Principal Financial Group Inc. Buys 12,674 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Principal Financial Group Inc. boosted its stake in Veracyte, Inc. (NASDAQ:VCYTFree Report) by 39.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 44,666 shares of the biotechnology company’s stock after buying an additional 12,674 shares during the period. Principal Financial Group Inc. owned approximately 0.06% of Veracyte worth $997,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. grew its stake in Veracyte by 4.1% in the 2nd quarter. BlackRock Inc. now owns 6,878,522 shares of the biotechnology company’s stock valued at $175,196,000 after buying an additional 273,342 shares during the last quarter. Vanguard Group Inc. grew its stake in Veracyte by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 6,755,991 shares of the biotechnology company’s stock valued at $112,149,000 after buying an additional 52,097 shares during the last quarter. State Street Corp grew its position in shares of Veracyte by 1.5% during the 3rd quarter. State Street Corp now owns 5,223,896 shares of the biotechnology company’s stock worth $86,717,000 after purchasing an additional 79,565 shares in the last quarter. Invesco Ltd. grew its position in shares of Veracyte by 0.4% during the 1st quarter. Invesco Ltd. now owns 4,131,597 shares of the biotechnology company’s stock worth $113,908,000 after purchasing an additional 17,566 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Veracyte by 21.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,798,465 shares of the biotechnology company’s stock worth $71,278,000 after purchasing an additional 502,330 shares in the last quarter.

Veracyte Trading Up 2.3 %

NASDAQ VCYT opened at $25.57 on Friday. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -37.06 and a beta of 1.68. The firm’s 50 day simple moving average is $26.58 and its 200 day simple moving average is $24.97. Veracyte, Inc. has a 1 year low of $19.52 and a 1 year high of $30.52.

Wall Street Analysts Forecast Growth

VCYT has been the topic of a number of analyst reports. William Blair restated an “outperform” rating on shares of Veracyte in a research report on Wednesday, November 8th. Morgan Stanley decreased their target price on shares of Veracyte from $23.00 to $22.00 and set an “underweight” rating on the stock in a research report on Friday, November 10th. Needham & Company LLC decreased their target price on shares of Veracyte from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. Finally, The Goldman Sachs Group decreased their target price on shares of Veracyte from $37.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Veracyte has a consensus rating of “Moderate Buy” and an average price target of $29.50.

Read Our Latest Analysis on VCYT

About Veracyte

(Free Report)

Veracyte, Inc operates as a diagnostics company worldwide. The company offers Afirma Genomic Sequencing Classifier; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis; and Immunoscore Colon Cancer test for colon cancer diagnosis.

Further Reading

Want to see what other hedge funds are holding VCYT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veracyte, Inc. (NASDAQ:VCYTFree Report).

Institutional Ownership by Quarter for Veracyte (NASDAQ:VCYT)

Receive News & Ratings for Veracyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veracyte and related companies with MarketBeat.com's FREE daily email newsletter.