New York State Common Retirement Fund Has $23.04 Million Holdings in Veracyte, Inc. (NASDAQ:VCYT)

New York State Common Retirement Fund trimmed its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 7.7% during the fourth quarter, Holdings Channel reports. The firm owned 837,467 shares of the biotechnology company’s stock after selling 69,814 shares during the period. New York State Common Retirement Fund’s holdings in Veracyte were worth $23,039,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in VCYT. CWM LLC boosted its holdings in Veracyte by 533.0% during the third quarter. CWM LLC now owns 2,146 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 1,807 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Veracyte during the third quarter valued at approximately $390,000. Exchange Traded Concepts LLC boosted its holdings in Veracyte by 17.5% during the third quarter. Exchange Traded Concepts LLC now owns 80,419 shares of the biotechnology company’s stock valued at $1,796,000 after purchasing an additional 11,966 shares in the last quarter. Asset Management One Co. Ltd. acquired a new stake in Veracyte during the third quarter valued at approximately $84,000. Finally, Handelsbanken Fonder AB boosted its holdings in Veracyte by 46.1% during the third quarter. Handelsbanken Fonder AB now owns 21,006 shares of the biotechnology company’s stock valued at $469,000 after purchasing an additional 6,631 shares in the last quarter.

Analyst Ratings Changes

A number of research firms have weighed in on VCYT. The Goldman Sachs Group decreased their price objective on Veracyte from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, April 15th. William Blair reissued an “outperform” rating on shares of Veracyte in a report on Friday, February 23rd. Needham & Company LLC boosted their target price on Veracyte from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.00.

Insiders Place Their Bets

In other Veracyte news, Director Karin Eastham sold 10,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $21.65, for a total transaction of $216,500.00. Following the completion of the sale, the director now owns 33,125 shares in the company, valued at approximately $717,156.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

Veracyte Stock Performance

NASDAQ:VCYT opened at $19.31 on Friday. The stock’s fifty day moving average price is $21.60 and its two-hundred day moving average price is $23.86. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $30.52. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -18.75 and a beta of 1.62.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported ($0.04) earnings per share (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 firm had revenue of $98.20 million for the quarter, compared to the consensus estimate of $95.49 million. On average, equities analysts predict that Veracyte, Inc. will post -0.29 EPS 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.