Veracyte, Inc. (NASDAQ:VCYT) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 4,351.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,273 shares of the biotechnology company's stock after purchasing an additional 18,840 shares during the period. GAMMA Investing LLC's holdings in Veracyte were worth $571,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VCYT. Jones Financial Companies Lllp lifted its holdings in Veracyte by 49.7% during the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock valued at $28,000 after purchasing an additional 237 shares in the last quarter. Versant Capital Management Inc lifted its holdings in 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 purchasing an additional 862 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Veracyte during the fourth quarter valued at $64,000. US Bancorp DE lifted its holdings in Veracyte by 57.4% during the fourth quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company's stock valued at $70,000 after purchasing an additional 647 shares in the last quarter. Finally, Principal Securities Inc. lifted its holdings in Veracyte by 34.1% during the fourth quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company's stock valued at $76,000 after purchasing an additional 485 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on VCYT shares. Craig Hallum started coverage on shares of Veracyte in a research note on Thursday, March 20th. They issued a "buy" rating and a $45.00 price target on the stock. Needham & Company LLC decreased their price target on shares of Veracyte from $51.00 to $41.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. UBS Group decreased their price target on shares of 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 raised shares of Veracyte from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Finally, Guggenheim reduced their target price on shares of Veracyte from $45.00 to $37.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, Veracyte has an average rating of "Moderate Buy" and a consensus target price of $40.90.

Veracyte Stock Down 1.6%

Shares of VCYT traded down $0.43 during trading on Friday, reaching $26.39. 1,682,385 shares of the company traded hands, compared to its average volume of 906,398. Veracyte, Inc. has a twelve month low of $19.73 and a twelve month high of $47.32. The stock has a market cap of $2.07 billion, a PE ratio of 64.37 and a beta of 2.09. The stock has a 50-day simple moving average of $28.98 and a 200-day simple moving average of $34.90.

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.