Vanguard Group Inc. Increases Holdings in Veracyte, Inc. $VCYT

Vanguard Group Inc. grew its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 0.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,263,643 shares of the biotechnology company’s stock after buying an additional 52,031 shares during the period. Vanguard Group Inc. owned 10.55% of Veracyte worth $245,017,000 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 the business. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in Veracyte by 68.6% during the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 30,604 shares of the biotechnology company’s stock worth $907,000 after buying an additional 12,448 shares during the last quarter. Blair William & Co. IL lifted its holdings in Veracyte by 3.5% during the 1st quarter. Blair William & Co. IL now owns 16,092 shares of the biotechnology company’s stock worth $477,000 after buying an additional 550 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Veracyte during the 1st quarter worth about $1,228,000. Picton Mahoney Asset Management lifted its holdings in Veracyte by 3,824.9% during the 1st quarter. Picton Mahoney Asset Management now owns 260,495 shares of the biotechnology company’s stock worth $7,723,000 after buying an additional 253,858 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Veracyte by 12.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,368 shares of the biotechnology company’s stock worth $871,000 after buying an additional 3,201 shares during the last quarter.

Veracyte Stock Down 0.5%

VCYT opened at $30.07 on Tuesday. The business has a 50 day moving average price of $26.39 and a two-hundred day moving average price of $30.27. The company has a market cap of $2.37 billion, a PE ratio of 91.12 and a beta of 1.97. Veracyte, Inc. has a 52 week low of $22.61 and a 52 week high of $47.32.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Morgan Stanley set a $28.00 target price on Veracyte and gave the company an “underweight” rating in a report on Friday, August 8th. UBS Group reduced their target price on Veracyte from $49.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Needham & Company LLC reduced their target price on Veracyte from $51.00 to $41.00 and set a “buy” rating for the company in a report 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 research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.90.

About Veracyte

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.