Invesco Ltd. Acquires 7,042 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Invesco Ltd. boosted its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 329,568 shares of the biotechnology company’s stock after purchasing an additional 7,042 shares during the quarter. Invesco Ltd. owned about 0.43% of Veracyte worth $13,051,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in VCYT. Ieq Capital LLC acquired a new position in Veracyte during the 4th quarter worth approximately $580,000. Barclays PLC lifted its holdings in shares of Veracyte by 138.6% in the 3rd quarter. Barclays PLC now owns 146,402 shares of the biotechnology company’s stock worth $4,983,000 after purchasing an additional 85,033 shares in the last quarter. Jennison Associates LLC grew its position in Veracyte by 116.3% in the 4th quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company’s stock valued at $33,017,000 after purchasing an additional 448,251 shares during the period. KBC Group NV increased its stake in Veracyte by 44.6% during the 4th quarter. KBC Group NV now owns 3,872 shares of the biotechnology company’s stock valued at $153,000 after purchasing an additional 1,195 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Veracyte during the fourth quarter worth $1,179,000.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Craig Hallum assumed coverage on shares of Veracyte in a report on Thursday, March 20th. They issued a “buy” rating and a $45.00 target price on the stock. Stephens reaffirmed an “overweight” rating and set a $45.00 target price on shares of Veracyte in a research report on Wednesday, March 26th. UBS Group increased their price target on Veracyte from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Needham & Company LLC reiterated a “buy” rating and issued a $51.00 target price on shares of Veracyte in a research note on Tuesday, February 25th. Finally, Guggenheim dropped their price target on shares of Veracyte from $45.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. One 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.60.

Veracyte Stock Down 1.7 %

Veracyte stock opened at $30.60 on Tuesday. The firm has a 50 day moving average price of $32.95 and a 200-day moving average price of $37.39. Veracyte, Inc. has a twelve month low of $19.09 and a twelve month high of $47.32. The company has a market capitalization of $2.39 billion, a P/E ratio of -204.00 and a beta of 2.03.

Veracyte (NASDAQ:VCYT) last released its earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (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 business had revenue of $118.63 million during the quarter, compared to the consensus estimate of $110.73 million. During the same period last year, the business posted ($0.39) earnings per share. Equities analysts expect that Veracyte, Inc. will post 0.68 EPS for the current fiscal 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.