Russell Investments Group Ltd. Acquires 45,876 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Russell Investments Group Ltd. grew its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 233.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,541 shares of the biotechnology company’s stock after acquiring an additional 45,876 shares during the period. Russell Investments Group Ltd. owned 0.08% of Veracyte worth $2,595,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its holdings in Veracyte by 49.7% in the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 237 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Veracyte by 1.2% during the 4th quarter. Arizona State Retirement System now owns 22,276 shares of the biotechnology company’s stock worth $882,000 after acquiring an additional 264 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Veracyte by 1.9% during the 4th quarter. HighTower Advisors LLC now owns 16,630 shares of the biotechnology company’s stock valued at $659,000 after acquiring an additional 305 shares during the last quarter. Principal Securities Inc. increased its holdings in shares of Veracyte by 34.1% during the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock valued at $76,000 after acquiring an additional 485 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Veracyte by 57.4% in the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock valued at $70,000 after acquiring an additional 647 shares in the last quarter.

Veracyte Trading Down 1.2 %

Shares of NASDAQ VCYT opened at $31.14 on Friday. Veracyte, Inc. has a one year low of $18.61 and a one year high of $47.32. The business has a fifty day simple moving average of $33.35 and a 200 day simple moving average of $37.36. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of -207.60 and a beta of 2.03.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The company had revenue of $118.63 million during the quarter, compared to the consensus estimate of $110.73 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. During the same period last year, the firm earned ($0.39) EPS. On average, research analysts anticipate that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Stephens reissued an “overweight” rating and issued a $45.00 price target on shares of Veracyte in a research report on Wednesday, March 26th. Craig Hallum assumed coverage on shares of Veracyte in a report on Thursday, March 20th. They issued a “buy” rating and a $45.00 target price on the stock. 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. Needham & Company LLC reiterated a “buy” rating and issued a $51.00 price objective on shares of Veracyte in a research note on Tuesday, February 25th. Finally, UBS Group boosted their price objective on Veracyte from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Veracyte currently has an average rating of “Moderate Buy” and a consensus price target of $42.60.

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.