Veracyte, Inc. (NASDAQ:VCYT) Stock Position Raised by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its position in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 233.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 65,541 shares of the biotechnology company's stock after purchasing an additional 45,876 shares during the quarter. Russell Investments Group Ltd. owned about 0.08% of Veracyte worth $2,595,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VCYT. Vanguard Group Inc. lifted its holdings in Veracyte by 6.0% in the fourth quarter. Vanguard Group Inc. now owns 8,211,612 shares of the biotechnology company's stock worth $325,180,000 after purchasing an additional 463,098 shares during the period. Artisan Partners Limited Partnership raised its position in shares of Veracyte by 31.4% during the 4th quarter. Artisan Partners Limited Partnership now owns 6,599,264 shares of the biotechnology company's stock worth $261,331,000 after buying an additional 1,576,432 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Veracyte by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,844,713 shares of the biotechnology company's stock worth $62,806,000 after acquiring an additional 17,921 shares during the period. Jennison Associates LLC boosted its holdings in shares of Veracyte by 116.3% in the fourth quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company's stock valued at $33,017,000 after acquiring an additional 448,251 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in Veracyte by 0.4% in the fourth quarter. New York State Common Retirement Fund now owns 785,971 shares of the biotechnology company's stock worth $31,124,000 after purchasing an additional 3,111 shares during the period.

Veracyte Stock Performance

Shares of VCYT stock traded up $1.18 on Wednesday, reaching $32.31. 142,495 shares of the company's stock traded hands, compared to its average volume of 858,798. The business's 50 day moving average price is $32.79 and its two-hundred day moving average price is $37.35. The company has a market capitalization of $2.52 billion, a P/E ratio of -215.40 and a beta of 2.03. Veracyte, Inc. has a 12-month low of $19.09 and a 12-month high of $47.32.

Veracyte (NASDAQ:VCYT - Get Free Report) last posted its quarterly 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. The business had revenue of $118.63 million during the quarter, compared to analyst estimates 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 in the prior year, the firm earned ($0.39) earnings per share. Research analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VCYT. Stephens reissued an "overweight" rating and issued a $45.00 price objective on shares of Veracyte in a research note on Wednesday, March 26th. UBS Group upped their price target on shares of Veracyte from $46.00 to $49.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Craig Hallum began coverage on shares of Veracyte in a research note on Thursday, March 20th. They issued a "buy" rating and a $45.00 price objective on the stock. StockNews.com lowered shares of Veracyte from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $51.00 price target on shares of Veracyte in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average 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.