ARK Investment Management LLC Acquires 62,011 Shares of Veracyte, Inc. (NASDAQ:VCYT)

ARK Investment Management LLC raised its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,655,603 shares of the biotechnology company’s stock after buying an additional 62,011 shares during the quarter. Veracyte accounts for approximately 1.2% of ARK Investment Management LLC’s holdings, making the stock its 23rd biggest holding. ARK Investment Management LLC owned approximately 10.48% of Veracyte worth $210,606,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Veracyte in the 4th quarter valued at $9,586,000. Diversified Trust Co boosted its stake in shares of Veracyte by 4.0% in the 4th quarter. Diversified Trust Co now owns 14,810 shares of the biotechnology company’s stock valued at $407,000 after purchasing an additional 575 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Veracyte by 16.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 93,901 shares of the biotechnology company’s stock valued at $2,583,000 after purchasing an additional 13,482 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Veracyte by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 7,065,512 shares of the biotechnology company’s stock valued at $157,773,000 after purchasing an additional 21,385 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Veracyte by 11.8% in the 3rd quarter. Deutsche Bank AG now owns 40,656 shares of the biotechnology company’s stock valued at $908,000 after purchasing an additional 4,277 shares in the last quarter.

Veracyte Stock Performance

Veracyte stock opened at $21.72 on Thursday. Veracyte, Inc. has a 1 year low of $19.52 and a 1 year high of $30.52. The company’s 50-day moving average is $23.91 and its two-hundred day moving average is $24.31.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Morgan Stanley reduced their target price on shares of Veracyte from $22.00 to $21.00 and set an “underweight” rating on the stock in a research note on Monday, February 26th. Needham & Company LLC upped their price target on shares of Veracyte from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Finally, William Blair reiterated an “outperform” rating on shares of Veracyte in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $30.00.

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.