Veracyte, Inc. (NASDAQ:VCYT) Shares Acquired by Nuveen Asset Management LLC

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

Other large investors have also made changes to their positions in the company. Ieq Capital LLC purchased a new position in shares of Veracyte in the 4th quarter worth $580,000. Barclays PLC raised its position in shares of Veracyte by 138.6% in the 3rd quarter. Barclays PLC now owns 146,402 shares of the biotechnology company's stock worth $4,983,000 after buying an additional 85,033 shares during the period. Jennison Associates LLC raised its position in shares of Veracyte by 116.3% in the 4th quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company's stock worth $33,017,000 after buying an additional 448,251 shares during the period. Bayesian Capital Management LP purchased a new position in shares of Veracyte in the 4th quarter worth $693,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Veracyte by 3.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 48,414 shares of the biotechnology company's stock worth $1,918,000 after buying an additional 1,816 shares during the period.

Wall Street Analyst Weigh In

VCYT has been the topic of several research reports. Guggenheim cut their target price on Veracyte from $45.00 to $37.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Needham & Company LLC cut their price objective on Veracyte from $51.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Craig Hallum began coverage on Veracyte in a research report on Thursday, March 20th. They issued a "buy" rating and a $45.00 price objective on the stock. Stephens reissued an "overweight" rating and issued a $45.00 price objective on shares of Veracyte in a research report on Wednesday, March 26th. Finally, UBS Group cut their price objective on Veracyte from $49.00 to $42.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $40.90.

Veracyte Price Performance

Shares of Veracyte stock opened at $29.00 on Tuesday. The business has a 50-day moving average of $30.75 and a 200-day moving average of $36.95. The company has a market capitalization of $2.27 billion, a PE ratio of -193.33 and a beta of 2.14. Veracyte, Inc. has a 1-year low of $19.73 and a 1-year high of $47.32.

Veracyte (NASDAQ:VCYT - Get Free Report) last announced its earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. The company had revenue of $118.63 million during the quarter, compared to the consensus estimate of $110.73 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. During the same period last year, the firm earned ($0.39) earnings per share. On average, equities analysts expect that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

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.

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