Veracyte, Inc. (NASDAQ:VCYT) Shares Acquired by American International Group Inc.

American International Group Inc. increased its stake in Veracyte, Inc. (NASDAQ:VCYT) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,040 shares of the biotechnology company’s stock after acquiring an additional 456 shares during the period. American International Group Inc.’s holdings in Veracyte were worth $892,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of VCYT. Credit Suisse AG increased its holdings in Veracyte by 0.6% in the third quarter. Credit Suisse AG now owns 74,016 shares of the biotechnology company’s stock valued at $1,229,000 after buying an additional 454 shares during the last quarter. Arizona State Retirement System increased its holdings in Veracyte by 2.9% in the first quarter. Arizona State Retirement System now owns 20,790 shares of the biotechnology company’s stock valued at $464,000 after buying an additional 593 shares during the last quarter. EFG Asset Management Americas Corp. increased its holdings in Veracyte by 4.6% in the first quarter. EFG Asset Management Americas Corp. now owns 14,961 shares of the biotechnology company’s stock valued at $334,000 after buying an additional 659 shares during the last quarter. Assetmark Inc. increased its holdings in Veracyte by 13.0% in the first quarter. Assetmark Inc. now owns 6,065 shares of the biotechnology company’s stock valued at $135,000 after buying an additional 699 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in Veracyte by 1.0% in the third quarter. UBS Asset Management Americas Inc. now owns 76,420 shares of the biotechnology company’s stock valued at $1,269,000 after buying an additional 761 shares during the last quarter.

Veracyte Stock Performance

Shares of VCYT stock opened at $25.02 on Thursday. The stock’s 50-day moving average is $22.56 and its two-hundred day moving average is $24.64. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -36.26 and a beta of 1.65. Veracyte, Inc. has a 1 year low of $19.52 and a 1 year high of $32.40.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Morgan Stanley dropped their target price on Veracyte from $23.00 to $22.00 and set an “underweight” rating on the stock in a report on Friday, November 10th. StockNews.com assumed coverage on Veracyte in a report on Thursday, October 5th. They issued a “hold” rating on the stock. The Goldman Sachs Group dropped their price objective on Veracyte from $37.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, October 20th. Needham & Company LLC dropped their price objective on Veracyte from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. Finally, William Blair reaffirmed an “outperform” rating on shares of Veracyte in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Veracyte has a consensus rating of “Moderate Buy” and an average price target of $30.20.

Veracyte Company Profile

Veracyte, Inc operates as a diagnostics company worldwide. The company offers Afirma Genomic Sequencing Classifier; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis; and Immunoscore Colon Cancer test for colon cancer diagnosis.