Wealth Enhancement Advisory Services LLC Boosts Stock Position in Veracyte, Inc. (NASDAQ:VCYT)

Wealth Enhancement Advisory Services LLC raised its holdings in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 122.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,199 shares of the biotechnology company's stock after acquiring an additional 10,022 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Veracyte were worth $540,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Jones Financial Companies Lllp increased its holdings in shares of Veracyte by 49.7% during the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock worth $28,000 after buying an additional 237 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Veracyte by 1,267.6% during the 1st quarter. Versant Capital Management Inc now owns 930 shares of the biotechnology company's stock worth $28,000 after buying an additional 862 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Veracyte during the 4th quarter worth approximately $64,000. US Bancorp DE increased its holdings in shares of Veracyte by 57.4% during the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company's stock worth $70,000 after buying an additional 647 shares during the last quarter. Finally, Sterling Capital Management LLC increased its holdings in Veracyte by 810.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,421 shares of the biotechnology company's stock valued at $96,000 after purchasing an additional 2,155 shares during the last quarter.

Analyst Ratings Changes

Several research firms recently weighed in on VCYT. Needham & Company LLC dropped their target price on shares of Veracyte from $51.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Wall Street Zen downgraded shares of Veracyte from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. UBS Group dropped their target price on shares of Veracyte from $49.00 to $42.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Craig Hallum began coverage on shares of Veracyte in a report on Thursday, March 20th. They issued a "buy" rating and a $45.00 target price for the company. Finally, Guggenheim dropped their target price 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Veracyte has an average rating of "Moderate Buy" and an average price target of $40.90.

Veracyte Stock Performance

Shares of NASDAQ:VCYT traded down $0.07 during trading on Friday, hitting $27.51. The company's stock had a trading volume of 445,469 shares, compared to its average volume of 918,675. The business has a 50 day moving average price of $28.10 and a two-hundred day moving average price of $33.81. The company has a market capitalization of $2.15 billion, a PE ratio of 67.10 and a beta of 2.07. Veracyte, Inc. has a fifty-two week low of $19.73 and a fifty-two week high of $47.32.

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.