In Wednesday’s session, Veracyte Inc. (NASDAQ:VCYT) marked $25.05 per share, down from $26.64 in the previous session. While Veracyte Inc. has underperformed by -5.97%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, VCYT fell by -43.83%, with highs and lows ranging from $54.13 to $14.85, whereas the simple moving average fell by -16.14% in the last 200 days.
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On January 07, 2022, Stephens started tracking Veracyte Inc. (NASDAQ: VCYT) recommending Overweight. Raymond James also rated VCYT shares as ‘Outperform’, setting a target price of $45 on the company’s shares in an initiating report dated June 15, 2021. Needham Initiated an Buy rating on February 18, 2021, and assigned a price target of $88. Truist initiated its ‘Buy’ rating for VCYT, as published in its report on January 28, 2021. KeyBanc Capital Markets’s report from November 10, 2020 suggests a price prediction of $48 for VCYT shares, giving the stock a ‘Sector Weight’ rating. Morgan Stanley also rated the stock as ‘Underweight’.
Analysis of Veracyte Inc. (VCYT)
Further, the quarter-over-quarter increase in sales is 84.70%, showing a positive trend in the upcoming months.
Veracyte Inc.’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of -4.50% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 3.60, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and VCYT has an average volume of 1.10M. On a monthly basis, the volatility of the stock is set at 7.23%, whereas on a weekly basis, it is put at 7.53%, with a loss of -4.46% over the past seven days. Furthermore, long-term investors anticipate a median target price of $29.83, showing growth from the present price of $25.05, which can serve as yet another indication of whether VCYT is worth investing in or should be passed over.
How Do You Analyze Veracyte Inc. Shares?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.90%. This can enable you to see the extent to which executives own the company’s stock.
Are institutional investors increasing their holdings in VCYT shares?
The recent increase in stakes in VCYT appears to be a result of several institutional investors and hedge funds increasing their positions. ARK Investment Management LLC’s position in VCYT has increased by 1.14% in the first quarter. The company now owns 8,856,245 shares of the stock, with a value of $176.24 million, following the purchase of 100,221 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in VCYT during the first quarter, upping its stake by 0.30%. During the last quarter, the company dropped down 19,727 additional shares for a total stake of worth $129.29 million, bringing number of shares owned by the company to 6,496,825.
During the first quarter, BlackRock Fund Advisors subtracted a -81,329 position in VCYT. Wellington Management Co. LLP sold an additional -0.17 million shares in the last quarter, decreasing its holdings by -3.27%, now holding 4.91 million shares worth $97.77 million. At the end of the first quarter, Artisan Partners LP decreased its VCYT holdings by -9.08% and now holds 4.51 million VCYT shares valued at $89.68 million with the lessened -0.45 million shares during the period.
