Algert Global LLC Has $10.37 Million Stock Position in Veracyte, Inc. (NASDAQ:VCYT)

Algert Global LLC increased its stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 29.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 261,819 shares of the biotechnology company's stock after purchasing an additional 60,122 shares during the period. Algert Global LLC owned approximately 0.34% of Veracyte worth $10,368,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Artisan Partners Limited Partnership raised its stake in Veracyte by 31.4% during the 4th quarter. Artisan Partners Limited Partnership now owns 6,599,264 shares of the biotechnology company's stock worth $261,331,000 after buying an additional 1,576,432 shares during the period. Marshall Wace LLP raised its position in shares of Veracyte by 768.9% during the fourth quarter. Marshall Wace LLP now owns 956,577 shares of the biotechnology company's stock worth $37,880,000 after purchasing an additional 846,487 shares during the period. Vanguard Group Inc. raised its position in shares of Veracyte by 6.0% during the fourth quarter. Vanguard Group Inc. now owns 8,211,612 shares of the biotechnology company's stock worth $325,180,000 after purchasing an additional 463,098 shares during the period. Jennison Associates LLC lifted its holdings in shares of Veracyte by 116.3% during the 4th quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company's stock valued at $33,017,000 after purchasing an additional 448,251 shares in the last quarter. Finally, Loomis Sayles & Co. L P bought a new stake in Veracyte during the 4th quarter worth approximately $16,224,000.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Craig Hallum initiated coverage on shares of Veracyte in a research note on Thursday, March 20th. They issued a "buy" rating and a $45.00 price target on the stock. Stephens reiterated an "overweight" rating and set a $45.00 target price on shares of Veracyte in a report on Wednesday, March 26th. Needham & Company LLC reissued a "buy" rating and issued a $51.00 price target on shares of Veracyte in a research note on Tuesday, February 25th. UBS Group increased their price objective on Veracyte from $46.00 to $49.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Finally, StockNews.com cut Veracyte from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $42.60.

Veracyte Trading Up 2.2 %

Shares of VCYT opened at $30.35 on Friday. The company's fifty day simple moving average is $31.42 and its 200 day simple moving average is $37.22. Veracyte, Inc. has a 1-year low of $19.73 and a 1-year high of $47.32. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -202.33 and a beta of 2.14.

Veracyte (NASDAQ:VCYT - Get Free Report) last issued its 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 period last year, the business posted ($0.39) EPS. As a group, research analysts forecast that Veracyte, Inc. will post 0.68 earnings per share for the current year.

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.

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