Veracyte, Inc. (NASDAQ:VCYT) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 122.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,199 shares of the biotechnology company's stock after purchasing an additional 10,022 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Veracyte were worth $540,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp increased its position in shares of Veracyte by 49.7% during the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 237 shares in the last quarter. Versant Capital Management Inc boosted its position in Veracyte by 1,267.6% during the first quarter. Versant Capital Management Inc now owns 930 shares of the biotechnology company's stock worth $28,000 after acquiring an additional 862 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in Veracyte during the 4th quarter valued at about $64,000. US Bancorp DE grew its stake in Veracyte by 57.4% during the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company's stock valued at $70,000 after acquiring an additional 647 shares in the last quarter. Finally, Sterling Capital Management LLC raised 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 acquiring an additional 2,155 shares during the last quarter.

Veracyte Stock Performance

Shares of NASDAQ VCYT traded up $0.50 during midday trading on Wednesday, reaching $27.08. 823,071 shares of the stock were exchanged, compared to its average volume of 918,134. Veracyte, Inc. has a twelve month low of $19.73 and a twelve month high of $47.32. The company has a 50 day simple moving average of $27.83 and a 200 day simple moving average of $33.57. The stock has a market capitalization of $2.12 billion, a P/E ratio of 66.05 and a beta of 2.07.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Needham & Company LLC lowered their target price on Veracyte from $51.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Stephens restated an "overweight" rating and set a $45.00 target price on shares of Veracyte in a report on Wednesday, March 26th. Wall Street Zen cut Veracyte from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. UBS Group lowered their target price on Veracyte from $49.00 to $42.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, Craig Hallum assumed coverage on Veracyte in a report on Thursday, March 20th. They set a "buy" rating and a $45.00 target price on the stock. One investment 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $40.90.

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.