Nuveen Asset Management LLC Grows Position in Veracyte, Inc. (NASDAQ:VCYT)

Nuveen Asset Management LLC lifted its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,194,392 shares of the biotechnology company's stock after buying an additional 8,797 shares during the quarter. Nuveen Asset Management LLC owned about 1.54% of Veracyte worth $47,298,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Jones Financial Companies Lllp raised its holdings in Veracyte by 49.7% in the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock valued at $28,000 after buying an additional 237 shares during the last quarter. Arizona State Retirement System increased its position in Veracyte by 1.2% during the 4th quarter. Arizona State Retirement System now owns 22,276 shares of the biotechnology company's stock valued at $882,000 after purchasing an additional 264 shares during the period. Synovus Financial Corp increased its position in Veracyte by 1.2% during the 4th quarter. Synovus Financial Corp now owns 23,132 shares of the biotechnology company's stock valued at $916,000 after purchasing an additional 267 shares during the period. HighTower Advisors LLC increased its position in Veracyte by 1.9% during the 4th quarter. HighTower Advisors LLC now owns 16,630 shares of the biotechnology company's stock valued at $659,000 after purchasing an additional 305 shares during the period. Finally, Principal Securities Inc. increased its position in Veracyte by 34.1% during the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company's stock valued at $76,000 after purchasing an additional 485 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on VCYT. Stephens reaffirmed an "overweight" rating and set a $45.00 price objective on shares of Veracyte in a research report on Wednesday, March 26th. UBS Group cut their target price on Veracyte from $49.00 to $42.00 and set a "buy" rating on the stock in a report 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 on the stock. Wall Street Zen lowered Veracyte from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. Finally, Guggenheim cut their target price on Veracyte from $45.00 to $37.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Veracyte currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.90.

Veracyte Price Performance

VCYT stock traded down $0.24 during midday trading on Friday, hitting $27.16. The stock had a trading volume of 612,390 shares, compared to its average volume of 894,629. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -181.07 and a beta of 2.14. The business has a 50-day moving average of $30.49 and a two-hundred day moving average of $36.71. Veracyte, Inc. has a 52-week low of $19.73 and a 52-week high of $47.32.

Veracyte (NASDAQ:VCYT - Get Free Report) last released its earnings results on Monday, February 24th. The biotechnology company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.07. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The firm had revenue of $118.63 million for the quarter, compared to analysts' expectations of $110.73 million. During the same period in the prior year, the firm posted ($0.39) earnings per share. Research analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current year.

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.