Hsbc Holdings PLC Buys 10,618 Shares of Veracyte, Inc. $VCYT

Key Points

• Hsbc Holdings PLC increased its ownership in Veracyte, Inc. by 95.8%, acquiring an additional 10,618 shares, bringing its total to 21,702 shares valued at $635,000.
• Several institutional investors have significantly increased their stakes in Veracyte, with Covestor Ltd boosting its holdings by 23,936.4% during the first quarter.
• Analyst ratings for Veracyte show a consensus of "Moderate Buy," with an average target price of $40.90 despite varying target price estimates from different firms.

Hsbc Holdings PLC boosted its stake in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 95.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,702 shares of the biotechnology company's stock after purchasing an additional 10,618 shares during the quarter. Hsbc Holdings PLC's holdings in Veracyte were worth $635,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc boosted its position in shares of Veracyte by 1,267.6% during the 1st quarter. Versant Capital Management Inc now owns 930 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 862 shares in the last quarter. Headlands Technologies LLC acquired a new position in Veracyte during the 1st quarter worth approximately $48,000. GF Fund Management CO. LTD. bought a new position in Veracyte in the fourth quarter worth approximately $64,000. Covestor Ltd boosted its holdings in Veracyte by 23,936.4% in the first quarter. Covestor Ltd now owns 2,644 shares of the biotechnology company's stock worth $78,000 after acquiring an additional 2,633 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new stake in Veracyte in the fourth quarter valued at approximately $206,000.

Veracyte Trading Up 1.3%

NASDAQ VCYT opened at $30.34 on Monday. The business has a fifty day simple moving average of $26.88 and a 200 day simple moving average of $29.46. Veracyte, Inc. has a 12 month low of $22.61 and a 12 month high of $47.32. The firm has a market capitalization of $2.39 billion, a P/E ratio of 91.94 and a beta of 2.07.

Analyst Ratings Changes

VCYT has been the topic of a number of research reports. Morgan Stanley set a $28.00 target price on Veracyte and gave the stock an "underweight" rating in a research report on Friday, August 8th. Needham & Company LLC lowered their price objective 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. Wall Street Zen raised shares of Veracyte from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, UBS Group decreased their target price on shares of Veracyte from $49.00 to $42.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $40.90.

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.

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