Rice Hall James & Associates LLC Increases Stake in Veracyte, Inc. (NASDAQ:VCYT)

Rice Hall James & Associates LLC raised its position in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 20.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,458 shares of the biotechnology company's stock after purchasing an additional 19,843 shares during the period. Rice Hall James & Associates LLC owned 0.15% of Veracyte worth $3,423,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of VCYT. US Bancorp DE grew its stake in Veracyte by 57.4% in the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company's stock worth $70,000 after buying an additional 647 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Veracyte by 49.7% in the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock worth $28,000 after buying an additional 237 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Veracyte in the 4th quarter worth approximately $1,179,000. Raymond James Financial Inc. purchased a new position in Veracyte in the 4th quarter worth approximately $1,626,000. Finally, PNC Financial Services Group Inc. grew its stake in Veracyte by 9.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 25,439 shares of the biotechnology company's stock worth $1,007,000 after buying an additional 2,115 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have commented on VCYT. Wall Street Zen cut shares of Veracyte from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Stephens reissued an "overweight" rating and issued a $45.00 price target on shares of Veracyte in a research note on Wednesday, March 26th. 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 note on Thursday, May 8th. 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 objective for the company. Finally, Guggenheim lowered their price target on shares of Veracyte from $45.00 to $37.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $40.90.

Veracyte Stock Performance

Shares of VCYT traded down $0.97 during mid-day trading on Friday, hitting $23.25. 603,786 shares of the company traded hands, compared to its average volume of 972,361. The stock has a 50-day moving average price of $27.27 and a two-hundred day moving average price of $32.96. Veracyte, Inc. has a 1 year low of $19.73 and a 1 year high of $47.32. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 56.73 and a beta of 2.07.

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.