IQ EQ FUND MANAGEMENT IRELAND Ltd Boosts Stake in Veracyte, Inc. (NASDAQ:VCYT)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Veracyte, Inc. by 68.6%, owning 30,604 shares worth approximately $907,000 as of the latest SEC filing.
• Other investors also expanded their positions in Veracyte, with Versant Capital Management increasing its stake by 1,267.6% in the first quarter.
• Analyst ratings for Veracyte reflect a consensus rating of "Moderate Buy", with several firms reducing their price targets while maintaining buy ratings.

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 68.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,604 shares of the biotechnology company's stock after acquiring an additional 12,448 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Veracyte were worth $907,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Versant Capital Management Inc increased its stake 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. GF Fund Management CO. LTD. purchased a new position in Veracyte during the fourth quarter worth $64,000. Sterling Capital Management LLC raised its holdings in shares of Veracyte by 810.2% in the fourth quarter. Sterling Capital Management LLC now owns 2,421 shares of the biotechnology company's stock worth $96,000 after acquiring an additional 2,155 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Veracyte in the fourth quarter worth $152,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Veracyte in the first quarter valued at $173,000.

Veracyte Stock Down 1.1%

Shares of VCYT traded down $0.31 during mid-day trading on Friday, hitting $27.37. The company had a trading volume of 1,544,849 shares, compared to its average volume of 1,151,748. Veracyte, Inc. has a 1-year low of $22.61 and a 1-year high of $47.32. The business's 50-day simple moving average is $26.08 and its 200-day simple moving average is $31.17. The stock has a market cap of $2.14 billion, a PE ratio of 82.94 and a beta of 1.97.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wall Street Zen upgraded Veracyte from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. 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. Finally, Needham & Company LLC cut their price objective 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 research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.