Universal Beteiligungs und Servicegesellschaft mbH Purchases New Position in Veracyte, Inc. (NASDAQ:VCYT)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Veracyte, Inc. (NASDAQ:VCYT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 176,518 shares of the biotechnology company's stock, valued at approximately $6,990,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.23% of Veracyte at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of VCYT. Barclays PLC boosted its position in Veracyte by 138.6% in the third quarter. Barclays PLC now owns 146,402 shares of the biotechnology company's stock worth $4,983,000 after purchasing an additional 85,033 shares during the last quarter. KBC Group NV boosted its holdings in shares of Veracyte by 44.6% in the fourth quarter. KBC Group NV now owns 3,872 shares of the biotechnology company's stock worth $153,000 after buying an additional 1,195 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in Veracyte by 11.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 16,433 shares of the biotechnology company's stock valued at $651,000 after buying an additional 1,660 shares during the period. Jennison Associates LLC increased its holdings in Veracyte by 116.3% during the fourth quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company's stock valued at $33,017,000 after buying an additional 448,251 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Veracyte by 0.6% in the fourth quarter. Rhumbline Advisers now owns 123,324 shares of the biotechnology company's stock worth $4,884,000 after acquiring an additional 675 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VCYT. UBS Group cut their price objective 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. Wall Street Zen lowered Veracyte from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Needham & Company LLC decreased their price objective on Veracyte from $51.00 to $41.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Craig Hallum assumed coverage on Veracyte in a research note on Thursday, March 20th. They set a "buy" rating and a $45.00 price objective for the company. Finally, Stephens reissued an "overweight" rating and issued a $45.00 target price on shares of Veracyte in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $40.90.

Veracyte Stock Performance

Shares of Veracyte stock traded up $0.79 on Wednesday, hitting $27.29. 875,700 shares of the company traded hands, compared to its average volume of 903,092. The stock has a market capitalization of $2.14 billion, a P/E ratio of -181.93 and a beta of 2.14. The business has a 50-day simple moving average of $29.78 and a 200 day simple moving average of $36.20. Veracyte, Inc. has a 52 week low of $19.73 and a 52 week high of $47.32.

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.