Next Century Growth Investors LLC Acquires 1,525 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Next Century Growth Investors LLC lifted its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 577,684 shares of the biotechnology company’s stock after buying an additional 1,525 shares during the quarter. Veracyte comprises 1.7% of Next Century Growth Investors LLC’s portfolio, making the stock its 12th biggest holding. Next Century Growth Investors LLC owned about 0.75% of Veracyte worth $22,876,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. HighTower Advisors LLC bought a new position in shares of Veracyte in the third quarter worth about $554,000. Ieq Capital LLC acquired a new position in Veracyte during the 4th quarter worth $580,000. Barclays PLC boosted its position in Veracyte by 138.6% in the 3rd quarter. Barclays PLC now owns 146,402 shares of the biotechnology company’s stock valued at $4,983,000 after buying an additional 85,033 shares during the last quarter. Jennison Associates LLC raised its position in shares of Veracyte by 116.3% during the fourth quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company’s stock worth $33,017,000 after acquiring an additional 448,251 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Veracyte by 44.6% during the fourth quarter. KBC Group NV now owns 3,872 shares of the biotechnology company’s stock valued at $153,000 after acquiring an additional 1,195 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on VCYT shares. Craig Hallum started coverage on shares of Veracyte in a research note on Thursday, March 20th. They issued a “buy” rating and a $45.00 target price on the stock. Guggenheim reduced their price objective on shares of Veracyte from $45.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $51.00 target price on shares of Veracyte in a research note on Tuesday, February 25th. UBS Group boosted 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. Finally, Stephens reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Veracyte in a research note on Wednesday, March 26th. 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.60.

Veracyte Stock Up 5.1 %

Shares of VCYT stock opened at $31.80 on Friday. The firm has a market cap of $2.48 billion, a PE ratio of -212.00 and a beta of 2.03. Veracyte, Inc. has a 12 month low of $18.61 and a 12 month high of $47.32. The company’s fifty day simple moving average is $34.26 and its 200-day simple moving average is $37.45.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The company had revenue of $118.63 million during the quarter, compared to the consensus estimate 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 business posted ($0.39) EPS. On average, equities analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

About Veracyte

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.