Fisher Asset Management LLC Sells 130,268 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Fisher Asset Management LLC lessened its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 13.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 875,161 shares of the biotechnology company’s stock after selling 130,268 shares during the period. Fisher Asset Management LLC owned about 1.17% of Veracyte worth $24,076,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Diversified Trust Co grew its holdings in shares of Veracyte by 4.0% during the fourth quarter. Diversified Trust Co now owns 14,810 shares of the biotechnology company’s stock worth $407,000 after purchasing an additional 575 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Veracyte by 3.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,141 shares of the biotechnology company’s stock worth $554,000 after purchasing an additional 711 shares during the last quarter. Synovus Financial Corp grew its holdings in shares of Veracyte by 8.9% during the third quarter. Synovus Financial Corp now owns 15,598 shares of the biotechnology company’s stock worth $348,000 after purchasing an additional 1,279 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Veracyte by 2.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,801 shares of the biotechnology company’s stock worth $1,246,000 after purchasing an additional 1,589 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Veracyte by 1.6% during the third quarter. Rhumbline Advisers now owns 118,379 shares of the biotechnology company’s stock worth $2,643,000 after purchasing an additional 1,833 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently commented on VCYT shares. The Goldman Sachs Group reduced their target price on Veracyte from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, April 15th. Morgan Stanley reduced their target price on Veracyte from $22.00 to $21.00 and set an “underweight” rating on the stock in a report on Monday, February 26th. William Blair reiterated an “outperform” rating on shares of Veracyte in a report on Friday, February 23rd. Finally, Needham & Company LLC reduced their target price on Veracyte from $33.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.50.

Insider Transactions at Veracyte

In other news, Director Muna Bhanji sold 3,870 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $20.32, for a total transaction of $78,638.40. Following the transaction, the director now directly owns 23,105 shares of the company’s stock, valued at $469,493.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Muna Bhanji sold 3,870 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $20.32, for a total transaction of $78,638.40. Following the transaction, the director now directly owns 23,105 shares of the company’s stock, valued at $469,493.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karin Eastham sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $21.65, for a total value of $216,500.00. Following the transaction, the director now directly owns 33,125 shares in the company, valued at $717,156.25. The disclosure for this sale can be found here. Insiders have sold 17,909 shares of company stock valued at $379,882 over the last ninety days. 1.30% of the stock is owned by company insiders.

Veracyte Stock Performance

Shares of VCYT opened at $21.41 on Wednesday. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $30.52. The business’s 50 day moving average price is $20.88 and its two-hundred day moving average price is $23.40. The firm has a market cap of $1.64 billion, a PE ratio of -22.78 and a beta of 1.70.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.17. Veracyte had a negative return on equity of 1.42% and a negative net margin of 18.16%. The firm had revenue of $96.84 million for the quarter, compared to analyst estimates of $93.35 million. During the same period in the previous year, the firm earned ($0.11) earnings per share. The company’s revenue was up 17.5% compared to the same quarter last year. Research analysts predict that Veracyte, Inc. will post -0.05 EPS for the current fiscal year.

About Veracyte

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.