Advantage Alpha Capital Partners LP Has $779,000 Stake in Veracyte, Inc. $VCYT

Key Points

• Advantage Alpha Capital Partners LP increased its stake in Veracyte, Inc. by 53.4%, owning 26,284 shares valued at $779,000 after acquiring an additional 9,155 shares in the first quarter.
• Veracyte's stock has seen market fluctuations, currently priced at $29.43, with a 52-week range of $22.61 to $47.32.
• Equities analysts generally view Veracyte positively, with an average rating of "Moderate Buy" and a price target of $40.90.

Advantage Alpha Capital Partners LP raised its position in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 53.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,284 shares of the biotechnology company's stock after acquiring an additional 9,155 shares during the quarter. Advantage Alpha Capital Partners LP's holdings in Veracyte were worth $779,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Veracyte by 0.6% in the first quarter. Vanguard Group Inc. now owns 8,263,643 shares of the biotechnology company's stock valued at $245,017,000 after acquiring an additional 52,031 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in Veracyte by 3.3% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 3,080,027 shares of the biotechnology company's stock valued at $121,969,000 after acquiring an additional 97,824 shares during the last quarter. GW&K Investment Management LLC lifted its stake in Veracyte by 3.7% in the first quarter. GW&K Investment Management LLC now owns 1,256,893 shares of the biotechnology company's stock valued at $37,267,000 after acquiring an additional 44,826 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Veracyte by 0.7% in the fourth quarter. Nuveen Asset Management LLC now owns 1,194,392 shares of the biotechnology company's stock valued at $47,298,000 after acquiring an additional 8,797 shares during the last quarter. Finally, Driehaus Capital Management LLC lifted its stake in Veracyte by 226.8% in the fourth quarter. Driehaus Capital Management LLC now owns 1,183,766 shares of the biotechnology company's stock valued at $46,877,000 after acquiring an additional 821,554 shares during the last quarter.

Veracyte Stock Performance

NASDAQ:VCYT opened at $29.43 on Friday. Veracyte, Inc. has a 52 week low of $22.61 and a 52 week high of $47.32. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 89.18 and a beta of 1.97. The firm's 50-day simple moving average is $26.51 and its 200 day simple moving average is $30.15.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. UBS Group dropped their price objective on shares of Veracyte from $49.00 to $42.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Morgan Stanley set a $28.00 price objective on shares of Veracyte and gave the company an "underweight" rating in a research report on Friday, August 8th. Needham & Company LLC dropped their price objective on shares of Veracyte from $51.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, Wall Street Zen raised shares of Veracyte from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Veracyte currently has an average rating of "Moderate Buy" and an average price target 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.

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