Teacher Retirement System of Texas Boosts Stock Holdings in Veracyte, Inc. (NASDAQ:VCYT)

Teacher Retirement System of Texas increased its holdings in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 329.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 66,974 shares of the biotechnology company's stock after acquiring an additional 51,362 shares during the period. Teacher Retirement System of Texas owned approximately 0.09% of Veracyte worth $2,652,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VCYT. Intech Investment Management LLC acquired a new position in shares of Veracyte in the 3rd quarter valued at $723,000. Massachusetts Financial Services Co. MA purchased a new stake in Veracyte in the 3rd quarter valued at about $324,000. Cerity Partners LLC acquired a new position in Veracyte in the third quarter valued at about $431,000. Daiwa Securities Group Inc. boosted its position in shares of Veracyte by 2,188.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 6,087 shares of the biotechnology company's stock worth $207,000 after purchasing an additional 5,821 shares during the period. Finally, FMR LLC boosted its position in shares of Veracyte by 33.4% during the third quarter. FMR LLC now owns 65,977 shares of the biotechnology company's stock worth $2,246,000 after buying an additional 16,536 shares during the period.

Insider Activity at Veracyte

In other Veracyte news, Director Karin Eastham sold 10,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 18,497 shares of the company's stock, valued at approximately $745,429.10. This trade represents a 35.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by insiders.

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Veracyte Price Performance

Shares of VCYT traded down $0.98 during mid-day trading on Friday, reaching $30.12. 710,014 shares of the company's stock were exchanged, compared to its average volume of 835,914. The business's fifty day simple moving average is $37.57 and its 200-day simple moving average is $37.75. The stock has a market capitalization of $2.35 billion, a PE ratio of -200.80 and a beta of 1.80. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $47.32.

Veracyte (NASDAQ:VCYT - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $110.73 million. During the same period last year, the firm posted ($0.39) EPS. Equities research analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. StockNews.com downgraded Veracyte from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. Craig Hallum began coverage on shares of Veracyte in a research report on Thursday, March 20th. They set a "buy" rating and a $45.00 price target on the stock. 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 note on Tuesday, February 25th. Guggenheim reaffirmed a "buy" rating and set a $45.00 target price on shares of Veracyte in a research note on Tuesday, February 25th. Finally, Stephens reissued an "overweight" rating and issued a $45.00 price target on shares of Veracyte in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $43.40.

Veracyte 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.