Rice Hall James & Associates LLC increased its holdings in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 20.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,458 shares of the biotechnology company's stock after purchasing an additional 19,843 shares during the quarter. Rice Hall James & Associates LLC owned 0.15% of Veracyte worth $3,423,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. US Bancorp DE boosted its position in shares of Veracyte by 57.4% in the fourth quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company's stock worth $70,000 after buying an additional 647 shares during the period. Jones Financial Companies Lllp lifted 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 acquiring an additional 237 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Veracyte during the 4th quarter worth about $1,179,000. Raymond James Financial Inc. purchased a new position in Veracyte during the 4th quarter valued at about $1,626,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Veracyte by 9.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 25,439 shares of the biotechnology company's stock valued at $1,007,000 after purchasing an additional 2,115 shares during the period.
Veracyte Stock Performance
NASDAQ:VCYT traded down $0.07 during trading hours on Wednesday, hitting $25.17. The stock had a trading volume of 833,545 shares, compared to its average volume of 917,695. The business's 50 day moving average is $27.41 and its 200-day moving average is $33.07. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 61.39 and a beta of 2.07. Veracyte, Inc. has a one year low of $19.73 and a one year high of $47.32.
Analyst Ratings Changes
A number of brokerages have commented on VCYT. Wall Street Zen downgraded Veracyte from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Stephens reiterated an "overweight" rating and set a $45.00 price target on shares of Veracyte in a report on Wednesday, March 26th. Guggenheim dropped their price objective on Veracyte from $45.00 to $37.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. UBS Group cut their price objective 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. Finally, Needham & Company LLC decreased their target price 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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $40.90.
View Our Latest Analysis on Veracyte
About Veracyte
(
Free Report)
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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