Teacher Retirement System of Texas Buys 51,362 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Teacher Retirement System of Texas lifted its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 329.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,974 shares of the biotechnology company’s stock after buying an additional 51,362 shares during the quarter. Teacher Retirement System of Texas owned about 0.09% of Veracyte worth $2,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of VCYT. Harvest Fund Management Co. Ltd purchased a new position in shares of Veracyte during the 4th quarter worth approximately $468,000. Xponance Inc. purchased a new position in shares of Veracyte in the 4th quarter worth about $257,000. Parallel Advisors LLC grew its position in Veracyte by 6,108.0% during the 4th quarter. Parallel Advisors LLC now owns 8,567 shares of the biotechnology company’s stock valued at $339,000 after purchasing an additional 8,429 shares during the last quarter. Cibc World Markets Corp bought a new stake in Veracyte during the 4th quarter valued at about $285,000. Finally, Picton Mahoney Asset Management raised its holdings in Veracyte by 17,837.8% in the fourth quarter. Picton Mahoney Asset Management now owns 6,637 shares of the biotechnology company’s stock worth $263,000 after buying an additional 6,600 shares during the last quarter.

Veracyte Price Performance

NASDAQ:VCYT opened at $33.69 on Wednesday. Veracyte, Inc. has a one year low of $18.61 and a one year high of $47.32. The business has a fifty day moving average price of $38.19 and a 200-day moving average price of $37.78. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of -224.60 and a beta of 1.80.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Monday, February 24th. The biotechnology company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $118.63 million during the quarter, compared to analysts’ expectations of $110.73 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. During the same quarter in the prior year, the business posted ($0.39) earnings per share. On average, equities research analysts expect that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VCYT. Guggenheim reaffirmed a “buy” rating and set a $45.00 price target on shares of Veracyte in a report on Tuesday, February 25th. UBS Group lifted their price target on shares of Veracyte from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Craig Hallum assumed coverage on shares of Veracyte in a report on Thursday, March 20th. They issued a “buy” rating and a $45.00 target price on the stock. The Goldman Sachs Group reiterated a “neutral” rating and set a $37.00 target price (down from $38.00) on shares of Veracyte in a research note on Thursday, December 5th. Finally, StockNews.com downgraded Veracyte from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.22.

Insiders Place Their Bets

In other news, Director Karin Eastham sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total transaction of $403,000.00. Following the sale, the director now directly owns 18,497 shares in the company, valued at $745,429.10. This trade represents a 35.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

About Veracyte

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.