Wellington Management Group LLP Has $114.25 Million Stake in Veracyte, Inc. $VCYT

Key Points

• Wellington Management Group LLP has decreased its stake in Veracyte, Inc. to approximately $114.25 million, after selling 231,438 shares, now holding 3,853,121 shares.
• Various institutional investors like Raymond James and EverSource Wealth Advisors have significantly increased their stakes, showing growing interest in Veracyte.
• Analysts have mixed opinions on Veracyte's stock, with some upgrading their ratings and others reducing price targets, resulting in an average target price of $40.90 and a rating of "Moderate Buy."

Wellington Management Group LLP reduced its holdings in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 5.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,853,121 shares of the biotechnology company's stock after selling 231,438 shares during the period. Wellington Management Group LLP owned approximately 4.92% of Veracyte worth $114,245,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwest & Ethical Investments L.P. bought a new stake in shares of Veracyte during the 1st quarter valued at $456,000. Raymond James Financial Inc. grew its stake in shares of Veracyte by 418.9% during the first quarter. Raymond James Financial Inc. now owns 213,074 shares of the biotechnology company's stock worth $6,318,000 after purchasing an additional 172,010 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Veracyte by 13,416.9% in the first quarter. EverSource Wealth Advisors LLC now owns 15,950 shares of the biotechnology company's stock valued at $473,000 after purchasing an additional 15,832 shares during the last quarter. Legal Advantage Investments Inc. increased its stake in shares of Veracyte by 79.3% in the 1st quarter. Legal Advantage Investments Inc. now owns 11,306 shares of the biotechnology company's stock valued at $335,000 after acquiring an additional 5,000 shares during the last quarter. Finally, E Fund Management Co. Ltd. increased its stake in shares of Veracyte by 62.2% in the 1st quarter. E Fund Management Co. Ltd. now owns 10,371 shares of the biotechnology company's stock valued at $308,000 after acquiring an additional 3,979 shares during the last quarter.

Veracyte Trading Down 0.2%

VCYT opened at $29.43 on Friday. The stock has a market capitalization of $2.32 billion, a P/E ratio of 89.18 and a beta of 1.97. Veracyte, Inc. has a 12 month low of $22.61 and a 12 month high of $47.32. The firm's fifty day simple moving average is $26.51 and its 200 day simple moving average is $30.15.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on VCYT shares. Needham & Company LLC reduced their price objective 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. Morgan Stanley set a $28.00 price target on shares of Veracyte and gave the stock an "underweight" rating in a research report on Friday, August 8th. UBS Group decreased their price target 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. Finally, Wall Street Zen upgraded shares of Veracyte from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $40.90.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.