Bryce Point Capital LLC Takes $1.02 Million Position in Veracyte, Inc. (NASDAQ:VCYT)

Bryce Point Capital LLC acquired a new stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 25,775 shares of the biotechnology company's stock, valued at approximately $1,021,000.

A number of other institutional investors have also recently bought and sold shares of VCYT. HighTower Advisors LLC bought a new position in shares of Veracyte during the third quarter worth $554,000. Erste Asset Management GmbH acquired a new stake in Veracyte during the 3rd quarter worth $574,000. Neo Ivy Capital Management bought a new position in Veracyte during the third quarter worth about $820,000. Cerity Partners LLC acquired a new position in Veracyte in the third quarter valued at about $431,000. Finally, Zacks Investment Management bought a new stake in shares of Veracyte in the third quarter worth about $1,123,000.

Veracyte Trading Up 2.5 %

Shares of Veracyte stock traded up $0.75 during trading hours on Tuesday, reaching $30.28. 314,633 shares of the company's stock were exchanged, compared to its average volume of 843,444. The company has a 50 day moving average of $35.93 and a two-hundred day moving average of $37.63. The stock has a market cap of $2.36 billion, a P/E ratio of -202.53 and a beta of 2.03. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $47.32.

Veracyte (NASDAQ:VCYT - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The biotechnology company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.29 by $0.07. The firm had revenue of $118.63 million during 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 in the prior year, the firm posted ($0.39) earnings per share. As a group, analysts expect that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on VCYT shares. StockNews.com lowered Veracyte from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Guggenheim reiterated a "buy" rating and issued a $45.00 price target on shares of Veracyte in a report on Tuesday, February 25th. Craig Hallum assumed 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. UBS Group boosted their price objective on shares of Veracyte from $46.00 to $49.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Finally, Stephens reiterated an "overweight" rating and set a $45.00 target price on shares of Veracyte in a 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 stock. Based on data from MarketBeat, Veracyte has a consensus rating of "Moderate Buy" and an average price target of $43.40.

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.