Driehaus Capital Management LLC lifted its stake in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,351,370 shares of the biotechnology company's stock after purchasing an additional 167,604 shares during the quarter. Driehaus Capital Management LLC owned 1.73% of Veracyte worth $40,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also bought and sold shares of VCYT. Versant Capital Management Inc lifted its stake in shares of Veracyte by 1,267.6% in the first quarter. Versant Capital Management Inc now owns 930 shares of the biotechnology company's stock worth $28,000 after buying an additional 862 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Veracyte during the 1st quarter valued at $48,000. GF Fund Management CO. LTD. bought a new stake in shares of Veracyte in the 4th quarter worth $64,000. Covestor Ltd raised its stake in shares of Veracyte by 23,936.4% in the first quarter. Covestor Ltd now owns 2,644 shares of the biotechnology company's stock worth $78,000 after purchasing an additional 2,633 shares during the last quarter. Finally, Captrust Financial Advisors bought a new position in shares of Veracyte during the fourth quarter valued at $206,000.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on VCYT shares. UBS Group dropped 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. Wall Street Zen raised shares of Veracyte from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Needham & Company LLC lowered their price target on Veracyte from $51.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, Morgan Stanley set a $28.00 price objective on Veracyte and gave the stock an "underweight" rating in a report on Friday, August 8th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.90.
Check Out Our Latest Analysis on VCYT
Veracyte Stock Performance
Shares of Veracyte stock traded down $0.23 during trading hours on Tuesday, hitting $30.11. The company's stock had a trading volume of 829,086 shares, compared to its average volume of 1,153,660. The company has a market cap of $2.37 billion, a PE ratio of 91.25 and a beta of 2.07. The business has a 50 day moving average price of $26.95 and a two-hundred day moving average price of $29.39. Veracyte, Inc. has a 12-month low of $22.61 and a 12-month high of $47.32.
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.
Read More

Before you consider Veracyte, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Veracyte wasn't on the list.
While Veracyte currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.