Deutsche Bank AG Lowers Stake in Veracyte, Inc. $VCYT

Key Points

• Deutsche Bank AG sold 9,272 shares of Veracyte, Inc., decreasing its stake by 11.4% and owning approximately 0.09% of the company, worth about $2.14 million.
• Analysts have mixed ratings on Veracyte, with eight providing a Buy rating, one Hold, and one Sell, while the consensus price target stands at $40.90.
• Veracyte's stock price opened at $29.49 and has a market capitalization of $2.32 billion, with a 52-week range of $22.61 to $47.32.

Deutsche Bank AG lowered its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 11.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 71,994 shares of the biotechnology company's stock after selling 9,272 shares during the period. Deutsche Bank AG owned about 0.09% of Veracyte worth $2,135,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc grew its holdings in shares of Veracyte by 1,267.6% during the 1st quarter. Versant Capital Management Inc now owns 930 shares of the biotechnology company's stock valued at $28,000 after purchasing an additional 862 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Veracyte during the 4th quarter valued at $64,000. Sterling Capital Management LLC grew its holdings in shares of Veracyte by 810.2% during the 4th quarter. Sterling Capital Management LLC now owns 2,421 shares of the biotechnology company's stock valued at $96,000 after purchasing an additional 2,155 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Veracyte during the 4th quarter valued at $152,000. Finally, Captrust Financial Advisors bought a new position in shares of Veracyte during the 4th quarter valued at $206,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on VCYT shares. Morgan Stanley set a $28.00 price target on shares of Veracyte and gave the stock an "underweight" rating in a report on Friday, August 8th. Wall Street Zen raised shares of Veracyte from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Needham & Company LLC cut their price target on shares of Veracyte from $51.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, UBS Group cut their price target on shares of Veracyte from $49.00 to $42.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $40.90.

Veracyte Stock Down 1.6%

Shares of NASDAQ:VCYT traded down $0.48 on Tuesday, hitting $29.07. The company had a trading volume of 757,322 shares, compared to its average volume of 1,509,336. The firm's 50-day simple moving average is $26.70 and its two-hundred day simple moving average is $29.77. Veracyte, Inc. has a 1 year low of $22.61 and a 1 year high of $47.32. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 88.09 and a beta of 1.97.

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.