Veracyte, Inc. (NASDAQ:VCYT) Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 134.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 635,110 shares of the biotechnology company's stock after acquiring an additional 363,862 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.82% of Veracyte worth $25,150,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Artisan Partners Limited Partnership grew its position in shares of Veracyte by 31.4% during the 4th quarter. Artisan Partners Limited Partnership now owns 6,599,264 shares of the biotechnology company's stock valued at $261,331,000 after acquiring an additional 1,576,432 shares during the period. Vanguard Group Inc. boosted its position in Veracyte by 6.0% during the fourth quarter. Vanguard Group Inc. now owns 8,211,612 shares of the biotechnology company's stock worth $325,180,000 after purchasing an additional 463,098 shares in the last quarter. Jennison Associates LLC grew its holdings in Veracyte by 116.3% in the fourth quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company's stock valued at $33,017,000 after purchasing an additional 448,251 shares during the period. Loomis Sayles & Co. L P purchased a new stake in shares of Veracyte in the fourth quarter valued at approximately $16,224,000. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Veracyte during the 3rd quarter worth approximately $9,498,000.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VCYT. Stephens reiterated an "overweight" rating and issued a $45.00 target price on shares of Veracyte in a research report on Wednesday, March 26th. UBS Group lifted their price target on Veracyte from $46.00 to $49.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. StockNews.com lowered Veracyte from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. Craig Hallum started coverage on shares of Veracyte in a report on Thursday, March 20th. They set a "buy" rating and a $45.00 target price for the company. Finally, Needham & Company LLC restated a "buy" rating and set a $51.00 price target on shares of Veracyte in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $43.40.

Veracyte Price Performance

VCYT traded down $0.65 during trading hours on Tuesday, reaching $28.88. The company's stock had a trading volume of 1,529,339 shares, compared to its average volume of 849,884. The business's 50-day moving average is $35.32 and its 200-day moving average is $37.53. The stock has a market cap of $2.25 billion, a PE ratio of -192.53 and a beta of 2.03. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $47.32.

Veracyte (NASDAQ:VCYT - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The biotechnology company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.29 by $0.07. The business had revenue of $118.63 million for the quarter, compared to analyst estimates 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 company posted ($0.39) EPS. Analysts expect that Veracyte, Inc. will post 0.68 EPS for the current year.

Veracyte Company Profile

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.