Raymond James Financial Inc. purchased a new position in Veracyte, Inc. (NASDAQ:VCYT - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 41,064 shares of the biotechnology company's stock, valued at approximately $1,626,000. Raymond James Financial Inc. owned 0.05% of Veracyte at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp lifted its position in Veracyte by 0.3% in the third quarter. State Street Corp now owns 2,916,515 shares of the biotechnology company's stock worth $99,278,000 after purchasing an additional 7,920 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Veracyte by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,844,713 shares of the biotechnology company's stock valued at $62,806,000 after buying an additional 17,921 shares during the period. Jennison Associates LLC lifted its holdings in shares of Veracyte by 116.3% in the fourth quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company's stock valued at $33,017,000 after buying an additional 448,251 shares during the period. New York State Common Retirement Fund boosted its stake in Veracyte by 0.4% during the fourth quarter. New York State Common Retirement Fund now owns 785,971 shares of the biotechnology company's stock valued at $31,124,000 after buying an additional 3,111 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in Veracyte by 276.4% during the third quarter. Jane Street Group LLC now owns 301,652 shares of the biotechnology company's stock worth $10,268,000 after acquiring an additional 221,504 shares during the period.
Veracyte Trading Up 1.7 %
NASDAQ:VCYT traded up $0.48 on Friday, hitting $28.95. 1,305,961 shares of the company's stock traded hands, compared to its average volume of 843,095. The firm has a 50-day moving average price of $36.20 and a 200-day moving average price of $37.67. The company has a market cap of $2.26 billion, a PE ratio of -193.00 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 quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. The firm had revenue of $118.63 million for the quarter, compared to analyst estimates of $110.73 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. During the same quarter in the prior year, the business earned ($0.39) EPS. On average, research analysts forecast that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.
Analysts Set New Price Targets
Several research firms have recently weighed in on VCYT. UBS Group raised their price objective on shares of Veracyte from $46.00 to $49.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Guggenheim reaffirmed a "buy" rating and issued a $45.00 price target on shares of Veracyte in a report on Tuesday, February 25th. Stephens reissued an "overweight" rating and set a $45.00 price objective on shares of Veracyte in a research note on Wednesday, March 26th. Needham & Company LLC restated a "buy" rating and issued a $51.00 target price on shares of Veracyte in a report on Tuesday, February 25th. Finally, Craig Hallum began coverage on Veracyte in a report on Thursday, March 20th. They set a "buy" rating and a $45.00 target price for the company. 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 company. According to data from MarketBeat, Veracyte currently has a consensus rating of "Moderate Buy" and an average target price of $43.40.
Check Out Our Latest Report on Veracyte
Veracyte Company Profile
(
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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