Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Veracyte, Inc. (NASDAQ:VCYT)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 12.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,368 shares of the biotechnology company’s stock after purchasing an additional 3,201 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Veracyte were worth $871,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc grew its holdings in Veracyte by 1,267.6% in the first quarter. Versant Capital Management Inc now owns 930 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 862 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Veracyte during the 4th quarter valued at approximately $64,000. Sterling Capital Management LLC grew its stake in Veracyte by 810.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,421 shares of the biotechnology company’s stock valued at $96,000 after acquiring an additional 2,155 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Veracyte in the 4th quarter worth $152,000. Finally, Neuberger Berman Group LLC purchased a new stake in Veracyte in the 4th quarter worth $201,000.

Analyst Upgrades and Downgrades

VCYT has been the topic of several recent analyst reports. Needham & Company LLC decreased their price objective on shares of Veracyte from $51.00 to $41.00 and set a “buy” rating on the stock in a 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 on the stock in a research note on Wednesday, April 9th. UBS Group cut their price objective on Veracyte from $49.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Finally, Wall Street Zen raised Veracyte from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Veracyte currently has an average rating of “Moderate Buy” and a consensus target price of $40.90.

Veracyte Price Performance

VCYT opened at $25.01 on Wednesday. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 61.00 and a beta of 1.97. The company’s 50 day simple moving average is $26.12 and its two-hundred day simple moving average is $31.31. Veracyte, Inc. has a 1-year low of $20.73 and a 1-year high of $47.32.

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.