Captrust Financial Advisors Makes New Investment in Veracyte, Inc. (NASDAQ:VCYT)

Captrust Financial Advisors purchased a new position in shares of Veracyte, Inc. (NASDAQ:VCYT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 5,208 shares of the biotechnology company’s stock, valued at approximately $206,000.

Several other hedge funds have also recently added to or reduced their stakes in VCYT. Bayesian Capital Management LP acquired a new stake in shares of Veracyte during the 4th quarter worth approximately $693,000. Algert Global LLC grew its position in shares of Veracyte by 29.8% during the 4th quarter. Algert Global LLC now owns 261,819 shares of the biotechnology company’s stock worth $10,368,000 after buying an additional 60,122 shares during the period. ArrowMark Colorado Holdings LLC grew its position in shares of Veracyte by 3.3% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 3,080,027 shares of the biotechnology company’s stock worth $121,969,000 after buying an additional 97,824 shares during the period. PDT Partners LLC grew its position in shares of Veracyte by 38.1% during the 4th quarter. PDT Partners LLC now owns 96,632 shares of the biotechnology company’s stock worth $3,827,000 after buying an additional 26,657 shares during the period. Finally, Schonfeld Strategic Advisors LLC grew its position in shares of Veracyte by 200.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 46,820 shares of the biotechnology company’s stock worth $1,854,000 after buying an additional 31,221 shares during the period.

Veracyte Trading Down 0.8%

NASDAQ VCYT opened at $27.40 on Friday. The company has a fifty day simple moving average of $30.57 and a 200 day simple moving average of $36.77. Veracyte, Inc. has a 12-month low of $19.73 and a 12-month high of $47.32. The company has a market cap of $2.15 billion, a P/E ratio of -182.67 and a beta of 2.14.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $110.73 million. During the same quarter last year, the firm posted ($0.39) EPS. Sell-side analysts predict that Veracyte, Inc. will post 0.68 EPS for the current year.

Analyst Ratings Changes

VCYT has been the subject of several recent analyst reports. UBS Group reduced their price objective on shares of Veracyte from $49.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Craig Hallum initiated coverage on shares of Veracyte in a research report on Thursday, March 20th. They set a “buy” rating and a $45.00 price objective for the company. Wall Street Zen downgraded shares of Veracyte from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Needham & Company LLC reduced their price objective on shares of Veracyte from $51.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Finally, Guggenheim reduced their price target on shares of Veracyte from $45.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.90.

Veracyte Profile

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.