Wealth Enhancement Advisory Services LLC Grows Holdings in Veracyte, Inc. (NASDAQ:VCYT)

Wealth Enhancement Advisory Services LLC increased its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 122.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,199 shares of the biotechnology company’s stock after buying an additional 10,022 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Veracyte were worth $540,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VCYT. Assenagon Asset Management S.A. increased its position in shares of Veracyte by 1,705.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 488,061 shares of the biotechnology company’s stock worth $14,471,000 after purchasing an additional 461,023 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Veracyte by 4,351.0% in the 1st quarter. GAMMA Investing LLC now owns 19,273 shares of the biotechnology company’s stock worth $571,000 after purchasing an additional 18,840 shares during the last quarter. Versant Capital Management Inc increased its position 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 worth $28,000 after purchasing an additional 862 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Veracyte in the 4th quarter worth about $6,990,000. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Veracyte in the 4th quarter worth about $64,000.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VCYT. Wall Street Zen downgraded shares of Veracyte from a “buy” rating to a “hold” rating in a research report on Saturday, June 28th. Needham & Company LLC dropped their target price on shares of Veracyte from $51.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Guggenheim decreased their price target on shares of Veracyte from $45.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. UBS Group decreased their price target on shares of Veracyte from $49.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Finally, Stephens reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Veracyte in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Veracyte has an average rating of “Moderate Buy” and an average price target of $40.90.

Veracyte Trading Down 0.3%

NASDAQ VCYT opened at $27.51 on Friday. The company has a 50-day moving average price of $28.10 and a two-hundred day moving average price of $33.81. Veracyte, Inc. has a 52 week low of $19.73 and a 52 week high of $47.32. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 67.10 and a beta of 2.07.

Veracyte 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.