyte, Inc. will post 0.68 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VCYT. Needham & Company LLC reissued a "buy" rating and set a $51.00 price target on shares of Veracyte in a research report on Tuesday, February 25th. Guggenheim reissued a "buy" rating and set a $45.00 target price on shares of Veracyte in a research report on Tuesday, February 25th. Craig Hallum initiated coverage on Veracyte in a report on Thursday. They issued a "buy" rating and a $45.00 target price for the company. UBS Group increased their price target on Veracyte from $46.00 to $49.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Finally, StockNews.com cut Veracyte from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Veracyte presently has a consensus rating of "Moderate Buy" and an average price target of $43.22.

Insider Activity at Veracyte

In other Veracyte news, Director Karin Eastham sold 10,000 shares of Veracyte stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total transaction of $403,000.00. Following the completion of the transaction, the director now owns 18,497 shares of the company's stock, valued at $745,429.10. The trade was a 35.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by corporate insiders.

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.