Veracyte, Inc. $VCYT Shares Acquired by Advantage Alpha Capital Partners LP

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

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Xponance Inc. raised its position in Veracyte by 5.7% during the 1st quarter. Xponance Inc. now owns 6,860 shares of the biotechnology company's stock worth $203,000 after buying an additional 370 shares during the last quarter. Blair William & Co. IL raised its position in Veracyte by 3.5% in the first quarter. Blair William & Co. IL now owns 16,092 shares of the biotechnology company's stock worth $477,000 after acquiring an additional 550 shares in the last quarter. Sherbrooke Park Advisers LLC lifted its holdings in Veracyte by 7.0% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 9,493 shares of the biotechnology company's stock valued at $376,000 after acquiring an additional 618 shares during the period. Versant Capital Management Inc boosted its position in shares of Veracyte by 1,267.6% during the 1st quarter. Versant Capital Management Inc now owns 930 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 862 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of Veracyte by 1.1% during the 1st quarter. Allianz Asset Management GmbH now owns 79,310 shares of the biotechnology company's stock worth $2,352,000 after purchasing an additional 900 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on VCYT shares. UBS Group decreased their price objective on shares of Veracyte from $49.00 to $42.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Morgan Stanley set a $28.00 target price on Veracyte and gave the stock an "underweight" rating in a research report on Friday, August 8th. Needham & Company LLC dropped their price target on Veracyte from $51.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Finally, Wall Street Zen raised Veracyte from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $40.90.

Veracyte Stock Down 1.9%

Shares of NASDAQ:VCYT traded down $0.57 during midday trading on Wednesday, reaching $28.51. The company's stock had a trading volume of 454,194 shares, compared to its average volume of 1,155,068. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 86.38 and a beta of 1.97. The business has a 50 day moving average price of $26.70 and a 200 day moving average price of $29.77. Veracyte, Inc. has a 1 year low of $22.61 and a 1 year high of $47.32.

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.