Veracyte, Inc. (NASDAQ:VCYT) Position Lessened by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 33.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,538 shares of the biotechnology company's stock after selling 28,905 shares during the period. Victory Capital Management Inc. owned approximately 0.07% of Veracyte worth $2,239,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. KBC Group NV increased its holdings 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. Cornercap Investment Counsel Inc. acquired a new stake in shares of Veracyte in the third quarter valued at approximately $290,000. Caprock Group LLC purchased a new position in shares of Veracyte during the 3rd quarter worth approximately $252,000. Phocas Financial Corp. acquired a new position in shares of Veracyte during the 3rd quarter worth approximately $1,788,000. Finally, Segall Bryant & Hamill LLC lifted its stake in Veracyte by 19.0% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 444,299 shares of the biotechnology company's stock valued at $15,124,000 after buying an additional 71,086 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have weighed in on VCYT shares. Guggenheim reissued a "buy" rating and set a $45.00 price target on shares of Veracyte in a research report on Tuesday, February 25th. The Goldman Sachs Group reiterated a "neutral" rating and set a $37.00 price objective (down previously from $38.00) on shares of Veracyte in a research report on Thursday, December 5th. Craig Hallum assumed coverage on shares of Veracyte in a report on Thursday. They issued a "buy" rating and a $45.00 target price on the stock. UBS Group lifted their price target on shares of Veracyte from $46.00 to $49.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Finally, Needham & Company LLC reissued a "buy" rating and set a $51.00 price objective on shares of Veracyte in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $43.22.

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Insiders Place Their Bets

In other news, Director Karin Eastham sold 10,000 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total value of $403,000.00. Following the transaction, the director now directly owns 18,497 shares in the company, valued at approximately $745,429.10. This trade represents a 35.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Veracyte Stock Up 0.0 %

Shares of VCYT stock traded up $0.01 on Friday, reaching $31.85. 684,550 shares of the stock were exchanged, compared to its average volume of 807,713. Veracyte, Inc. has a 1-year low of $18.61 and a 1-year high of $47.32. The stock has a market cap of $2.48 billion, a P/E ratio of -212.30 and a beta of 1.80. The firm has a 50 day moving average of $38.72 and a two-hundred day moving average of $37.61.

Veracyte (NASDAQ:VCYT - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.07. The firm had revenue of $118.63 million for the quarter, compared to analysts' expectations 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 period in the previous year, the company posted ($0.39) earnings per share. On average, equities research analysts predict that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.

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.