Veracyte, Inc. (NASDAQ:VCYT) Stock Holdings Boosted by First Trust Advisors LP

First Trust Advisors LP lifted its holdings in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 155.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 204,042 shares of the biotechnology company's stock after acquiring an additional 124,275 shares during the period. First Trust Advisors LP owned approximately 0.26% of Veracyte worth $8,080,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in VCYT. Jones Financial Companies Lllp increased its holdings in Veracyte by 49.7% in the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock valued at $28,000 after purchasing an additional 237 shares in the last quarter. US Bancorp DE boosted its position in shares of Veracyte by 57.4% in the fourth 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 period. Principal Securities Inc. grew its stake in shares of Veracyte by 34.1% in the fourth quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company's stock valued at $76,000 after buying an additional 485 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Veracyte during the 4th quarter valued at about $91,000. Finally, Sterling Capital Management LLC lifted its position in Veracyte by 810.2% during the 4th quarter. Sterling Capital Management LLC now owns 2,421 shares of the biotechnology company's stock worth $96,000 after acquiring an additional 2,155 shares in the last quarter.

Veracyte Stock Performance

Shares of NASDAQ VCYT traded up $0.64 during trading on Friday, reaching $30.35. The stock had a trading volume of 1,748,178 shares, compared to its average volume of 871,750. The stock has a market cap of $2.38 billion, a PE ratio of -202.33 and a beta of 2.14. Veracyte, Inc. has a one year low of $19.73 and a one year high of $47.32. The firm's 50 day moving average price is $31.42 and its two-hundred day moving average price is $37.20.

Veracyte (NASDAQ:VCYT - Get Free Report) last released its earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The firm had revenue of $118.63 million during the quarter, compared to analyst estimates of $110.73 million. During the same quarter in the previous year, the firm earned ($0.39) earnings per share. On average, research analysts expect that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VCYT has been the topic of a number of analyst reports. Craig Hallum began coverage on shares of Veracyte in a research note on Thursday, March 20th. They set a "buy" rating and a $45.00 price objective on the stock. StockNews.com lowered shares of Veracyte from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. Stephens restated an "overweight" rating and set a $45.00 target price on shares of Veracyte in a research note on Wednesday, March 26th. Needham & Company LLC reiterated a "buy" rating and issued a $51.00 price target on shares of Veracyte in a research note on Tuesday, February 25th. Finally, UBS Group raised their price objective on Veracyte from $46.00 to $49.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Veracyte has an average rating of "Moderate Buy" and a consensus price target of $42.60.

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.