Veracyte, Inc. (NASDAQ:VCYT) Stock Holdings Lowered by Corient Private Wealth LLC

Corient Private Wealth LLC reduced its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 8.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,245 shares of the biotechnology company’s stock after selling 11,545 shares during the quarter. Corient Private Wealth LLC owned 0.16% of Veracyte worth $4,801,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings in shares of Veracyte by 49.7% in the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 237 shares in the last quarter. US Bancorp DE increased its position in shares of Veracyte by 57.4% in the fourth quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock worth $70,000 after acquiring an additional 647 shares in the last quarter. Principal Securities Inc. increased its position in shares of Veracyte by 34.1% in the fourth quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock worth $76,000 after acquiring an additional 485 shares in the last quarter. KBC Group NV increased its position in shares of Veracyte by 13.7% in the third quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock worth $91,000 after acquiring an additional 323 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of Veracyte in the fourth quarter worth approximately $91,000.

Veracyte Stock Down 0.1 %

VCYT stock opened at $31.82 on Friday. The company 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 12 month low of $18.61 and a 12 month high of $47.32. The firm has a 50 day moving average of $38.53 and a two-hundred day moving average of $37.61.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Monday, February 24th. The biotechnology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. The company had revenue of $118.63 million during 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 in the previous year, the firm posted ($0.39) earnings per share. On average, research analysts expect that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Veracyte news, Director Karin Eastham sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total value of $403,000.00. Following the completion of the sale, the director now directly owns 18,497 shares of the company’s stock, valued at $745,429.10. The trade was a 35.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Veracyte from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Needham & Company LLC reissued a “buy” rating and issued a $51.00 target price on shares of Veracyte in a research report on Tuesday, February 25th. Guggenheim reissued a “buy” rating and issued a $45.00 target price on shares of Veracyte in a research report on Tuesday, February 25th. Craig Hallum began coverage on shares of Veracyte in a research report on Thursday. They issued a “buy” rating and a $45.00 target price on the stock. Finally, StockNews.com downgraded shares of Veracyte from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Veracyte currently has an average rating of “Moderate Buy” and an average price target of $43.22.

About Veracyte

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.