Oberweis Asset Management Inc. Has $29.65 Million Position in Veracyte, Inc. (NASDAQ:VCYT)

Oberweis Asset Management Inc. boosted its stake in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 748,720 shares of the biotechnology company's stock after acquiring an additional 32,800 shares during the quarter. Veracyte accounts for 1.4% of Oberweis Asset Management Inc.'s portfolio, making the stock its 8th largest position. Oberweis Asset Management Inc. owned approximately 0.97% of Veracyte worth $29,649,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its position in shares of Veracyte by 49.7% during the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock worth $28,000 after buying an additional 237 shares during the period. Arizona State Retirement System raised its holdings in shares of Veracyte by 1.2% in the fourth quarter. Arizona State Retirement System now owns 22,276 shares of the biotechnology company's stock valued at $882,000 after purchasing an additional 264 shares during the last quarter. Synovus Financial Corp boosted its holdings in Veracyte by 1.2% during the fourth quarter. Synovus Financial Corp now owns 23,132 shares of the biotechnology company's stock worth $916,000 after purchasing an additional 267 shares during the last quarter. HighTower Advisors LLC grew its position in Veracyte by 1.9% in the fourth quarter. HighTower Advisors LLC now owns 16,630 shares of the biotechnology company's stock valued at $659,000 after purchasing an additional 305 shares in the last quarter. Finally, Principal Securities Inc. increased its stake in Veracyte by 34.1% in the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company's stock valued at $76,000 after buying an additional 485 shares during the last quarter.

Veracyte Stock Performance

NASDAQ:VCYT traded up $0.09 during mid-day trading on Friday, hitting $32.23. 478,110 shares of the stock were exchanged, compared to its average volume of 863,279. The firm's 50-day simple moving average is $32.25 and its 200 day simple moving average is $37.32. Veracyte, Inc. has a fifty-two week low of $19.48 and a fifty-two week high of $47.32. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of -214.87 and a beta of 2.03.

Veracyte (NASDAQ:VCYT - Get Free Report) last posted its earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share 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 company had revenue of $118.63 million during the quarter, compared to the consensus estimate of $110.73 million. During the same quarter last year, the firm earned ($0.39) earnings per share. On average, analysts predict that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Guggenheim lowered their target price on Veracyte from $45.00 to $37.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Needham & Company LLC reiterated a "buy" rating and set a $51.00 price objective on shares of Veracyte in a research note on Tuesday, February 25th. Craig Hallum assumed coverage on shares of Veracyte in a research report on Thursday, March 20th. They issued a "buy" rating and a $45.00 price objective for the company. UBS Group raised their target price on shares of Veracyte from $46.00 to $49.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Finally, Stephens reissued an "overweight" rating and set a $45.00 price target on shares of Veracyte in a research report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $42.60.

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.