Veracyte, Inc. (NASDAQ:VCYT) Shares Acquired by Gotham Asset Management LLC

Gotham Asset Management LLC increased its position in Veracyte, Inc. (NASDAQ:VCYT) by 21.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,057 shares of the biotechnology company’s stock after buying an additional 3,549 shares during the quarter. Gotham Asset Management LLC’s holdings in Veracyte were worth $794,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes 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 during the period. Arizona State Retirement System raised its holdings in Veracyte by 1.2% in the fourth quarter. Arizona State Retirement System now owns 22,276 shares of the biotechnology company’s stock valued at $882,000 after buying an additional 264 shares during the period. Synovus Financial Corp raised its holdings in Veracyte by 1.2% in the fourth quarter. Synovus Financial Corp now owns 23,132 shares of the biotechnology company’s stock valued at $916,000 after buying an additional 267 shares during the period. HighTower Advisors LLC lifted its position in Veracyte by 1.9% during the fourth quarter. HighTower Advisors LLC now owns 16,630 shares of the biotechnology company’s stock valued at $659,000 after buying an additional 305 shares in the last quarter. Finally, Principal Securities Inc. grew its stake in Veracyte by 34.1% during the fourth quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock worth $76,000 after buying an additional 485 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. UBS Group cut their target price on shares of Veracyte from $49.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Guggenheim cut their price objective on Veracyte from $45.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Craig Hallum began coverage on Veracyte in a research report on Thursday, March 20th. They issued a “buy” rating and a $45.00 target price for the company. Needham & Company LLC dropped their target price on Veracyte from $51.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Finally, StockNews.com lowered Veracyte from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Veracyte has an average rating of “Moderate Buy” and an average price target of $40.90.

Veracyte Stock Performance

NASDAQ:VCYT opened at $29.20 on Monday. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of -194.67 and a beta of 2.14. Veracyte, Inc. has a one year low of $19.73 and a one year high of $47.32. The business’s 50-day simple moving average is $30.79 and its 200 day simple moving average is $36.96.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The business 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 quarter last year, the company earned ($0.39) earnings per share. On average, equities research analysts predict 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.