Bayesian Capital Management LP Takes Position in Veracyte, Inc. (NASDAQ:VCYT)

Bayesian Capital Management LP bought a new position in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 17,500 shares of the biotechnology company's stock, valued at approximately $693,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Barclays PLC grew its position in shares of Veracyte by 138.6% in the third quarter. Barclays PLC now owns 146,402 shares of the biotechnology company's stock valued at $4,983,000 after purchasing an additional 85,033 shares during the last quarter. Synovus Financial Corp raised its stake in Veracyte by 16.2% in the 3rd quarter. Synovus Financial Corp now owns 22,865 shares of the biotechnology company's stock worth $778,000 after purchasing an additional 3,195 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Veracyte by 4.4% in the fourth quarter. Nordea Investment Management AB now owns 261,214 shares of the biotechnology company's stock valued at $10,415,000 after buying an additional 11,078 shares in the last quarter. Avanza Fonder AB bought a new stake in shares of Veracyte in the fourth quarter valued at approximately $1,379,000. Finally, Legal Advantage Investments Inc. acquired a new stake in Veracyte during the fourth quarter worth approximately $250,000.

Veracyte Stock Performance

NASDAQ VCYT opened at $31.32 on Tuesday. The firm's fifty day moving average price is $31.33 and its two-hundred day moving average price is $37.21. The stock has a market cap of $2.45 billion, a PE ratio of -208.80 and a beta of 2.14. Veracyte, Inc. has a fifty-two week low of $19.73 and a fifty-two week high of $47.32.

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, topping analysts' consensus estimates 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 business had revenue of $118.63 million during the quarter, compared to analysts' expectations of $110.73 million. During the same quarter in the prior year, the firm earned ($0.39) EPS. As a group, sell-side analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

VCYT has been the subject of several analyst reports. UBS Group upped their target price on Veracyte from $46.00 to $49.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Craig Hallum began coverage on Veracyte in a research note on Thursday, March 20th. They issued a "buy" rating and a $45.00 price target for the company. Stephens reiterated an "overweight" rating and set a $45.00 price objective on shares of Veracyte in a research note on Wednesday, March 26th. Needham & Company LLC reissued a "buy" rating and issued a $51.00 target price on shares of Veracyte in a report on Tuesday, February 25th. Finally, StockNews.com downgraded shares of Veracyte from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. One 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 MarketBeat, Veracyte presently has an average rating of "Moderate Buy" and a consensus target price of $42.60.

Veracyte Company 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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