Zacks Investment Management Buys 16,603 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Zacks Investment Management grew its stake in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 50.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,598 shares of the biotechnology company's stock after purchasing an additional 16,603 shares during the period. Zacks Investment Management owned approximately 0.06% of Veracyte worth $1,964,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of VCYT. Marshall Wace LLP grew its position in Veracyte by 768.9% during the 4th quarter. Marshall Wace LLP now owns 956,577 shares of the biotechnology company's stock worth $37,880,000 after acquiring an additional 846,487 shares during the last quarter. Guggenheim Capital LLC acquired a new position in Veracyte during the 4th quarter worth $782,000. Mariner LLC lifted its holdings in Veracyte by 30.1% during the 4th quarter. Mariner LLC now owns 8,988 shares of the biotechnology company's stock worth $356,000 after buying an additional 2,077 shares in the last quarter. Barclays PLC lifted its holdings in Veracyte by 6.1% during the 4th quarter. Barclays PLC now owns 155,338 shares of the biotechnology company's stock worth $6,150,000 after buying an additional 8,936 shares in the last quarter. Finally, Synovus Financial Corp lifted its holdings in Veracyte by 1.2% during the 4th quarter. Synovus Financial Corp now owns 23,132 shares of the biotechnology company's stock worth $916,000 after buying an additional 267 shares in the last quarter.

Veracyte Stock Performance

VCYT traded up $0.53 during trading on Thursday, reaching $32.00. 107,535 shares of the stock were exchanged, compared to its average volume of 860,201. The stock has a market cap of $2.49 billion, a P/E ratio of -213.42 and a beta of 2.03. Veracyte, Inc. has a twelve month low of $19.09 and a twelve month high of $47.32. The stock's 50 day moving average price is $32.59 and its two-hundred day moving average price is $37.31.

Veracyte (NASDAQ:VCYT - Get Free Report) last issued 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 negative net margin of 2.18% and a positive return on equity of 3.02%. The business had revenue of $118.63 million for the quarter, compared to the consensus estimate of $110.73 million. During the same period in the previous year, the company earned ($0.39) earnings per share. Equities research analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VCYT has been the topic of several analyst reports. StockNews.com lowered Veracyte from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Craig Hallum assumed coverage on shares of Veracyte in a report on Thursday, March 20th. They set a "buy" rating and a $45.00 price objective for the company. UBS Group boosted their price objective on shares of Veracyte from $46.00 to $49.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Stephens restated an "overweight" rating and set a $45.00 price objective on shares of Veracyte in a report on Wednesday, March 26th. Finally, Needham & Company LLC restated a "buy" rating and set a $51.00 price objective on shares of Veracyte in a report 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 company's stock. According to data from MarketBeat.com, Veracyte has a consensus 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.