Artisan Partners Limited Partnership Acquires 1,576,432 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Artisan Partners Limited Partnership increased its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 31.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,599,264 shares of the biotechnology company’s stock after buying an additional 1,576,432 shares during the period. Artisan Partners Limited Partnership owned 8.52% of Veracyte worth $261,331,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Veracyte by 6.0% in the 4th quarter. Vanguard Group Inc. now owns 8,211,612 shares of the biotechnology company’s stock valued at $325,180,000 after buying an additional 463,098 shares during the period. Jennison Associates LLC raised its position in 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 purchasing an additional 448,251 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in Veracyte during the 3rd quarter valued at approximately $9,498,000. Jane Street Group LLC boosted its position in Veracyte by 276.4% during the third quarter. Jane Street Group LLC now owns 301,652 shares of the biotechnology company’s stock valued at $10,268,000 after acquiring an additional 221,504 shares during the last quarter. Finally, Castleark Management LLC acquired a new stake in Veracyte during the third quarter worth approximately $6,010,000.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VCYT. Stephens reaffirmed an “overweight” rating and set a $45.00 price target on shares of Veracyte in a research note on Wednesday. StockNews.com downgraded Veracyte from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and issued a $45.00 price target on shares of Veracyte in a report on Tuesday, February 25th. Needham & Company LLC reiterated a “buy” rating and issued a $51.00 price objective on shares of Veracyte in a research note on Tuesday, February 25th. Finally, Craig Hallum assumed coverage on Veracyte in a research report on Thursday, March 20th. They set a “buy” rating and a $45.00 target price for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.40.

Insiders Place Their Bets

In other Veracyte news, Director Karin Eastham sold 10,000 shares of Veracyte stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total transaction of $403,000.00. Following the completion of the sale, the director now directly owns 18,497 shares in the company, valued at approximately $745,429.10. The trade was a 35.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Veracyte Price Performance

Shares of VCYT opened at $31.05 on Thursday. The company has a 50-day moving average of $37.98 and a 200 day moving average of $37.73. Veracyte, Inc. has a 1-year low of $18.61 and a 1-year high of $47.32. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -207.00 and a beta of 1.80.

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 the consensus estimate 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 business had revenue of $118.63 million for the quarter, compared to analysts’ expectations of $110.73 million. During the same quarter last year, the firm earned ($0.39) EPS. On average, equities analysts anticipate that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal 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.