Oberweis Asset Management Inc. Has $29.65 Million Stake in Veracyte, Inc. (NASDAQ:VCYT)

Oberweis Asset Management Inc. grew its stake in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 748,720 shares of the biotechnology company's stock after purchasing an additional 32,800 shares during the period. Veracyte makes up approximately 1.4% of Oberweis Asset Management Inc.'s holdings, making the stock its 8th largest holding. Oberweis Asset Management Inc. owned approximately 0.97% of Veracyte worth $29,649,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Artisan Partners Limited Partnership grew 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 valued at $261,331,000 after acquiring an additional 1,576,432 shares during the period. Marshall Wace LLP grew its holdings in shares of Veracyte by 768.9% in the 4th quarter. Marshall Wace LLP now owns 956,577 shares of the biotechnology company's stock worth $37,880,000 after purchasing an additional 846,487 shares during the last quarter. Vanguard Group Inc. lifted its holdings in 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. Jennison Associates LLC grew its stake in Veracyte by 116.3% during the fourth quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company's stock worth $33,017,000 after buying an additional 448,251 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of Veracyte during the fourth quarter worth approximately $16,224,000.

Veracyte Trading Up 0.2 %

Shares of NASDAQ:VCYT traded up $0.08 during trading on Tuesday, hitting $31.75. 265,959 shares of the company's stock were exchanged, compared to its average volume of 860,388. The firm has a market cap of $2.47 billion, a P/E ratio of -211.60 and a beta of 2.03. The firm has a 50-day moving average price of $32.04 and a two-hundred day moving average price of $37.34. Veracyte, Inc. has a 1-year low of $19.48 and a 1-year high of $47.32.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on VCYT shares. StockNews.com lowered Veracyte from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Needham & Company LLC restated a "buy" rating and issued a $51.00 target price on shares of Veracyte in a research note on Tuesday, February 25th. Stephens reiterated an "overweight" rating and set a $45.00 price target on shares of Veracyte in a research report on Wednesday, March 26th. Craig Hallum began coverage on shares of Veracyte in a report on Thursday, March 20th. They set a "buy" rating and a $45.00 price objective on the stock. Finally, Guggenheim dropped their target price on shares of Veracyte from $45.00 to $37.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.