Veracyte, Inc. $VCYT Stock Position Cut by Vestmark Advisory Solutions Inc.

Key Points

• Vestmark Advisory Solutions Inc. has reduced its stake in Veracyte, Inc. by 30%, now owning approximately 96,205 shares valued at about $2.85 million.
• A significant number of hedge funds have increased their positions in Veracyte, including Versant Capital Management, which boosted its holdings by 1,267.6% during the first quarter.
• Analysts have mixed views on Veracyte, with average ratings indicating a "Moderate Buy" and a target price around $40.90, despite varying individual target prices among firms.

Vestmark Advisory Solutions Inc. decreased its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 30.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 96,205 shares of the biotechnology company's stock after selling 41,162 shares during the period. Vestmark Advisory Solutions Inc. owned 0.12% of Veracyte worth $2,852,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its stake in shares of Veracyte by 28.7% during the 4th quarter. Wells Fargo & Company MN now owns 51,131 shares of the biotechnology company's stock worth $2,025,000 after acquiring an additional 11,387 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Veracyte by 233.3% in the 4th quarter. Russell Investments Group Ltd. now owns 65,541 shares of the biotechnology company's stock worth $2,595,000 after buying an additional 45,876 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Veracyte by 6.4% in the 4th quarter. Cerity Partners LLC now owns 13,486 shares of the biotechnology company's stock worth $524,000 after buying an additional 814 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Veracyte by 2.2% in the 4th quarter. Invesco Ltd. now owns 329,568 shares of the biotechnology company's stock worth $13,051,000 after buying an additional 7,042 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Veracyte in the 4th quarter worth about $1,626,000.

Wall Street Analyst Weigh In

VCYT has been the subject of several research reports. Wall Street Zen raised shares of Veracyte from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Needham & Company LLC reduced their price target on shares of Veracyte from $51.00 to $41.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. UBS Group reduced their price target on shares of Veracyte from $49.00 to $42.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Finally, Morgan Stanley set a $28.00 target price on shares of Veracyte and gave the stock an "underweight" rating in a report on Friday, August 8th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $40.90.

Veracyte Stock Up 0.6%

Shares of VCYT stock traded up $0.1650 on Thursday, reaching $29.6550. 174,112 shares of the stock were exchanged, compared to its average volume of 1,162,068. The stock has a market cap of $2.33 billion, a P/E ratio of 89.76 and a beta of 1.97. The firm has a 50 day moving average of $26.45 and a two-hundred day moving average of $30.26. Veracyte, Inc. has a 1-year low of $22.61 and a 1-year 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.