Connor Clark & Lunn Investment Management Ltd. Decreases Holdings in Veracyte, Inc. (NASDAQ:VCYT)

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 16.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,196 shares of the biotechnology company’s stock after selling 45,135 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.30% of Veracyte worth $6,944,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Synovus Financial Corp boosted its stake in shares of Veracyte by 1.2% during the 4th quarter. Synovus Financial Corp now owns 23,132 shares of the biotechnology company’s stock worth $916,000 after acquiring an additional 267 shares in the last quarter. Xponance Inc. boosted its stake in shares of Veracyte by 5.7% during the 1st quarter. Xponance Inc. now owns 6,860 shares of the biotechnology company’s stock worth $203,000 after acquiring an additional 370 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of Veracyte by 3.5% during the 1st quarter. Blair William & Co. IL now owns 16,092 shares of the biotechnology company’s stock worth $477,000 after acquiring an additional 550 shares in the last quarter. Sherbrooke Park Advisers LLC boosted its stake in shares of Veracyte by 7.0% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 9,493 shares of the biotechnology company’s stock worth $376,000 after acquiring an additional 618 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of Veracyte by 6.4% during the 4th quarter. Cerity Partners LLC now owns 13,486 shares of the biotechnology company’s stock worth $524,000 after acquiring an additional 814 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on VCYT shares. Wall Street Zen raised Veracyte from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. UBS Group reduced their target price on Veracyte from $49.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Morgan Stanley set a $28.00 target price on Veracyte and gave the company an “underweight” rating in a research note on Friday. Finally, Needham & Company LLC reduced their target price on Veracyte from $51.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.90.

Veracyte Stock Up 2.3%

Shares of Veracyte stock opened at $27.99 on Tuesday. Veracyte, Inc. has a fifty-two week low of $22.61 and a fifty-two week high of $47.32. The firm has a market cap of $2.20 billion, a PE ratio of 84.82 and a beta of 1.97. The business’s fifty day moving average is $26.11 and its two-hundred day moving average is $30.78.

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.