Short Interest in Veracyte, Inc. (NASDAQ:VCYT) Increases By 26.4%

Veracyte, Inc. (NASDAQ:VCYT - Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 4,170,000 shares, an increase of 26.4% from the March 15th total of 3,300,000 shares. Approximately 5.5% of the shares of the stock are short sold. Based on an average daily volume of 972,000 shares, the short-interest ratio is presently 4.3 days.

Veracyte Trading Down 1.2 %

Veracyte stock opened at $31.14 on Friday. The firm has a market cap of $2.43 billion, a P/E ratio of -207.60 and a beta of 2.03. Veracyte has a 1-year low of $19.09 and a 1-year high of $47.32. The firm has a 50-day moving average of $33.15 and a 200-day moving average of $37.37.

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, topping the consensus estimate of $0.29 by $0.07. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The business had revenue of $118.63 million during the quarter, compared to analysts' expectations of $110.73 million. During the same quarter last year, the business posted ($0.39) EPS. Research analysts forecast that Veracyte will post 0.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on VCYT shares. Craig Hallum assumed coverage on Veracyte in a report on Thursday, March 20th. They set a "buy" rating and a $45.00 price objective on the stock. Guggenheim decreased their price target on shares of Veracyte from $45.00 to $37.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. UBS Group upped their price objective on shares of Veracyte from $46.00 to $49.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. StockNews.com cut shares of Veracyte from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, Stephens restated an "overweight" rating and set a $45.00 price target on shares of Veracyte in a research report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $42.60.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its stake in shares of 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. Arizona State Retirement System boosted its position in Veracyte by 1.2% during the 4th quarter. Arizona State Retirement System now owns 22,276 shares of the biotechnology company's stock valued at $882,000 after acquiring an additional 264 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of Veracyte by 1.2% during the 4th quarter. Synovus Financial Corp now owns 23,132 shares of the biotechnology company's stock worth $916,000 after acquiring an additional 267 shares during the period. HighTower Advisors LLC raised its position in shares of Veracyte by 1.9% in the 4th quarter. HighTower Advisors LLC now owns 16,630 shares of the biotechnology company's stock worth $659,000 after acquiring an additional 305 shares in the last quarter. Finally, Principal Securities Inc. lifted its stake in shares of Veracyte by 34.1% in the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company's stock valued at $76,000 after purchasing an additional 485 shares during the period.

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.

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