Veracyte, Inc. (NASDAQ:VCYT) Given Consensus Recommendation of "Moderate Buy" by Analysts

Veracyte, Inc. (NASDAQ:VCYT - Get Free Report) has been assigned an average rating of "Moderate Buy" from the ten ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $40.90.

Several research firms recently weighed in on VCYT. Craig Hallum began coverage on shares of Veracyte in a research report on Thursday, March 20th. They set a "buy" rating and a $45.00 price objective for the company. Needham & Company LLC lowered their target price on Veracyte from $51.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Guggenheim lowered their target price on Veracyte from $45.00 to $37.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Stephens reissued an "overweight" rating and set a $45.00 target price on shares of Veracyte in a research note on Wednesday, March 26th. Finally, Wall Street Zen raised Veracyte from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in shares of Veracyte by 49.7% in the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock valued at $28,000 after buying an additional 237 shares during the period. Arizona State Retirement System increased its stake in shares of Veracyte by 1.2% in the fourth quarter. Arizona State Retirement System now owns 22,276 shares of the biotechnology company's stock valued at $882,000 after buying an additional 264 shares during the period. Synovus Financial Corp increased its stake in shares of Veracyte by 1.2% in the fourth quarter. Synovus Financial Corp now owns 23,132 shares of the biotechnology company's stock valued at $916,000 after buying an additional 267 shares during the period. HighTower Advisors LLC increased its stake in shares of Veracyte by 1.9% in the fourth quarter. HighTower Advisors LLC now owns 16,630 shares of the biotechnology company's stock valued at $659,000 after buying an additional 305 shares during the period. Finally, Xponance Inc. increased its stake in shares of Veracyte by 5.7% in the first quarter. Xponance Inc. now owns 6,860 shares of the biotechnology company's stock valued at $203,000 after buying an additional 370 shares during the period.

Veracyte Price Performance

VCYT traded up $0.36 on Monday, hitting $26.81. 919,724 shares of the stock were exchanged, compared to its average volume of 905,626. Veracyte has a 12 month low of $19.73 and a 12 month high of $47.32. The business has a 50-day moving average of $28.68 and a two-hundred day moving average of $34.61. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 65.39 and a beta of 2.09.

About Veracyte

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.