Wells Fargo & Company MN Acquires 11,387 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Wells Fargo & Company MN raised its position in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 28.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,131 shares of the biotechnology company's stock after purchasing an additional 11,387 shares during the period. Wells Fargo & Company MN owned 0.07% of Veracyte worth $2,025,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Veracyte by 6.0% in the fourth quarter. Vanguard Group Inc. now owns 8,211,612 shares of the biotechnology company's stock valued at $325,180,000 after acquiring an additional 463,098 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Veracyte by 31.4% during the 4th quarter. Artisan Partners Limited Partnership now owns 6,599,264 shares of the biotechnology company's stock worth $261,331,000 after acquiring an additional 1,576,432 shares in the last quarter. Jennison Associates LLC raised its holdings in Veracyte by 116.3% during the 4th 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 period. New York State Common Retirement Fund raised its holdings in Veracyte by 0.4% during the 4th quarter. New York State Common Retirement Fund now owns 785,971 shares of the biotechnology company's stock worth $31,124,000 after buying an additional 3,111 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Veracyte by 134.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 635,110 shares of the biotechnology company's stock worth $25,150,000 after buying an additional 363,862 shares during the period.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Needham & Company LLC restated a "buy" rating and set a $51.00 price target on shares of Veracyte in a report on Tuesday, February 25th. StockNews.com lowered Veracyte from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Guggenheim reduced 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. UBS Group upped their price target on Veracyte from $46.00 to $49.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Finally, Stephens reiterated an "overweight" rating and set a $45.00 price target on shares of Veracyte in a report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Veracyte has an average rating of "Moderate Buy" and an average target price of $42.60.

Veracyte Stock Up 0.1 %

NASDAQ:VCYT traded up $0.03 during trading hours on Thursday, hitting $30.53. 123,432 shares of the stock were exchanged, compared to its average volume of 862,353. The company's 50 day moving average is $31.67 and its two-hundred day moving average is $37.25. The company has a market capitalization of $2.38 billion, a P/E ratio of -203.33 and a beta of 2.03. Veracyte, Inc. has a twelve month low of $19.48 and a twelve month high of $47.32.

Veracyte (NASDAQ:VCYT - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $118.63 million during the quarter, compared to analyst estimates of $110.73 million. During the same period last year, the company earned ($0.39) earnings per share. On average, equities research analysts expect that Veracyte, Inc. will post 0.68 EPS for the current year.

Veracyte Company 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.