State of Wyoming Raises Stake in Veracyte, Inc. (NASDAQ:VCYT)

State of Wyoming increased its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 237.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,682 shares of the biotechnology company’s stock after buying an additional 6,813 shares during the period. State of Wyoming’s holdings in Veracyte were worth $383,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its holdings in Veracyte by 49.7% during the 4th 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. US Bancorp DE lifted its holdings in Veracyte by 57.4% during the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock worth $70,000 after purchasing an additional 647 shares in the last quarter. Principal Securities Inc. raised its holdings in shares of 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 acquiring an additional 485 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Veracyte in the 4th quarter valued at about $91,000. Finally, Sterling Capital Management LLC raised its holdings in shares of Veracyte by 810.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,421 shares of the biotechnology company’s stock valued at $96,000 after acquiring an additional 2,155 shares in the last quarter.

Analysts Set New Price Targets

VCYT has been the topic of several recent analyst reports. UBS Group lowered their price target on Veracyte from $49.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Craig Hallum initiated coverage on Veracyte in a report on Thursday, March 20th. They issued a “buy” rating and a $45.00 price target on the stock. Stephens reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Veracyte in a report on Wednesday, March 26th. Needham & Company LLC lowered their price target on Veracyte from $51.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Finally, StockNews.com cut Veracyte from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.90.

Veracyte Trading Down 0.7%

Shares of NASDAQ VCYT opened at $28.81 on Wednesday. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -192.07 and a beta of 2.14. Veracyte, Inc. has a 1-year low of $19.73 and a 1-year high of $47.32. The stock’s 50-day moving average is $30.75 and its 200 day moving average is $36.95.

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