Veracyte, Inc. (NASDAQ:VCYT) Shares Bought by Driehaus Capital Management LLC

Driehaus Capital Management LLC lifted its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 226.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,183,766 shares of the biotechnology company's stock after purchasing an additional 821,554 shares during the quarter. Driehaus Capital Management LLC owned about 1.53% of Veracyte worth $46,877,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp boosted its stake in Veracyte by 49.7% in the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock worth $28,000 after buying an additional 237 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Veracyte by 1.2% during the 4th quarter. Arizona State Retirement System now owns 22,276 shares of the biotechnology company's stock worth $882,000 after acquiring an additional 264 shares during the period. Synovus Financial Corp boosted its position 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 worth $916,000 after acquiring an additional 267 shares during the last quarter. HighTower Advisors LLC grew its holdings in 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 purchasing an additional 305 shares during the period. Finally, Principal Securities Inc. increased its position in Veracyte by 34.1% during the fourth quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company's stock worth $76,000 after purchasing an additional 485 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. 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 for the company. StockNews.com downgraded Veracyte from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Needham & Company LLC cut their price objective on Veracyte from $51.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday. Stephens reiterated an "overweight" rating and set a $45.00 target price on shares of Veracyte in a report on Wednesday, March 26th. Finally, Guggenheim cut their price target on shares of Veracyte from $45.00 to $37.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.90.

Veracyte Price Performance

Veracyte stock traded down $1.84 during midday trading on Friday, hitting $29.37. 1,498,608 shares of the stock were exchanged, compared to its average volume of 884,792. Veracyte, Inc. has a 1 year low of $19.73 and a 1 year high of $47.32. The firm has a market cap of $2.30 billion, a P/E ratio of -195.80 and a beta of 2.14. The company has a 50 day moving average price of $31.05 and a two-hundred day moving average price of $37.12.

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

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.