State of New Jersey Common Pension Fund D Has $2.09 Million Stake in Veracyte, Inc. (NASDAQ:VCYT)

State of New Jersey Common Pension Fund D reduced its holdings in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 31.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,354 shares of the biotechnology company's stock after selling 28,105 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.08% of Veracyte worth $2,088,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of VCYT. Vanguard Group Inc. raised its position in shares of Veracyte by 3.7% during the first quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company's stock worth $163,649,000 after purchasing an additional 266,660 shares during the period. Champlain Investment Partners LLC lifted its stake in Veracyte by 23.3% during the first quarter. Champlain Investment Partners LLC now owns 2,697,600 shares of the biotechnology company's stock valued at $59,779,000 after buying an additional 509,340 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Veracyte by 67.4% in the second quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company's stock worth $26,907,000 after buying an additional 500,020 shares during the period. Bamco Inc. NY increased its position in shares of Veracyte by 46.3% in the first quarter. Bamco Inc. NY now owns 1,115,806 shares of the biotechnology company's stock worth $24,726,000 after acquiring an additional 353,000 shares in the last quarter. Finally, Granite Investment Partners LLC raised its holdings in shares of Veracyte by 2.1% during the second quarter. Granite Investment Partners LLC now owns 934,994 shares of the biotechnology company's stock valued at $20,261,000 after acquiring an additional 19,244 shares during the period.

Veracyte Trading Down 3.0 %

Veracyte stock traded down $1.10 on Friday, reaching $35.94. 1,626,863 shares of the stock were exchanged, compared to its average volume of 782,741. The stock has a market cap of $2.79 billion, a PE ratio of -239.60 and a beta of 1.67. The firm has a fifty day moving average price of $34.06 and a two-hundred day moving average price of $27.61. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $41.43.

Veracyte (NASDAQ:VCYT - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.16. The company had revenue of $115.86 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.03) earnings per share. Equities analysts anticipate that Veracyte, Inc. will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on VCYT shares. Wolfe Research assumed coverage on Veracyte in a report on Friday. They set an "outperform" rating and a $50.00 price target on the stock. Morgan Stanley upped their target price on Veracyte from $21.00 to $26.00 and gave the company an "underweight" rating in a report on Monday, August 12th. UBS Group raised their price target on shares of Veracyte from $43.00 to $46.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. The Goldman Sachs Group upped their price objective on shares of Veracyte from $34.00 to $38.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, Scotiabank lifted their target price on shares of Veracyte from $40.00 to $44.00 and gave the company a "sector outperform" rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Veracyte has an average rating of "Moderate Buy" and a consensus price target of $41.00.

Veracyte 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.