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

Next Century Growth Investors LLC grew its position in Veracyte, Inc. (NASDAQ:VCYT) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 577,684 shares of the biotechnology company’s stock after purchasing an additional 1,525 shares during the quarter. Veracyte comprises approximately 1.7% of Next Century Growth Investors LLC’s investment portfolio, making the stock its 12th biggest position. Next Century Growth Investors LLC’s holdings in Veracyte were worth $22,876,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in VCYT. Jones Financial Companies Lllp raised its holdings in Veracyte by 49.7% in the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 237 shares in the last quarter. US Bancorp DE increased its stake in shares of Veracyte by 57.4% in the fourth quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock valued at $70,000 after buying an additional 647 shares during the period. Principal Securities Inc. lifted its holdings in Veracyte by 34.1% during the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock worth $76,000 after buying an additional 485 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of Veracyte in the 4th quarter valued at $91,000. Finally, Sterling Capital Management LLC grew its stake in Veracyte by 810.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,421 shares of the biotechnology company’s stock worth $96,000 after purchasing an additional 2,155 shares during the period.

Analyst Ratings Changes

Several research analysts have weighed in on VCYT shares. Needham & Company LLC restated a “buy” rating and set a $51.00 price objective on shares of Veracyte in a report on Tuesday, February 25th. Guggenheim reduced their target price on shares of Veracyte from $45.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday. UBS Group boosted their price objective on Veracyte from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Stephens reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Veracyte in a report on Wednesday, March 26th. Finally, Craig Hallum started coverage on shares of Veracyte in a research report on Thursday, March 20th. They issued a “buy” rating and a $45.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Veracyte currently has a consensus rating of “Moderate Buy” and an average price target of $42.60.

Veracyte Stock Performance

Shares of NASDAQ:VCYT opened at $31.80 on Friday. The firm has a fifty day moving average of $34.26 and a 200 day moving average of $37.45. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $47.32. The firm has a market capitalization of $2.48 billion, a PE ratio of -212.00 and a beta of 2.03.

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, sell-side 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.