MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $7.61 Million Position in Veracyte, Inc. (NASDAQ:VCYT)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,151 shares of the biotechnology company’s stock after selling 16,995 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.25% of Veracyte worth $7,611,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its stake in Veracyte by 49.7% during the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock worth $28,000 after buying an additional 237 shares in the last quarter. US Bancorp DE boosted its stake in Veracyte by 57.4% during the fourth quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock worth $70,000 after buying an additional 647 shares in the last quarter. Principal Securities Inc. boosted 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 in the last quarter. Venturi Wealth Management LLC acquired a new stake in Veracyte during the fourth quarter worth $91,000. Finally, Sterling Capital Management LLC boosted its stake in shares of Veracyte by 810.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,421 shares of the biotechnology company’s stock valued at $96,000 after purchasing an additional 2,155 shares in the last quarter.

Analyst Upgrades and Downgrades

VCYT has been the topic of several recent analyst reports. StockNews.com downgraded shares of Veracyte from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Stephens restated an “overweight” rating and issued a $45.00 target price on shares of Veracyte in a research note on Wednesday, March 26th. Craig Hallum initiated coverage on shares of Veracyte in a research note on Thursday, March 20th. They issued a “buy” rating and a $45.00 target price on the stock. Needham & Company LLC reduced their target price on shares of Veracyte from $51.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Finally, Guggenheim reduced their target price on shares of Veracyte from $45.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.90.

Veracyte Stock Up 2.5%

Shares of NASDAQ VCYT opened at $29.20 on Friday. The firm’s 50-day simple moving average is $30.79 and its 200 day simple moving average is $36.96. The company 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 12-month low of $19.73 and a 12-month high of $47.32.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.07. The firm had revenue of $118.63 million during the quarter, compared to analysts’ expectations of $110.73 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. During the same period in the previous year, the business posted ($0.39) EPS. On average, equities analysts expect that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Veracyte 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.