Mirae Asset Global Investments Co. Ltd. Sells 251,865 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Mirae Asset Global Investments Co. Ltd. lowered its position in Veracyte, Inc. (NASDAQ:VCYT) by 47.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 280,062 shares of the biotechnology company’s stock after selling 251,865 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.38% of Veracyte worth $7,705,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its position in Veracyte by 353.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,448 shares of the biotechnology company’s stock valued at $232,000 after acquiring an additional 6,586 shares in the last quarter. ARK Investment Management LLC boosted its position in Veracyte by 0.8% during the 4th quarter. ARK Investment Management LLC now owns 7,655,603 shares of the biotechnology company’s stock valued at $210,606,000 after acquiring an additional 62,011 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Veracyte during the 4th quarter valued at $9,586,000. Diversified Trust Co boosted its position in Veracyte by 4.0% during the 4th quarter. Diversified Trust Co now owns 14,810 shares of the biotechnology company’s stock valued at $407,000 after acquiring an additional 575 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Veracyte by 16.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 93,901 shares of the biotechnology company’s stock valued at $2,583,000 after acquiring an additional 13,482 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have issued reports on VCYT. William Blair reaffirmed an “outperform” rating on shares of Veracyte in a research report on Friday, February 23rd. Morgan Stanley decreased their price objective on Veracyte from $22.00 to $21.00 and set an “underweight” rating for the company in a report on Monday, February 26th. Finally, Needham & Company LLC increased their price objective on Veracyte from $30.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Insider Buying and Selling

In related news, Director Karin Eastham sold 10,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was 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 in the company, valued at approximately $717,156.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Veracyte Stock Performance

Shares of VCYT stock opened at $20.23 on Friday. The business has a fifty day moving average of $22.73 and a 200 day moving average of $24.04. Veracyte, Inc. has a 1 year low of $19.52 and a 1 year high of $30.52.

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

Veracyte Company 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.