Teachers Retirement System of The State of Kentucky raised its holdings in Veracyte, Inc. (NASDAQ:VCYT – Get Rating) by 17.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,318 shares of the biotechnology company's stock after acquiring an additional 4,324 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Veracyte were worth $808,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Teacher Retirement System of Texas lifted its holdings in Veracyte by 4.7% in the first quarter. Teacher Retirement System of Texas now owns 14,482 shares of the biotechnology company's stock valued at $399,000 after acquiring an additional 650 shares during the period. Lazard Asset Management LLC lifted its holdings in Veracyte by 46.3% in the first quarter. Lazard Asset Management LLC now owns 3,410 shares of the biotechnology company's stock valued at $94,000 after acquiring an additional 1,079 shares during the period. Royal Bank of Canada lifted its holdings in Veracyte by 3.6% in the first quarter. Royal Bank of Canada now owns 30,866 shares of the biotechnology company's stock valued at $850,000 after acquiring an additional 1,082 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Veracyte in the first quarter valued at $33,000. Finally, Blair William & Co. IL lifted its holdings in Veracyte by 1.6% in the fourth quarter. Blair William & Co. IL now owns 76,786 shares of the biotechnology company's stock valued at $3,164,000 after acquiring an additional 1,229 shares during the period.
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Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the company. Raymond James raised their price target on Veracyte from $30.00 to $31.00 and gave the company an "outperform" rating in a research report on Thursday, August 4th. Needham & Company LLC raised their price target on Veracyte from $26.00 to $31.00 and gave the company a "buy" rating in a research report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $42.50.
Veracyte Trading Down 0.8 %
Veracyte stock opened at $16.58 on Friday. The stock has a market cap of $1.19 billion, a PE ratio of -24.38 and a beta of 1.17. The stock has a 50-day moving average price of $22.53 and a 200 day moving average price of $22.13. Veracyte, Inc. has a 52 week low of $14.85 and a 52 week high of $54.13.
Veracyte (NASDAQ:VCYT – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The biotechnology company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.21) by $0.08. The firm had revenue of $72.86 million during the quarter, compared to analysts' expectations of $67.37 million. Veracyte had a negative return on equity of 4.05% and a negative net margin of 18.13%. On average, equities analysts predict that Veracyte, Inc. will post -0.8 EPS for the current year.
Veracyte Profile
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Veracyte, Inc operates as a diagnostics company worldwide. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas, which are used to determine patients with indeterminate results are benign to avoid unnecessary surgery; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Genomic Sequencing Classifier and Percepta Nasal Swab Test for lung cancer diagnosis; Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis; and Immunoscore Colon Cancer test for colon cancer diagnosis.
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