Federated Hermes Inc. Sells 27,590 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Federated Hermes Inc. decreased its stake in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 22.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,423 shares of the biotechnology company's stock after selling 27,590 shares during the period. Federated Hermes Inc. owned about 0.12% of Veracyte worth $2,800,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in shares of Veracyte by 1,267.6% during the first quarter. Versant Capital Management Inc now owns 930 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 862 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Veracyte during the fourth quarter worth $64,000. Sterling Capital Management LLC lifted its holdings 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 during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Veracyte during the fourth quarter worth $152,000. Finally, Neuberger Berman Group LLC acquired a new position in shares of Veracyte during the fourth quarter worth $201,000.

Veracyte Stock Up 0.4%

VCYT traded up $0.12 during midday trading on Friday, hitting $27.80. The company had a trading volume of 680,636 shares, compared to its average volume of 1,145,660. Veracyte, Inc. has a 52 week low of $22.61 and a 52 week high of $47.32. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 84.11 and a beta of 1.97. The stock's 50 day moving average price is $26.08 and its 200 day moving average price is $31.17.

Analysts Set New Price Targets

VCYT has been the topic of a number of recent research reports. 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. 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. Finally, Wall Street Zen upgraded shares of Veracyte from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. One equities 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's stock. According to MarketBeat.com, Veracyte has a consensus rating of "Moderate Buy" and a consensus target price of $40.90.

Veracyte 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.