Globeflex Capital L P Takes Position in Veracyte, Inc. (NASDAQ:VCYT)

Globeflex Capital L P acquired a new stake in Veracyte, Inc. (NASDAQ:VCYT – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,400 shares of the biotechnology company’s stock, valued at approximately $152,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp raised its holdings in shares of Veracyte by 45.5% during the 1st quarter. State Street Corp now owns 3,945,870 shares of the biotechnology company’s stock valued at $108,788,000 after buying an additional 1,234,244 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Veracyte by 1,717.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 807,066 shares of the biotechnology company’s stock valued at $13,397,000 after buying an additional 762,651 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Veracyte by 121.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,049,845 shares of the biotechnology company’s stock valued at $20,892,000 after buying an additional 575,949 shares during the period. Candriam Luxembourg S.C.A. purchased a new stake in shares of Veracyte during the 1st quarter valued at about $10,440,000. Finally, Fisher Asset Management LLC raised its holdings in shares of Veracyte by 20.0% during the 4th quarter. Fisher Asset Management LLC now owns 2,085,604 shares of the biotechnology company’s stock valued at $49,491,000 after buying an additional 348,096 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on VCYT shares. StockNews.com started coverage on Veracyte in a report on Thursday, May 18th. They set a “hold” rating on the stock. Needham & Company LLC lifted their price objective on Veracyte from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, February 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $30.20.

Veracyte Price Performance

Shares of VCYT stock traded up $0.11 on Friday, hitting $25.60. 48,082 shares of the stock traded hands, compared to its average volume of 695,565. The company has a market capitalization of $1.85 billion, a PE ratio of -62.17 and a beta of 1.40. Veracyte, Inc. has a 1-year low of $14.92 and a 1-year high of $32.40. The company’s fifty day moving average is $22.77 and its 200 day moving average is $24.58.

Veracyte (NASDAQ:VCYT – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.03. The business had revenue of $82.40 million for the quarter, compared to analyst estimates of $75.75 million. Veracyte had a negative return on equity of 2.83% and a negative net margin of 9.70%. The business’s revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.20) EPS. As a group, equities research analysts expect that Veracyte, Inc. will post -0.55 EPS for the current year.

Insider Activity at Veracyte

In related news, Director Bonnie H. Anderson sold 34,000 shares of the company’s stock in a transaction on Friday, April 14th. The stock was sold at an average price of $22.04, for a total transaction of $749,360.00. Following the completion of the transaction, the director now directly owns 42,681 shares in the company, valued at approximately $940,689.24. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.90% of the company’s stock.

Veracyte Company Profile

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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.