Veracyte Inc. (NASDAQ:VCYT) marked $27.04 per share on Tuesday, down from a previous closing price of $27.45. While Veracyte Inc. has underperformed by -1.49%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, VCYT rose by 2.66%, with highs and lows ranging from $32.40 to $14.92, whereas the simple moving average jumped by 10.58% in the last 200 days.
On January 18, 2023, Raymond James Downgraded Veracyte Inc. (NASDAQ: VCYT) to Mkt Perform.
Analysis of Veracyte Inc. (VCYT)
Further, the quarter-over-quarter increase in sales is 21.50%, showing a positive trend in the upcoming months.
In order to gain a clear picture of Veracyte Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -2.80% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 4.30, 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.
An average volume of 660.79K can be a very valuable indicator of volatility for VCYT stock. On a monthly basis, the volatility of the stock is set at 4.14%, whereas on a weekly basis, it is put at 4.07%, with a loss of -5.22% over the past seven days. Furthermore, long-term investors anticipate a median target price of $32.83, showing growth from the present price of $27.04, 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 the fundamentals, you should also consider how many employees own shares in the company. 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 0.70%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 106.32% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
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 decreased by -6.91% in the first quarter. The company now owns 7,828,292 shares of the stock, with a value of $199.39 million, following the sale of -580,814 additional shares during the last quarter. Wellington Management Co. LLP made another increased to its shares in VCYT during the first quarter, upping its stake by 1.40%. During the last quarter, the company picked up 99,811 additional shares for a total stake of worth $184.63 million, bringing number of shares owned by the company to 7,248,889.
During the first quarter, The Vanguard Group, Inc. added a 150,122 position in VCYT. BlackRock Fund Advisors sold an additional 55341.0 shares in the last quarter, decreasing its holdings by -1.03%, now holding 5.3 million shares worth $135.12 million. At the end of the first quarter, SSgA Funds Management, Inc. increased its VCYT holdings by 0.30% and now holds 4.17 million VCYT shares valued at $106.26 million with the added 12588.0 shares during the period. VCYT shares are owned by institutional investors to the tune of 106.32% at present.