IQ EQ FUND MANAGEMENT IRELAND Ltd Purchases 12,448 Shares of 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 increased its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 68.6% during the first quarter, according to its most recent disclosure 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 quarter. 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 have also recently bought and sold shares of the company. ArrowMark Colorado Holdings LLC raised its stake in Veracyte by 3.3% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 3,080,027 shares of the biotechnology company's stock worth $121,969,000 after purchasing an additional 97,824 shares during the period. GW&K Investment Management LLC grew its holdings in Veracyte by 3.7% during the 1st quarter. GW&K Investment Management LLC now owns 1,256,893 shares of the biotechnology company's stock worth $37,267,000 after acquiring an additional 44,826 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in Veracyte by 0.7% during the 4th quarter. Nuveen Asset Management LLC now owns 1,194,392 shares of the biotechnology company's stock worth $47,298,000 after acquiring an additional 8,797 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings in shares of Veracyte by 226.8% in the 4th quarter. Driehaus Capital Management LLC now owns 1,183,766 shares of the biotechnology company's stock valued at $46,877,000 after buying an additional 821,554 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Veracyte by 12.7% during the 4th quarter. Northern Trust Corp now owns 1,069,187 shares of the biotechnology company's stock worth $42,340,000 after purchasing an additional 120,752 shares during the period.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of Veracyte from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. UBS Group reduced their price target on shares of Veracyte from $49.00 to $42.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Needham & Company LLC dropped their price objective 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. Finally, Morgan Stanley set a $28.00 price target on shares of Veracyte and gave the stock an "underweight" rating in a research note on Friday. 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 data from MarketBeat.com, Veracyte presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.90.

Veracyte Trading Down 1.1%

Shares of NASDAQ:VCYT traded down $0.31 during trading on Friday, hitting $27.37. 1,544,893 shares of the company's stock traded hands, compared to its average volume of 2,230,251. The company has a 50-day moving average price of $26.09 and a 200-day moving average price of $31.06. Veracyte, Inc. has a 52 week low of $22.61 and a 52 week high of $47.32. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 82.94 and a beta of 1.97.

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.