Dynamic Technology Lab Private Ltd Makes New Investment in Veracyte, Inc. (NASDAQ:VCYT)

Dynamic Technology Lab Private Ltd acquired a new position in Veracyte, Inc. (NASDAQ:VCYT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,700 shares of the biotechnology company's stock, valued at approximately $424,000.

Several other large investors also recently added to or reduced their stakes in the business. HighTower Advisors LLC purchased a new position in shares of Veracyte during the 3rd quarter worth $554,000. Neo Ivy Capital Management purchased a new position in Veracyte during the third quarter valued at $820,000. Zacks Investment Management bought a new stake in Veracyte during the third quarter valued at about $1,123,000. Ieq Capital LLC purchased a new stake in Veracyte in the fourth quarter worth about $580,000. Finally, Barclays PLC raised its stake in shares of Veracyte by 138.6% in the third quarter. Barclays PLC now owns 146,402 shares of the biotechnology company's stock worth $4,983,000 after buying an additional 85,033 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Stephens restated an "overweight" rating and set a $45.00 target price on shares of Veracyte in a research note on Wednesday, March 26th. StockNews.com downgraded shares of Veracyte from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Guggenheim dropped their target price on shares of Veracyte from $45.00 to $37.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Craig Hallum started coverage on Veracyte in a report on Thursday, March 20th. They set a "buy" rating and a $45.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $51.00 price objective on shares of Veracyte in a research note on Tuesday, February 25th. One research 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $42.60.

Veracyte Price Performance

Shares of NASDAQ:VCYT traded up $0.33 during trading on Monday, hitting $32.13. The company had a trading volume of 134,822 shares, compared to its average volume of 858,469. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of -214.20 and a beta of 2.03. The company has a fifty day simple moving average of $34.26 and a two-hundred day simple moving average of $37.48. Veracyte, Inc. has a one year low of $18.61 and a one year high of $47.32.

Veracyte (NASDAQ:VCYT - Get Free Report) last posted 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. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The business had revenue of $118.63 million for the quarter, compared to analysts' expectations of $110.73 million. During the same quarter in the previous year, the business posted ($0.39) earnings per share. On average, equities research analysts anticipate that Veracyte, Inc. will post 0.68 earnings per share for the current year.

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.