Fisher Asset Management LLC Sells 130,958 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Fisher Asset Management LLC lowered its position in Veracyte, Inc. (NASDAQ:VCYT) by 13.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 874,471 shares of the biotechnology company’s stock after selling 130,958 shares during the quarter. Fisher Asset Management LLC’s holdings in Veracyte were worth $24,057,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in Veracyte in the third quarter worth $390,000. Asset Management One Co. Ltd. acquired a new stake in shares of Veracyte during the 3rd quarter valued at about $84,000. Bank of New York Mellon Corp boosted its position in shares of Veracyte by 15.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 296,847 shares of the biotechnology company’s stock valued at $6,629,000 after acquiring an additional 39,440 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Veracyte by 12.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,430 shares of the biotechnology company’s stock valued at $434,000 after acquiring an additional 2,185 shares during the period. Finally, Strs Ohio raised its position in Veracyte by 2.4% in the third quarter. Strs Ohio now owns 34,700 shares of the biotechnology company’s stock worth $774,000 after purchasing an additional 800 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Needham & Company LLC lifted their price objective on Veracyte from $30.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Morgan Stanley cut their price objective on Veracyte from $22.00 to $21.00 and set an “underweight” rating for the company in a report on Monday, February 26th. William Blair reaffirmed an “outperform” rating on shares of Veracyte in a report on Friday, February 23rd. Finally, The Goldman Sachs Group dropped their target price on shares of Veracyte from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Veracyte presently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

Insiders Place Their Bets

In other Veracyte news, Director Karin Eastham sold 10,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $21.65, for a total value of $216,500.00. Following the completion of the transaction, the director now directly owns 33,125 shares of the company’s stock, valued at $717,156.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.60% of the company’s stock.

Veracyte Price Performance

VCYT stock opened at $20.35 on Friday. The business has a fifty day moving average price of $21.19 and a 200 day moving average price of $23.82. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $30.52. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -19.76 and a beta of 1.65.

Veracyte (NASDAQ:VCYT) last announced its earnings results on Thursday, February 22nd. The biotechnology company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. Veracyte had a negative return on equity of 2.02% and a negative net margin of 20.61%. The company had revenue of $98.20 million for the quarter, compared to analysts’ expectations of $95.49 million. On average, equities analysts expect that Veracyte, Inc. will post -0.29 earnings per share for the current fiscal year.

Veracyte Profile

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.