AlphaQuest LLC Has $46,000 Stock Holdings in Veracyte, Inc. (NASDAQ:VCYT)

AlphaQuest LLC reduced its stake in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 88.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,151 shares of the biotechnology company's stock after selling 8,728 shares during the quarter. AlphaQuest LLC's holdings in Veracyte were worth $46,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of VCYT. HighTower Advisors LLC bought a new position in shares of Veracyte during the 3rd quarter worth approximately $554,000. Eventide Asset Management LLC raised its position in Veracyte by 20.2% during the third quarter. Eventide Asset Management LLC now owns 677,883 shares of the biotechnology company's stock worth $23,075,000 after acquiring an additional 113,883 shares in the last quarter. Erste Asset Management GmbH bought a new stake in shares of Veracyte in the 3rd quarter valued at about $574,000. Neo Ivy Capital Management acquired a new stake in Veracyte in the 3rd quarter valued at about $820,000. Finally, Intech Investment Management LLC bought a new position in Veracyte during the third quarter worth about $723,000.

Wall Street Analysts Forecast Growth

VCYT has been the topic of several research analyst reports. Needham & Company LLC restated a "buy" rating and issued a $51.00 price objective on shares of Veracyte in a research note on Tuesday, February 25th. Guggenheim restated a "buy" rating and issued a $45.00 price target on shares of Veracyte in a research note on Tuesday, February 25th. UBS Group lifted their price objective on shares of Veracyte from $46.00 to $49.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. StockNews.com lowered shares of Veracyte from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, Craig Hallum started coverage on shares of Veracyte in a research report on Thursday. They set a "buy" rating and a $45.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $43.22.

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Veracyte Stock Performance

Shares of VCYT traded up $1.34 during mid-day trading on Monday, reaching $33.16. The company had a trading volume of 622,517 shares, compared to its average volume of 808,906. The company's 50 day simple moving average is $38.53 and its 200 day simple moving average is $37.72. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of -221.07 and a beta of 1.80. Veracyte, Inc. has a 1-year low of $18.61 and a 1-year high of $47.32.

Veracyte (NASDAQ:VCYT - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 earned ($0.39) earnings per share. As a group, equities analysts forecast that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Karin Eastham sold 10,000 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total value of $403,000.00. Following the sale, the director now owns 18,497 shares of the company's stock, valued at $745,429.10. The trade was a 35.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.30% of the company's stock.

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.