Allspring Global Investments Holdings LLC Purchases 4,792 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Allspring Global Investments Holdings LLC grew its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 54.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,538 shares of the biotechnology company’s stock after buying an additional 4,792 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Veracyte were worth $400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of VCYT. Jones Financial Companies Lllp raised its holdings in Veracyte by 49.7% in the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 237 shares during the period. Versant Capital Management Inc raised its holdings in 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 period. GF Fund Management CO. LTD. bought a new position in Veracyte in the 4th quarter worth $64,000. US Bancorp DE raised its holdings in Veracyte by 57.4% in the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock worth $70,000 after purchasing an additional 647 shares during the period. Finally, Sterling Capital Management LLC raised its holdings in Veracyte by 810.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,421 shares of the biotechnology company’s stock worth $96,000 after purchasing an additional 2,155 shares during the period.

Veracyte Stock Up 1.6%

NASDAQ:VCYT opened at $27.52 on Friday. Veracyte, Inc. has a 52 week low of $19.73 and a 52 week high of $47.32. The business’s 50-day simple moving average is $27.79 and its two-hundred day simple moving average is $33.48. The stock has a market cap of $2.16 billion, a PE ratio of 67.12 and a beta of 2.07.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wall Street Zen cut Veracyte from a “buy” rating to a “hold” rating in a report on Saturday, June 28th. Guggenheim decreased their target price on Veracyte from $45.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Stephens reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Veracyte in a report on Wednesday, March 26th. Needham & Company LLC decreased their price target on Veracyte from $51.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Finally, Craig Hallum initiated coverage on Veracyte in a report on Thursday, March 20th. They set a “buy” rating and a $45.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.90.

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.