Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 16.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 234,196 shares of the biotechnology company's stock after selling 45,135 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.30% of Veracyte worth $6,944,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of VCYT. Alliancebernstein L.P. raised its stake in Veracyte by 2.1% during the fourth quarter. Alliancebernstein L.P. now owns 98,420 shares of the biotechnology company's stock valued at $3,897,000 after purchasing an additional 2,000 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Veracyte by 28.7% in the fourth quarter. Wells Fargo & Company MN now owns 51,131 shares of the biotechnology company's stock valued at $2,025,000 after acquiring an additional 11,387 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Veracyte by 233.3% in the fourth quarter. Russell Investments Group Ltd. now owns 65,541 shares of the biotechnology company's stock valued at $2,595,000 after acquiring an additional 45,876 shares during the period. Cerity Partners LLC raised its stake in shares of Veracyte by 6.4% in the fourth quarter. Cerity Partners LLC now owns 13,486 shares of the biotechnology company's stock valued at $524,000 after acquiring an additional 814 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Veracyte by 2.2% in the fourth quarter. Invesco Ltd. now owns 329,568 shares of the biotechnology company's stock valued at $13,051,000 after acquiring an additional 7,042 shares during the period.
Veracyte Stock Down 2.1%
Shares of Veracyte stock traded down $0.64 during trading hours on Thursday, reaching $30.04. 1,391,593 shares of the company's stock were exchanged, compared to its average volume of 1,170,979. The company has a market capitalization of $2.36 billion, a P/E ratio of 91.03 and a beta of 1.97. The business has a fifty day moving average of $26.22 and a two-hundred day moving average of $30.76. Veracyte, Inc. has a 1 year low of $22.61 and a 1 year high of $47.32.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of Veracyte from $49.00 to $42.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Needham & Company LLC reduced their price objective on Veracyte from $51.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Wall Street Zen upgraded Veracyte from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Morgan Stanley set a $28.00 price target on shares of Veracyte and gave the company an "underweight" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $40.90.
View Our Latest Analysis on VCYT
Veracyte Company Profile
(
Free Report)
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.
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