Y Intercept Hong Kong Ltd Raises Position in Veracyte, Inc. (NASDAQ:VCYT)

Y Intercept Hong Kong Ltd grew its holdings in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 114.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,777 shares of the biotechnology company's stock after purchasing an additional 24,416 shares during the quarter. Y Intercept Hong Kong Ltd owned about 0.06% of Veracyte worth $1,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in VCYT. Allspring Global Investments Holdings LLC boosted its holdings in Veracyte by 54.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,538 shares of the biotechnology company's stock worth $400,000 after acquiring an additional 4,792 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Veracyte by 122.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,199 shares of the biotechnology company's stock valued at $540,000 after buying an additional 10,022 shares during the last quarter. Principal Financial Group Inc. increased its stake in Veracyte by 9.5% in the 1st quarter. Principal Financial Group Inc. now owns 35,663 shares of the biotechnology company's stock valued at $1,057,000 after buying an additional 3,103 shares during the last quarter. Bayesian Capital Management LP bought a new position in shares of Veracyte in the fourth quarter valued at approximately $693,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Veracyte by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 248,224 shares of the biotechnology company's stock valued at $7,360,000 after acquiring an additional 4,772 shares in the last quarter.

Veracyte Price Performance

Shares of Veracyte stock traded up $1.66 during trading hours on Friday, reaching $25.25. The company had a trading volume of 5,361,108 shares, compared to its average volume of 1,009,519. Veracyte, Inc. has a one year low of $19.73 and a one year high of $47.32. The business has a fifty day simple moving average of $26.70 and a 200 day simple moving average of $32.36. The firm has a market cap of $1.98 billion, a PE ratio of 61.59 and a beta of 2.07.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on VCYT shares. Needham & Company LLC reduced their target price on 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 lowered Veracyte from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. Guggenheim reduced their target price on Veracyte from $45.00 to $37.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Finally, UBS Group reduced their target price on Veracyte from $49.00 to $42.00 and set a "buy" rating for the company in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.