Veracyte, Inc. (NASDAQ:VCYT) Shares Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC increased its position in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 32.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 91,994 shares of the biotechnology company's stock after purchasing an additional 22,565 shares during the period. Exchange Traded Concepts LLC owned 0.12% of Veracyte worth $2,728,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Artisan Partners Limited Partnership lifted its holdings in Veracyte by 31.4% during the 4th quarter. Artisan Partners Limited Partnership now owns 6,599,264 shares of the biotechnology company's stock worth $261,331,000 after buying an additional 1,576,432 shares during the last quarter. Marshall Wace LLP raised its position in shares of Veracyte by 768.9% during the 4th quarter. Marshall Wace LLP now owns 956,577 shares of the biotechnology company's stock valued at $37,880,000 after acquiring an additional 846,487 shares in the last quarter. Driehaus Capital Management LLC lifted its stake in Veracyte by 226.8% during the fourth quarter. Driehaus Capital Management LLC now owns 1,183,766 shares of the biotechnology company's stock worth $46,877,000 after purchasing an additional 821,554 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Veracyte in the fourth quarter worth $20,717,000. Finally, Vanguard Group Inc. increased its stake in Veracyte by 6.0% during the fourth quarter. Vanguard Group Inc. now owns 8,211,612 shares of the biotechnology company's stock valued at $325,180,000 after purchasing an additional 463,098 shares during the last quarter.

Wall Street Analyst Weigh In

VCYT has been the topic of a number of recent research reports. Craig Hallum initiated coverage on shares of Veracyte in a research report on Thursday, March 20th. They issued a "buy" rating and a $45.00 price target on the stock. Wall Street Zen raised shares of Veracyte from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Needham & Company LLC lowered their target price on Veracyte from $51.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Guggenheim dropped their price target on Veracyte from $45.00 to $37.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Finally, Stephens restated an "overweight" rating and set a $45.00 price objective on shares of Veracyte in a research report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Veracyte has an average rating of "Moderate Buy" and a consensus target price of $40.90.

Veracyte Price Performance

Shares of Veracyte stock traded down $0.43 on Friday, hitting $26.39. The company had a trading volume of 486,791 shares, compared to its average volume of 910,293. Veracyte, Inc. has a 52 week low of $19.73 and a 52 week high of $47.32. The company has a market cap of $2.07 billion, a PE ratio of 64.26 and a beta of 2.09. The business has a 50-day simple moving average of $29.09 and a 200-day simple moving average of $35.09.

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.