KLP Kapitalforvaltning AS Makes New Investment in Veracyte, Inc. (NASDAQ:VCYT)

KLP Kapitalforvaltning AS acquired a new stake in Veracyte, Inc. (NASDAQ:VCYT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,400 shares of the biotechnology company’s stock, valued at approximately $610,000.

A number of other large investors have also made changes to their positions in VCYT. HighTower Advisors LLC purchased a new position in Veracyte in the 3rd quarter valued at about $554,000. Erste Asset Management GmbH purchased a new position in shares of Veracyte during the third quarter valued at approximately $574,000. Neo Ivy Capital Management acquired a new stake in Veracyte during the third quarter worth approximately $820,000. Cerity Partners LLC purchased a new stake in Veracyte in the 3rd quarter worth approximately $431,000. Finally, Zacks Investment Management acquired a new position in Veracyte in the 3rd quarter valued at $1,123,000.

Wall Street Analysts Forecast Growth

VCYT has been the subject of a number of recent analyst reports. UBS Group lifted their price objective on Veracyte from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Guggenheim restated a “buy” rating and issued a $45.00 price target on shares of Veracyte in a report on Tuesday, February 25th. Craig Hallum started coverage on shares of Veracyte in a report on Thursday, March 20th. They set a “buy” rating and a $45.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $51.00 target price on shares of Veracyte in a report on Tuesday, February 25th. Finally, Stephens reaffirmed an “overweight” rating and set a $45.00 price target on shares of Veracyte in a research report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Veracyte currently has a consensus rating of “Moderate Buy” and an average price target of $43.40.

Veracyte Trading Up 1.9 %

Shares of NASDAQ VCYT opened at $30.13 on Thursday. The stock has a fifty day moving average price of $36.81 and a 200 day moving average price of $37.72. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $47.32. The company has a market cap of $2.35 billion, a P/E ratio of -200.87 and a beta of 1.80.

Veracyte (NASDAQ:VCYT) last posted 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. The business had revenue of $118.63 million during the quarter, compared to analyst estimates 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 quarter last year, the firm earned ($0.39) earnings per share. On average, sell-side analysts forecast that Veracyte, Inc. will post 0.68 EPS 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.