Vinva Investment Management Ltd Cuts Stock Position in Veracyte, Inc. (NASDAQ:VCYT)

Vinva Investment Management Ltd lowered its stake in Veracyte, Inc. (NASDAQ:VCYT) by 41.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,929 shares of the biotechnology company’s stock after selling 6,337 shares during the period. Vinva Investment Management Ltd’s holdings in Veracyte were worth $354,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in VCYT. Jennison Associates LLC grew its stake in shares of Veracyte by 116.3% in the 4th quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company’s stock worth $33,017,000 after buying an additional 448,251 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Veracyte in the 3rd quarter worth approximately $9,498,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Veracyte by 288.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 360,871 shares of the biotechnology company’s stock valued at $12,284,000 after purchasing an additional 268,000 shares during the last quarter. Jane Street Group LLC boosted its stake in Veracyte by 276.4% during the 3rd quarter. Jane Street Group LLC now owns 301,652 shares of the biotechnology company’s stock valued at $10,268,000 after purchasing an additional 221,504 shares during the last quarter. Finally, Castleark Management LLC purchased a new stake in Veracyte during the 3rd quarter valued at $6,010,000.

Insider Buying and Selling

In related news, Director Karin Eastham sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was 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 of the company’s stock, valued at approximately $745,429.10. This trade represents a 35.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

VCYT has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $51.00 target price on shares of Veracyte in a research note on Tuesday, February 25th. Craig Hallum initiated coverage on Veracyte in a research note on Thursday. They set a “buy” rating and a $45.00 target price on the stock. UBS Group increased their target price on Veracyte from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Guggenheim reiterated a “buy” rating and set a $45.00 target price on shares of Veracyte in a research note on Tuesday, February 25th. Finally, StockNews.com cut Veracyte from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Veracyte presently has an average rating of “Moderate Buy” and an average price target of $43.22.

Veracyte Price Performance

NASDAQ VCYT opened at $31.82 on Friday. The business’s fifty day moving average price is $38.53 and its 200-day moving average price is $37.61. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -212.13 and a beta of 1.80. Veracyte, Inc. has a 1-year low of $18.61 and a 1-year high of $47.32.

Veracyte (NASDAQ:VCYT) last announced its earnings results on Monday, February 24th. The biotechnology company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $118.63 million for the quarter, compared to analysts’ expectations of $110.73 million. During the same period last year, the firm earned ($0.39) EPS. Equities research analysts anticipate that Veracyte, Inc. will post 0.68 EPS for the current year.

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.