E Fund Management Co. Ltd. Sells 2,348 Shares of Veracyte, Inc. (NASDAQ:VCYT)

E Fund Management Co. Ltd. cut its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 21.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,565 shares of the biotechnology company’s stock after selling 2,348 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Veracyte were worth $236,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its holdings in shares of Veracyte by 96.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,862 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 913 shares during the last quarter. Assetmark Inc. increased its holdings in Veracyte by 16.9% during the 3rd quarter. Assetmark Inc. now owns 8,573 shares of the biotechnology company’s stock worth $191,000 after purchasing an additional 1,239 shares in the last quarter. OLD National Bancorp IN bought a new stake in Veracyte during the 4th quarter worth approximately $205,000. Los Angeles Capital Management LLC purchased a new stake in shares of Veracyte in the fourth quarter worth approximately $264,000. Finally, Inspire Investing LLC bought a new position in shares of Veracyte in the third quarter valued at approximately $307,000.

Insider Activity at Veracyte

In other Veracyte news, Director Karin Eastham sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $21.65, for a total value of $216,500.00. Following the completion of the transaction, the director now owns 33,125 shares of the company’s stock, valued at approximately $717,156.25. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. The Goldman Sachs Group reduced their price objective on Veracyte from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, April 15th. Needham & Company LLC cut their price target on Veracyte from $33.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday. Morgan Stanley lowered their price objective on Veracyte from $22.00 to $21.00 and set an “underweight” rating on the stock in a research note on Monday, February 26th. Finally, William Blair reiterated an “outperform” rating on shares of Veracyte in a research report on Friday, February 23rd. One 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 stock. According to data from MarketBeat.com, Veracyte has a consensus rating of “Moderate Buy” and a consensus price target of $27.50.

Veracyte Stock Up 2.5 %

Shares of VCYT stock traded up $0.51 on Thursday, reaching $20.63. The company’s stock had a trading volume of 746,995 shares, compared to its average volume of 640,848. The company has a market capitalization of $1.58 billion, a P/E ratio of -21.69 and a beta of 1.65. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $30.52. The stock’s 50 day simple moving average is $21.01 and its 200-day simple moving average is $23.82.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.17. The firm had revenue of $96.84 million for the quarter, compared to analysts’ expectations of $93.35 million. Veracyte had a negative return on equity of 2.02% and a negative net margin of 20.61%. During the same quarter last year, the firm posted ($0.11) EPS. The company’s revenue was up 17.5% compared to the same quarter last year. Research analysts expect that Veracyte, Inc. will post -0.29 EPS for the current year.

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.