Envestnet Asset Management Inc. Sells 1,182 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Envestnet Asset Management Inc. lessened its stake in Veracyte, Inc. (NASDAQ:VCYT) by 1.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 75,010 shares of the biotechnology company’s stock after selling 1,182 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Veracyte were worth $2,970,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of VCYT. Jones Financial Companies Lllp raised its holdings in Veracyte by 49.7% in the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock worth $28,000 after buying an additional 237 shares during the last quarter. US Bancorp DE increased its position in shares of Veracyte by 57.4% during the fourth quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock valued at $70,000 after acquiring an additional 647 shares in the last quarter. Principal Securities Inc. raised its holdings in Veracyte by 34.1% in the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock worth $76,000 after acquiring an additional 485 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Veracyte in the 4th quarter valued at approximately $91,000. Finally, KBC Group NV boosted its stake in Veracyte by 44.6% during the 4th quarter. KBC Group NV now owns 3,872 shares of the biotechnology company’s stock valued at $153,000 after purchasing an additional 1,195 shares during the last quarter.

Veracyte Trading Up 0.3 %

Shares of NASDAQ VCYT opened at $32.23 on Friday. Veracyte, Inc. has a 12-month low of $19.16 and a 12-month high of $47.32. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of -214.87 and a beta of 2.03. The firm has a 50 day moving average of $32.25 and a 200 day moving average of $37.28.

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, beating analysts’ consensus estimates 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 negative net margin of 2.18% and a positive return on equity of 3.02%. During the same quarter in the previous year, the firm posted ($0.39) EPS. Sell-side analysts predict that Veracyte, Inc. will post 0.68 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Guggenheim decreased their price target on Veracyte from $45.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Stephens reissued an “overweight” rating and issued a $45.00 target price on shares of Veracyte in a research report on Wednesday, March 26th. Craig Hallum initiated coverage on shares of Veracyte in a research note on Thursday, March 20th. They set a “buy” rating and a $45.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $51.00 price target on shares of Veracyte in a research note on Tuesday, February 25th. Finally, UBS Group increased their price objective on shares of Veracyte from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.60.

Veracyte Company 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.