Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 5.6% in the fourth quarter, Holdings Channel reports. The firm owned 394,114 shares of the biotechnology company’s stock after selling 23,438 shares during the period. Jennison Associates LLC’s holdings in Veracyte were worth $10,842,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. OLD National Bancorp IN purchased a new stake in Veracyte during the 4th quarter worth $205,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Veracyte by 3.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,141 shares of the biotechnology company’s stock valued at $554,000 after buying an additional 711 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in Veracyte by 353.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,448 shares of the biotechnology company’s stock worth $232,000 after acquiring an additional 6,586 shares in the last quarter. ARK Investment Management LLC boosted its holdings in Veracyte by 0.8% in the 4th quarter. ARK Investment Management LLC now owns 7,655,603 shares of the biotechnology company’s stock worth $210,606,000 after acquiring an additional 62,011 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Veracyte in the fourth quarter valued at approximately $9,586,000.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on VCYT shares. Needham & Company LLC upped their target price on shares of Veracyte from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Morgan Stanley cut their price target on Veracyte from $22.00 to $21.00 and set an “underweight” rating on the stock in a research note on Monday, February 26th. William Blair restated an “outperform” rating on shares of Veracyte in a research note on Friday, February 23rd. Finally, The Goldman Sachs Group cut their target price on Veracyte from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.00.

Veracyte Price Performance

Shares of Veracyte stock opened at $19.48 on Friday. The business has a 50-day moving average price of $21.70 and a 200 day moving average price of $23.88. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $30.52.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The business had revenue of $98.20 million during the quarter, compared to the consensus estimate of $95.49 million. Veracyte had a negative return on equity of 2.02% and a negative net margin of 20.61%. On average, equities analysts forecast that Veracyte, Inc. will post -0.29 EPS for the current fiscal year.

Insider Buying and Selling at Veracyte

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

Veracyte Company 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.