Casdin Capital LLC Decreases Stock Holdings in Veracyte, Inc. (NASDAQ:VCYT)

Casdin Capital LLC lowered its stake in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 58.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 276,308 shares of the biotechnology company's stock after selling 390,000 shares during the quarter. Veracyte accounts for 0.7% of Casdin Capital LLC's portfolio, making the stock its 21st largest position. Casdin Capital LLC owned about 0.36% of Veracyte worth $10,942,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Jones Financial Companies Lllp increased its position in Veracyte by 49.7% during the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 237 shares during the last quarter. US Bancorp DE raised its position in Veracyte by 57.4% in the fourth quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company's stock worth $70,000 after acquiring an additional 647 shares during the period. Principal Securities Inc. boosted its stake in shares of Veracyte by 34.1% during the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company's stock worth $76,000 after acquiring an additional 485 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Veracyte during the 4th quarter valued at $91,000. Finally, Sterling Capital Management LLC increased its stake in shares of Veracyte by 810.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,421 shares of the biotechnology company's stock worth $96,000 after purchasing an additional 2,155 shares in the last quarter.

Veracyte Stock Performance

NASDAQ VCYT opened at $31.32 on Tuesday. The stock has a 50 day moving average price of $31.33 and a 200-day moving average price of $37.21. Veracyte, Inc. has a one year low of $19.73 and a one year high of $47.32. The company has a market capitalization of $2.45 billion, a P/E ratio of -208.80 and a beta of 2.14.

Veracyte (NASDAQ:VCYT - Get Free Report) last posted its earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $118.63 million for the quarter, compared to the consensus estimate of $110.73 million. During the same period in the previous year, the firm posted ($0.39) EPS. As a group, equities analysts predict that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on VCYT shares. StockNews.com cut Veracyte from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Craig Hallum started coverage on shares of Veracyte in a report on Thursday, March 20th. They set a "buy" rating and a $45.00 price target on the stock. Guggenheim reduced their price objective on shares of Veracyte from $45.00 to $37.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Needham & Company LLC restated a "buy" rating and set a $51.00 target price on shares of Veracyte in a research note on Tuesday, February 25th. Finally, Stephens reissued an "overweight" rating and set a $45.00 price target on shares of Veracyte in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Veracyte currently has a consensus rating of "Moderate Buy" and an average target price of $42.60.

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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