Veracyte, Inc. $VCYT Shares Bought by EverSource Wealth Advisors LLC

Key Points

• EverSource Wealth Advisors LLC significantly increased its holdings in Veracyte, Inc. by acquiring an additional 15,832 shares, bringing its total ownership to 15,950 shares valued at approximately $473,000.
• Several large investors, including Nuveen LLC and Driehaus Capital Management LLC, also boosted their positions in Veracyte, reflecting a growing institutional interest in the biotechnology company.
• Analyst ratings for Veracyte show mixed opinions, with nine analysts rating it a "buy" and a consensus target price of $40.90, despite ongoing price adjustments by firms like Needham & Company and UBS Group.

EverSource Wealth Advisors LLC lifted its stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 13,416.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,950 shares of the biotechnology company's stock after acquiring an additional 15,832 shares during the quarter. EverSource Wealth Advisors LLC's holdings in Veracyte were worth $473,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of VCYT. Wells Fargo & Company MN increased its position in shares of Veracyte by 28.7% during the fourth quarter. Wells Fargo & Company MN now owns 51,131 shares of the biotechnology company's stock worth $2,025,000 after acquiring an additional 11,387 shares during the period. Cerity Partners LLC grew its stake in shares of Veracyte by 6.4% during the fourth quarter. Cerity Partners LLC now owns 13,486 shares of the biotechnology company's stock worth $524,000 after purchasing an additional 814 shares in the last quarter. Invesco Ltd. grew its stake in shares of Veracyte by 2.2% during the fourth quarter. Invesco Ltd. now owns 329,568 shares of the biotechnology company's stock worth $13,051,000 after purchasing an additional 7,042 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Veracyte during the fourth quarter worth $1,626,000. Finally, Sterling Capital Management LLC grew its stake in shares of Veracyte by 810.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,421 shares of the biotechnology company's stock worth $96,000 after purchasing an additional 2,155 shares in the last quarter.

Veracyte Stock Performance

NASDAQ VCYT traded up $1.57 during trading hours on Friday, hitting $31.00. The company had a trading volume of 1,047,699 shares, compared to its average volume of 2,469,436. Veracyte, Inc. has a 1-year low of $22.61 and a 1-year high of $47.32. The company has a market cap of $2.44 billion, a PE ratio of 93.94 and a beta of 1.97. The business has a 50 day moving average of $26.60 and a 200-day moving average of $29.95.

Analysts Set New Price Targets

VCYT has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Veracyte from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Needham & Company LLC lowered their target price on shares of Veracyte from $51.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. 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. Finally, Morgan Stanley set a $28.00 target price on shares of Veracyte and gave the stock an "underweight" rating in a research note on Friday, August 8th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.90.

About Veracyte

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.