Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,204 shares of the biotechnology company’s stock after selling 2,885 shares during the quarter. Corebridge Financial Inc.’s holdings in Veracyte were worth $1,513,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Veracyte by 6.0% in the 4th quarter. Vanguard Group Inc. now owns 8,211,612 shares of the biotechnology company’s stock valued at $325,180,000 after purchasing an additional 463,098 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Veracyte in the 4th quarter valued at $610,000. Sei Investments Co. increased its stake in Veracyte by 33.7% in the 4th quarter. Sei Investments Co. now owns 360,106 shares of the biotechnology company’s stock valued at $14,260,000 after buying an additional 90,863 shares during the period. American Century Companies Inc. raised its position in Veracyte by 66.8% during the 4th quarter. American Century Companies Inc. now owns 11,885 shares of the biotechnology company’s stock worth $471,000 after buying an additional 4,761 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Veracyte by 329.0% in the fourth quarter. Teacher Retirement System of Texas now owns 66,974 shares of the biotechnology company’s stock valued at $2,652,000 after acquiring an additional 51,362 shares in the last quarter.

Veracyte Trading Up 1.9 %

NASDAQ:VCYT opened at $30.13 on Thursday. The company has a market capitalization of $2.35 billion, a P/E ratio of -200.87 and a beta of 1.80. The firm has a 50-day moving average price of $36.81 and a two-hundred day moving average price of $37.72. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $47.32.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (EPS) 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 the consensus estimate 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 firm posted ($0.39) EPS. On average, equities research analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VCYT. Stephens restated an “overweight” rating and issued a $45.00 price objective on shares of Veracyte in a research report on Wednesday, March 26th. UBS Group raised their price target on Veracyte from $46.00 to $49.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Guggenheim reaffirmed a “buy” rating and set a $45.00 price objective on shares of Veracyte in a report on Tuesday, February 25th. Needham & Company LLC reissued a “buy” rating and issued a $51.00 target price on shares of Veracyte in a report on Tuesday, February 25th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $37.00 price target (down from $38.00) on shares of Veracyte in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.40.

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.