Mirae Asset Global Investments Co. Ltd. Reduces Position in Veracyte, Inc. (NASDAQ:VCYT)

Mirae Asset Global Investments Co. Ltd. lessened its holdings in shares of Veracyte, Inc. (NASDAQ:VCYTGet Rating) by 14.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 440,782 shares of the biotechnology company’s stock after selling 73,702 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.62% of Veracyte worth $12,152,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Teacher Retirement System of Texas boosted its position in shares of Veracyte by 4.7% during the first quarter. Teacher Retirement System of Texas now owns 14,482 shares of the biotechnology company’s stock valued at $399,000 after buying an additional 650 shares during the period. Lazard Asset Management LLC boosted its position in shares of Veracyte by 46.3% during the first quarter. Lazard Asset Management LLC now owns 3,410 shares of the biotechnology company’s stock valued at $94,000 after buying an additional 1,079 shares during the period. Royal Bank of Canada boosted its position in shares of Veracyte by 3.6% during the first quarter. Royal Bank of Canada now owns 30,866 shares of the biotechnology company’s stock valued at $850,000 after buying an additional 1,082 shares during the period. Advisor Group Holdings Inc. boosted its holdings in shares of Veracyte by 21.8% in the fourth quarter. Advisor Group Holdings Inc. now owns 6,092 shares of the biotechnology company’s stock valued at $252,000 after purchasing an additional 1,090 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Veracyte in the first quarter valued at approximately $33,000.

Veracyte Price Performance

VCYT opened at $18.63 on Tuesday. The business’s 50-day moving average is $23.24 and its two-hundred day moving average is $22.34. Veracyte, Inc. has a 1 year low of $14.85 and a 1 year high of $54.13. The firm has a market capitalization of $1.33 billion, a PE ratio of -27.40 and a beta of 1.17.

Veracyte (NASDAQ:VCYTGet Rating) last posted its earnings results on Tuesday, August 2nd. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.08. Veracyte had a negative return on equity of 4.05% and a negative net margin of 18.13%. The company had revenue of $72.86 million for the quarter, compared to analyst estimates of $67.37 million. As a group, sell-side analysts expect that Veracyte, Inc. will post -0.8 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on VCYT shares. Needham & Company LLC boosted their price target on Veracyte from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Raymond James boosted their price target on Veracyte from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.50.

Veracyte Profile

(Get Rating)

Veracyte, Inc operates as a diagnostics company worldwide. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas, which are used to determine patients with indeterminate results are benign to avoid unnecessary surgery; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Genomic Sequencing Classifier and Percepta Nasal Swab Test for lung cancer diagnosis; Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis; and Immunoscore Colon Cancer test for colon cancer diagnosis.

See Also

Institutional Ownership by Quarter for Veracyte (NASDAQ:VCYT)

Receive News & Ratings for Veracyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veracyte and related companies with MarketBeat.com's FREE daily email newsletter.