Y Intercept Hong Kong Ltd Grows Stock Holdings in Veracyte, Inc. (NASDAQ:VCYT)

Y Intercept Hong Kong Ltd increased its position in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 114.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 approximately 0.06% of Veracyte worth $1,357,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Veracyte by 6.0% during the 4th quarter. Vanguard Group Inc. now owns 8,211,612 shares of the biotechnology company's stock valued at $325,180,000 after purchasing an additional 463,098 shares during the last quarter. Artisan Partners Limited Partnership raised its position in Veracyte by 31.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 6,599,264 shares of the biotechnology company's stock worth $261,331,000 after acquiring an additional 1,576,432 shares during the period. ArrowMark Colorado Holdings LLC boosted its stake in Veracyte by 3.3% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 3,080,027 shares of the biotechnology company's stock valued at $121,969,000 after acquiring an additional 97,824 shares during the last quarter. GW&K Investment Management LLC boosted its stake in Veracyte by 3.7% in the first quarter. GW&K Investment Management LLC now owns 1,256,893 shares of the biotechnology company's stock valued at $37,267,000 after acquiring an additional 44,826 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Veracyte by 0.7% during the 4th quarter. Nuveen Asset Management LLC now owns 1,194,392 shares of the biotechnology company's stock valued at $47,298,000 after acquiring an additional 8,797 shares during the period.

Veracyte Trading Up 7.0%

Shares of Veracyte stock traded up $1.66 on Friday, reaching $25.25. The stock had a trading volume of 5,361,108 shares, compared to its average volume of 973,784. The business's 50 day moving average is $26.62 and its two-hundred day moving average is $32.16. Veracyte, Inc. has a 1 year low of $19.73 and a 1 year high of $47.32. The company has a market cap of $1.98 billion, a P/E ratio of 61.59 and a beta of 2.07.

Analyst Upgrades and Downgrades

VCYT has been the topic of several research analyst reports. Guggenheim dropped their price objective on Veracyte from $45.00 to $37.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. UBS Group cut their price target on Veracyte from $49.00 to $42.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Needham & Company LLC decreased their price objective on Veracyte from $51.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, Wall Street Zen raised shares of Veracyte from a "hold" rating to a "buy" rating in a report on Saturday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company 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.