Veracyte (NASDAQ:VCYT) Lowered to “Strong Sell” at ValuEngine

ValuEngine cut shares of Veracyte (NASDAQ:VCYT) from a sell rating to a strong sell rating in a report published on Friday, February 2nd.

Several other research firms have also commented on VCYT. Zacks Investment Research upgraded Veracyte from a sell rating to a hold rating in a research note on Friday, November 10th. Janney Montgomery Scott lowered Veracyte from a buy rating to a neutral rating in a research note on Tuesday, November 7th. Piper Jaffray Companies lowered Veracyte from an overweight rating to a neutral rating in a research report on Tuesday, November 7th. Leerink Swann dropped their price target on Veracyte from $12.00 to $9.00 and set an outperform rating for the company in a research report on Tuesday, November 7th. Finally, BTIG Research set a $13.00 price target on Veracyte and gave the company a buy rating in a research report on Monday, November 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $11.85.

Shares of Veracyte (VCYT) opened at $5.70 on Friday. Veracyte has a 52 week low of $5.23 and a 52 week high of $9.80. The company has a current ratio of 5.19, a quick ratio of 4.86 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $185.18, a P/E ratio of -7.04 and a beta of 1.63.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its holdings in Veracyte by 3.0% in the fourth quarter. Millennium Management LLC now owns 780,770 shares of the biotechnology company’s stock valued at $5,098,000 after acquiring an additional 23,089 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Veracyte by 72.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 50,172 shares of the biotechnology company’s stock valued at $328,000 after acquiring an additional 21,088 shares during the last quarter. Stonepine Capital Management LLC lifted its holdings in Veracyte by 274.3% in the fourth quarter. Stonepine Capital Management LLC now owns 1,235,147 shares of the biotechnology company’s stock valued at $8,066,000 after acquiring an additional 905,147 shares during the last quarter. ARK Investment Management LLC lifted its holdings in Veracyte by 187.2% in the fourth quarter. ARK Investment Management LLC now owns 1,402,264 shares of the biotechnology company’s stock valued at $9,157,000 after acquiring an additional 913,926 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Veracyte by 46.3% in the fourth quarter. BlackRock Inc. now owns 1,842,981 shares of the biotechnology company’s stock valued at $12,034,000 after acquiring an additional 583,582 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

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About Veracyte

Veracyte, Inc is a genomic diagnostics company. The Company uses genomic technology to resolve diagnostic ambiguity. It targets diseases in which patients undergo invasive diagnostic procedures. Its products combine genomic technology, clinical science and machine learning. The Company commercializes over three genomic tests, which are transforming the diagnosis of thyroid cancer, lung cancer and idiopathic pulmonary fibrosis.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Veracyte (NASDAQ:VCYT)

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