GW&K Investment Management LLC Buys 44,826 Shares of Veracyte, Inc. (NASDAQ:VCYT)

GW&K Investment Management LLC increased its position in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 3.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,256,893 shares of the biotechnology company's stock after acquiring an additional 44,826 shares during the period. GW&K Investment Management LLC owned about 1.60% of Veracyte worth $37,267,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Synovus Financial Corp raised its stake in shares of Veracyte by 1.2% during the fourth quarter. Synovus Financial Corp now owns 23,132 shares of the biotechnology company's stock valued at $916,000 after acquiring an additional 267 shares during the last quarter. HighTower Advisors LLC raised its stake in Veracyte by 1.9% during the fourth quarter. HighTower Advisors LLC now owns 16,630 shares of the biotechnology company's stock worth $659,000 after buying an additional 305 shares during the last quarter. Xponance Inc. raised its stake in Veracyte by 5.7% during the first quarter. Xponance Inc. now owns 6,860 shares of the biotechnology company's stock worth $203,000 after buying an additional 370 shares during the last quarter. Sherbrooke Park Advisers LLC raised its stake in Veracyte by 7.0% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 9,493 shares of the biotechnology company's stock worth $376,000 after buying an additional 618 shares during the last quarter. Finally, Cerity Partners LLC raised its stake in 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 buying an additional 814 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VCYT. Guggenheim lowered their target price on shares of Veracyte from $45.00 to $37.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Needham & Company LLC decreased their price target 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. Wall Street Zen downgraded shares of Veracyte from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Finally, UBS Group decreased their price target 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $40.90.

Veracyte Stock Up 6.4%

Veracyte stock traded up $1.50 during midday trading on Friday, hitting $25.09. 2,262,649 shares of the stock were exchanged, compared to its average volume of 986,147. Veracyte, Inc. has a 52-week low of $19.73 and a 52-week high of $47.32. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 61.04 and a beta of 2.07. The business's 50-day moving average price is $26.70 and its 200-day moving average price is $32.36.

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.