US Bancorp DE Cuts Stock Position in Veracyte, Inc. $VCYT

US Bancorp DE cut its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 19.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,423 shares of the biotechnology company’s stock after selling 351 shares during the period. US Bancorp DE’s holdings in Veracyte were worth $42,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of VCYT. Wells Fargo & Company MN raised its holdings in Veracyte by 28.7% in the fourth quarter. Wells Fargo & Company MN now owns 51,131 shares of the biotechnology company’s stock valued at $2,025,000 after acquiring an additional 11,387 shares in the last quarter. Cerity Partners LLC increased its stake in Veracyte by 6.4% in the fourth quarter. Cerity Partners LLC now owns 13,486 shares of the biotechnology company’s stock valued at $524,000 after purchasing an additional 814 shares during the last quarter. Invesco Ltd. increased its stake in Veracyte by 2.2% in the fourth quarter. Invesco Ltd. now owns 329,568 shares of the biotechnology company’s stock valued at $13,051,000 after purchasing an additional 7,042 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Veracyte in the fourth quarter valued at approximately $1,626,000. Finally, Sterling Capital Management LLC increased its stake in Veracyte by 810.2% in the fourth quarter. Sterling Capital Management LLC now owns 2,421 shares of the biotechnology company’s stock valued at $96,000 after purchasing an additional 2,155 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have commented on VCYT. Wall Street Zen upgraded shares of Veracyte from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. UBS Group dropped their price target on shares of Veracyte from $49.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Morgan Stanley set a $28.00 price target on shares of Veracyte and gave the company an “underweight” rating in a research note on Friday, August 8th. Finally, Needham & Company LLC dropped their price target on shares of Veracyte from $51.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.90.

Veracyte Price Performance

Shares of NASDAQ VCYT opened at $29.57 on Wednesday. The stock has a fifty day moving average price of $26.42 and a 200 day moving average price of $30.26. Veracyte, Inc. has a 1-year low of $22.61 and a 1-year high of $47.32. The company has a market cap of $2.33 billion, a PE ratio of 89.61 and a beta of 1.97.

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.