Assenagon Asset Management S.A. Has $14.47 Million Position in Veracyte, Inc. (NASDAQ:VCYT)

Assenagon Asset Management S.A. lifted its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 1,705.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 488,061 shares of the biotechnology company's stock after purchasing an additional 461,023 shares during the period. Assenagon Asset Management S.A. owned 0.63% of Veracyte worth $14,471,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Veracyte by 6.0% in the fourth quarter. Vanguard Group Inc. now owns 8,211,612 shares of the biotechnology company's stock valued at $325,180,000 after acquiring an additional 463,098 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in Veracyte by 31.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 6,599,264 shares of the biotechnology company's stock valued at $261,331,000 after acquiring an additional 1,576,432 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its holdings in Veracyte by 3.3% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 3,080,027 shares of the biotechnology company's stock valued at $121,969,000 after acquiring an additional 97,824 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in Veracyte by 0.7% in the fourth quarter. Nuveen Asset Management LLC now owns 1,194,392 shares of the biotechnology company's stock valued at $47,298,000 after acquiring an additional 8,797 shares during the last quarter. Finally, Driehaus Capital Management LLC boosted its holdings in Veracyte by 226.8% in the fourth quarter. Driehaus Capital Management LLC now owns 1,183,766 shares of the biotechnology company's stock valued at $46,877,000 after acquiring an additional 821,554 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Needham & Company LLC decreased their price target on Veracyte from $51.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Stephens reiterated an "overweight" rating and issued a $45.00 price target on shares of Veracyte in a report on Wednesday, March 26th. UBS Group decreased their price target on Veracyte from $49.00 to $42.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Guggenheim decreased their price target on Veracyte from $45.00 to $37.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Craig Hallum assumed coverage on Veracyte in a report on Thursday, March 20th. They issued a "buy" rating and a $45.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $40.90.

Veracyte Stock Performance

NASDAQ:VCYT traded down $0.25 during mid-day trading on Friday, hitting $26.44. The company had a trading volume of 953,596 shares, compared to its average volume of 912,674. Veracyte, Inc. has a fifty-two week low of $19.73 and a fifty-two week high of $47.32. The business's fifty day moving average is $29.44 and its two-hundred day moving average is $35.44. The firm has a market cap of $2.07 billion, a P/E ratio of -176.27 and a beta of 2.09.

Veracyte 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.