Veracyte, Inc. (NASDAQ:VCYT - Get Free Report) rose 12.5% during trading on Thursday . The company traded as high as $27.29 and last traded at $26.97. Approximately 1,512,478 shares changed hands during mid-day trading, an increase of 33% from the average daily volume of 1,140,932 shares. The stock had previously closed at $23.97.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on VCYT shares. Needham & Company LLC lowered their price objective 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. Wall Street Zen raised shares of Veracyte from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Guggenheim lowered their price objective 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. Finally, UBS Group lowered their price objective 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $40.90.
Check Out Our Latest Stock Report on Veracyte
Veracyte Stock Performance
The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 67.51 and a beta of 1.97. The firm has a 50-day simple moving average of $26.06 and a two-hundred day simple moving average of $31.26.
Institutional Investors Weigh In On Veracyte
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Veracyte during the second quarter worth $25,000. Versant Capital Management Inc grew its holdings in Veracyte by 1,267.6% during the first quarter. Versant Capital Management Inc now owns 930 shares of the biotechnology company's stock worth $28,000 after acquiring an additional 862 shares during the period. Headlands Technologies LLC acquired a new position in Veracyte during the first quarter worth $48,000. GF Fund Management CO. LTD. acquired a new position in Veracyte during the fourth quarter worth $64,000. Finally, Covestor Ltd grew its holdings in Veracyte by 23,936.4% during the first quarter. Covestor Ltd now owns 2,644 shares of the biotechnology company's stock worth $78,000 after acquiring an additional 2,633 shares during the period.
About Veracyte
(
Get Free Report)
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.
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