Veracyte (NASDAQ:VCYT) Lowered to "Hold" Rating by Wall Street Zen

Wall Street Zen lowered shares of Veracyte (NASDAQ:VCYT - Free Report) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

A number of other research firms have also recently commented on VCYT. Craig Hallum assumed coverage on shares of Veracyte in a research note on Thursday, March 20th. They issued a "buy" rating and a $45.00 target price for the company. UBS Group lowered their target price on shares of Veracyte from $49.00 to $42.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Guggenheim lowered 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. Stephens reiterated an "overweight" rating and issued a $45.00 target price on shares of Veracyte in a research note on Wednesday, March 26th. Finally, Needham & Company LLC lowered their target price on shares of Veracyte from $51.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $40.90.

Veracyte Stock Up 0.5%

Shares of Veracyte stock traded up $0.13 on Friday, reaching $26.74. The stock had a trading volume of 929,578 shares, compared to its average volume of 900,604. The company has a 50 day moving average price of $29.87 and a 200 day moving average price of $36.26. Veracyte has a 1 year low of $19.73 and a 1 year high of $47.32. The stock has a market capitalization of $2.09 billion, a P/E ratio of -178.27 and a beta of 2.14.

Institutional Trading of Veracyte

Several institutional investors and hedge funds have recently bought and sold shares of VCYT. Jones Financial Companies Lllp lifted its stake in Veracyte by 49.7% during the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 237 shares during the period. Versant Capital Management Inc lifted its stake in shares of Veracyte by 1,267.6% in the 1st quarter. Versant Capital Management Inc now owns 930 shares of the biotechnology company's stock valued at $28,000 after purchasing an additional 862 shares during the period. Headlands Technologies LLC acquired a new position in shares of Veracyte in the 1st quarter valued at $48,000. GF Fund Management CO. LTD. acquired a new position in shares of Veracyte in the 4th quarter valued at $64,000. Finally, US Bancorp DE lifted its stake in shares of Veracyte by 57.4% in the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company's stock valued at $70,000 after purchasing an additional 647 shares during the period.

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.