Victory Capital Management Inc. Buys 41,248 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Victory Capital Management Inc. lifted its position in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 73.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 97,786 shares of the biotechnology company's stock after acquiring an additional 41,248 shares during the period. Victory Capital Management Inc. owned 0.13% of Veracyte worth $2,899,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Synovus Financial Corp lifted its holdings in Veracyte by 1.2% in the fourth quarter. Synovus Financial Corp now owns 23,132 shares of the biotechnology company's stock worth $916,000 after purchasing an additional 267 shares during the period. Xponance Inc. lifted its holdings in Veracyte by 5.7% in the first quarter. Xponance Inc. now owns 6,860 shares of the biotechnology company's stock worth $203,000 after purchasing an additional 370 shares during the period. Sherbrooke Park Advisers LLC lifted its holdings in Veracyte by 7.0% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 9,493 shares of the biotechnology company's stock worth $376,000 after purchasing an additional 618 shares during the period. Cerity Partners LLC lifted its holdings in Veracyte by 6.4% in the fourth quarter. Cerity Partners LLC now owns 13,486 shares of the biotechnology company's stock worth $524,000 after purchasing an additional 814 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in Veracyte by 1,267.6% in the first quarter. Versant Capital Management Inc now owns 930 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 862 shares during the period.

Analysts Set New Price Targets

Several research firms recently weighed in on VCYT. Guggenheim reduced their price objective on shares of Veracyte from $45.00 to $37.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Wall Street Zen raised shares of Veracyte from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Needham & Company LLC reduced their price objective on shares of Veracyte from $51.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, UBS Group reduced their price objective on shares of Veracyte from $49.00 to $42.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $40.90.

Veracyte Trading Up 0.1%

VCYT stock traded up $0.03 during midday trading on Friday, hitting $23.54. The stock had a trading volume of 340,387 shares, compared to its average volume of 1,124,671. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 57.40 and a beta of 2.07. Veracyte, Inc. has a 52 week low of $19.73 and a 52 week high of $47.32. The stock has a 50-day simple moving average of $26.30 and a 200 day simple moving average of $31.73.

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.