Advantage Alpha Capital Partners LP reduced its stake in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 31.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,129 shares of the biotechnology company's stock after selling 7,937 shares during the period. Advantage Alpha Capital Partners LP's holdings in Veracyte were worth $678,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Veracyte by 6.0% in the 4th quarter. Vanguard Group Inc. now owns 8,211,612 shares of the biotechnology company's stock worth $325,180,000 after buying an additional 463,098 shares in the last quarter. State Street Corp lifted its stake in Veracyte by 0.3% during the third quarter. State Street Corp now owns 2,916,515 shares of the biotechnology company's stock valued at $99,278,000 after buying an additional 7,920 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Veracyte by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,844,713 shares of the biotechnology company's stock worth $62,806,000 after acquiring an additional 17,921 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Veracyte by 116.3% during the fourth quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company's stock valued at $33,017,000 after acquiring an additional 448,251 shares during the period. Finally, New York State Common Retirement Fund lifted its position in shares of Veracyte by 0.4% in the 4th quarter. New York State Common Retirement Fund now owns 785,971 shares of the biotechnology company's stock valued at $31,124,000 after acquiring an additional 3,111 shares in the last quarter.
Wall Street Analyst Weigh In
Several research firms have weighed in on VCYT. Stephens reiterated an "overweight" rating and set a $45.00 price objective on shares of Veracyte in a research report on Wednesday. Needham & Company LLC reiterated a "buy" rating and set a $51.00 price target on shares of Veracyte in a report on Tuesday, February 25th. Guggenheim restated a "buy" rating and issued a $45.00 price objective on shares of Veracyte in a research note on Tuesday, February 25th. UBS Group raised their target price on shares of Veracyte from $46.00 to $49.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Finally, StockNews.com cut Veracyte from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Veracyte currently has an average rating of "Moderate Buy" and a consensus price target of $43.40.
Check Out Our Latest Stock Analysis on VCYT
Insider Activity at Veracyte
In other news, Director Karin Eastham sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total transaction of $403,000.00. Following the completion of the sale, the director now owns 18,497 shares of the company's stock, valued at approximately $745,429.10. This trade represents a 35.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by insiders.
Veracyte Price Performance
Shares of VCYT traded down $0.98 during mid-day trading on Friday, reaching $30.12. The company had a trading volume of 710,014 shares, compared to its average volume of 835,914. The company has a market capitalization of $2.35 billion, a P/E ratio of -200.80 and a beta of 1.80. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $47.32. The company's 50-day moving average is $37.57 and its 200-day moving average is $37.69.
Veracyte (NASDAQ:VCYT - Get Free Report) last released its quarterly earnings data 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. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The firm had revenue of $118.63 million during the quarter, compared to analyst estimates of $110.73 million. During the same period in the prior year, the company posted ($0.39) earnings per share. As a group, equities analysts expect that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.
Veracyte Company Profile
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Free Report)
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.
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