Exchange Traded Concepts LLC Increases Holdings in Veracyte, Inc. (NASDAQ:VCYT)

Exchange Traded Concepts LLC increased its holdings in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 32.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 91,994 shares of the biotechnology company's stock after buying an additional 22,565 shares during the period. Exchange Traded Concepts LLC owned 0.12% of Veracyte worth $2,728,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Artisan Partners Limited Partnership increased its holdings in shares of Veracyte by 31.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 6,599,264 shares of the biotechnology company's stock worth $261,331,000 after purchasing an additional 1,576,432 shares during the period. Marshall Wace LLP increased its stake in Veracyte by 768.9% in the 4th quarter. Marshall Wace LLP now owns 956,577 shares of the biotechnology company's stock worth $37,880,000 after purchasing an additional 846,487 shares during the period. Driehaus Capital Management LLC boosted its stake in shares of Veracyte by 226.8% during the fourth quarter. Driehaus Capital Management LLC now owns 1,183,766 shares of the biotechnology company's stock valued at $46,877,000 after purchasing an additional 821,554 shares during the period. Point72 Asset Management L.P. bought a new stake in Veracyte during the 4th quarter valued at $20,717,000. Finally, Vanguard Group Inc. grew its holdings in Veracyte by 6.0% in the 4th quarter. Vanguard Group Inc. now owns 8,211,612 shares of the biotechnology company's stock worth $325,180,000 after acquiring an additional 463,098 shares during the last quarter.

Veracyte Stock Performance

Shares of NASDAQ:VCYT traded up $0.12 during trading on Tuesday, reaching $26.76. 745,858 shares of the stock traded hands, compared to its average volume of 910,900. The stock has a market cap of $2.10 billion, a P/E ratio of -178.40 and a beta of 2.10. The stock has a 50-day moving average of $29.39 and a two-hundred day moving average of $35.32. Veracyte, Inc. has a 52-week low of $19.73 and a 52-week high of $47.32.

Analysts Set New Price Targets

Several research firms recently weighed in on VCYT. Guggenheim cut their price target on shares of Veracyte from $45.00 to $37.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. UBS Group reduced their price target on Veracyte from $49.00 to $42.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen upgraded shares of Veracyte from a "hold" rating to a "buy" rating in a report on Saturday. Craig Hallum began coverage on shares of Veracyte in a research note on Thursday, March 20th. They issued a "buy" rating and a $45.00 price target for the company. Finally, Needham & Company LLC lowered their price target on shares of Veracyte from $51.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.