Wellington Management Group LLP Decreases Holdings in Veracyte, Inc. (NASDAQ:VCYT)

Wellington Management Group LLP lowered its stake in Veracyte, Inc. (NASDAQ:VCYT) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,084,559 shares of the biotechnology company’s stock after selling 148,285 shares during the period. Wellington Management Group LLP owned approximately 5.24% of Veracyte worth $161,749,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in VCYT. Arrowstreet Capital Limited Partnership increased its position in shares of Veracyte by 134.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 635,110 shares of the biotechnology company’s stock valued at $25,150,000 after purchasing an additional 363,862 shares during the last quarter. Norges Bank bought a new position in Veracyte during the fourth quarter valued at $8,934,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in shares of Veracyte by 90.3% in the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 18,156 shares of the biotechnology company’s stock valued at $719,000 after acquiring an additional 8,615 shares during the period. Loomis Sayles & Co. L P purchased a new stake in shares of Veracyte in the fourth quarter valued at $16,224,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Veracyte by 25.5% in the 4th quarter. JPMorgan Chase & Co. now owns 434,971 shares of the biotechnology company’s stock worth $17,225,000 after acquiring an additional 88,384 shares during the last quarter.

Analyst Ratings Changes

VCYT has been the topic of a number of recent analyst reports. Craig Hallum began coverage on shares of Veracyte in a research report on Thursday, March 20th. They issued a “buy” rating and a $45.00 price objective on the stock. Guggenheim reiterated a “buy” rating and issued a $45.00 price target on shares of Veracyte in a report on Tuesday, February 25th. Stephens restated an “overweight” rating and set a $45.00 price objective on shares of Veracyte in a report on Wednesday, March 26th. Needham & Company LLC reiterated a “buy” rating and issued a $51.00 target price on shares of Veracyte in a research note on Tuesday, February 25th. Finally, UBS Group boosted their target price 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. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.40.

Veracyte Price Performance

Shares of Veracyte stock opened at $30.13 on Thursday. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of -200.87 and a beta of 2.03. The firm’s 50-day moving average is $36.81 and its two-hundred day moving average is $37.72. Veracyte, Inc. has a 1 year low of $18.61 and a 1 year high of $47.32.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (EPS) 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 the consensus estimate 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 last year, the firm earned ($0.39) earnings per share. On average, equities analysts expect that Veracyte, Inc. will post 0.68 earnings per share 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.