Veracyte, Inc. (NASDAQ:VCYT) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN grew its stake in Veracyte, Inc. (NASDAQ:VCYT) by 28.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,131 shares of the biotechnology company’s stock after acquiring an additional 11,387 shares during the quarter. Wells Fargo & Company MN’s holdings in Veracyte were worth $2,025,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bryce Point Capital LLC acquired a new stake in shares of Veracyte during the fourth quarter worth about $1,021,000. Alliancebernstein L.P. lifted its position in shares of Veracyte by 2.1% during the 4th quarter. Alliancebernstein L.P. now owns 98,420 shares of the biotechnology company’s stock worth $3,897,000 after buying an additional 2,000 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Veracyte by 134.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 635,110 shares of the biotechnology company’s stock valued at $25,150,000 after acquiring an additional 363,862 shares in the last quarter. Norges Bank acquired a new stake in shares of Veracyte in the 4th quarter valued at about $8,934,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in shares of Veracyte by 90.3% during the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 18,156 shares of the biotechnology company’s stock worth $719,000 after acquiring an additional 8,615 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have weighed in on VCYT shares. Needham & Company LLC reiterated a “buy” rating and issued a $51.00 target price on shares of Veracyte in a research note on Tuesday, February 25th. Guggenheim dropped their target price 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. StockNews.com downgraded Veracyte from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Stephens reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Veracyte in a research note on Wednesday, March 26th. Finally, UBS Group raised their price target on shares of Veracyte from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.60.

Veracyte Trading Up 0.3 %

Shares of NASDAQ:VCYT opened at $32.23 on Friday. The firm has a market cap of $2.51 billion, a P/E ratio of -214.87 and a beta of 2.03. Veracyte, Inc. has a twelve month low of $19.16 and a twelve month high of $47.32. The company has a 50 day moving average of $32.25 and a 200-day moving average of $37.28.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The business had revenue of $118.63 million for the quarter, compared to analysts’ expectations of $110.73 million. During the same period in the previous year, the firm posted ($0.39) EPS. Equities research analysts forecast that Veracyte, Inc. will post 0.68 EPS for the current year.

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.