Arrowstreet Capital Limited Partnership Buys 363,862 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Arrowstreet Capital Limited Partnership boosted its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 134.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 635,110 shares of the biotechnology company’s stock after acquiring an additional 363,862 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Veracyte were worth $25,150,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in VCYT. Artisan Partners Limited Partnership lifted its position in shares of Veracyte by 31.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 6,599,264 shares of the biotechnology company’s stock worth $261,331,000 after purchasing an additional 1,576,432 shares in the last quarter. Vanguard Group Inc. lifted its position in Veracyte by 6.0% during the 4th quarter. Vanguard Group Inc. now owns 8,211,612 shares of the biotechnology company’s stock worth $325,180,000 after buying an additional 463,098 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Veracyte by 116.3% during the 4th quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company’s stock worth $33,017,000 after buying an additional 448,251 shares during the last quarter. Loomis Sayles & Co. L P bought a new position in shares of Veracyte in the 4th quarter valued at about $16,224,000. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Veracyte in the third quarter valued at about $9,498,000.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on VCYT shares. StockNews.com cut Veracyte from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Guggenheim reissued a “buy” rating and issued a $45.00 price objective on shares of Veracyte in a report on Tuesday, February 25th. Needham & Company LLC restated a “buy” rating and set a $51.00 target price on shares of Veracyte in a report on Tuesday, February 25th. UBS Group increased their price target 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 restated an “overweight” rating and set a $45.00 price objective on shares of Veracyte in a research note on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.40.

Veracyte Trading Down 5.5 %

Shares of NASDAQ VCYT opened at $28.47 on Friday. The business’s 50 day moving average is $36.50 and its 200-day moving average is $37.65. The firm has a market cap of $2.22 billion, a P/E ratio of -189.80 and a beta of 2.03. Veracyte, Inc. has a 1-year low of $18.61 and a 1-year high of $47.32.

Veracyte (NASDAQ:VCYT) last announced its earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating 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 company had revenue of $118.63 million during the quarter, compared to analysts’ expectations of $110.73 million. During the same quarter in the previous year, the business posted ($0.39) earnings per share. Analysts forecast that Veracyte, Inc. will post 0.68 EPS for the current year.

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.