Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. reduced its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 21.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,565 shares of the biotechnology company’s stock after selling 2,348 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Veracyte were worth $236,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of VCYT. China Universal Asset Management Co. Ltd. raised its holdings in Veracyte by 96.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,862 shares of the biotechnology company’s stock worth $42,000 after buying an additional 913 shares during the period. OLD National Bancorp IN acquired a new stake in shares of Veracyte during the 4th quarter valued at $205,000. Assetmark Inc. grew its holdings in shares of Veracyte by 16.9% during the 3rd quarter. Assetmark Inc. now owns 8,573 shares of the biotechnology company’s stock valued at $191,000 after acquiring an additional 1,239 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Veracyte in the fourth quarter worth $264,000. Finally, Inspire Investing LLC purchased a new stake in shares of Veracyte during the third quarter worth $307,000.

Insiders Place Their Bets

In other Veracyte news, Director Karin Eastham sold 10,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $21.65, for a total value of $216,500.00. Following the completion of the sale, the director now directly owns 33,125 shares of the company’s stock, valued at approximately $717,156.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

VCYT has been the topic of several research reports. Needham & Company LLC dropped their target price on Veracyte from $33.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday. William Blair restated an “outperform” rating on shares of Veracyte in a report on Friday, February 23rd. The Goldman Sachs Group decreased their price objective on shares of Veracyte from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, April 15th. Finally, Morgan Stanley cut their target price on Veracyte from $22.00 to $21.00 and set an “underweight” rating on the stock in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.50.

Veracyte Stock Performance

Shares of Veracyte stock traded up $0.51 on Thursday, reaching $20.63. The stock had a trading volume of 746,995 shares, compared to its average volume of 640,848. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $30.52. The business’s 50-day moving average price is $21.01 and its two-hundred day moving average price is $23.82. The stock has a market cap of $1.58 billion, a P/E ratio of -21.69 and a beta of 1.65.

Veracyte (NASDAQ:VCYT) last released its earnings results on Tuesday, May 7th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.17. The firm had revenue of $96.84 million during the quarter, compared to analyst estimates of $93.35 million. Veracyte had a negative net margin of 20.61% and a negative return on equity of 2.02%. The business’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.11) EPS. As a group, equities analysts forecast that Veracyte, Inc. will post -0.29 earnings per share for the current fiscal year.

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.