PDT Partners LLC Has $2.05 Million Holdings in Veracyte, Inc. $VCYT

Key Points

• PDT Partners LLC has reduced its stake in Veracyte, Inc. by 28.5%, selling 27,566 shares during the first quarter, now holding 69,066 shares worth approximately $2,048,000.
• Veracyte's stock received mixed ratings from analysts, with Wall Street Zen upgrading it to a "buy" rating while Morgan Stanley set a price objective of $28.00 with an "underweight" rating.
• The company's shares have fluctuated between a 1-year low of $22.61 and a high of $47.32, currently trading at around $30.11 with a market cap of $2.37 billion.

PDT Partners LLC decreased its position in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 28.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,066 shares of the biotechnology company's stock after selling 27,566 shares during the period. PDT Partners LLC owned about 0.09% of Veracyte worth $2,048,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings in shares of Veracyte by 1,267.6% in the 1st quarter. Versant Capital Management Inc now owns 930 shares of the biotechnology company's stock worth $28,000 after buying an additional 862 shares in the last quarter. Headlands Technologies LLC bought a new stake in Veracyte during the 1st quarter worth approximately $48,000. GF Fund Management CO. LTD. bought a new stake in Veracyte during the 4th quarter worth approximately $64,000. Covestor Ltd grew its position in Veracyte by 23,936.4% during the 1st quarter. Covestor Ltd now owns 2,644 shares of the biotechnology company's stock worth $78,000 after acquiring an additional 2,633 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Veracyte during the 1st quarter worth approximately $173,000.

Veracyte Trading Up 2.9%

Shares of NASDAQ:VCYT traded up $0.91 during midday trading on Friday, hitting $32.43. The company had a trading volume of 1,569,580 shares, compared to its average volume of 1,134,717. Veracyte, Inc. has a 12 month low of $22.61 and a 12 month high of $47.32. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 98.28 and a beta of 2.07. The firm has a fifty day simple moving average of $27.29 and a 200 day simple moving average of $29.28.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Morgan Stanley set a $28.00 price objective on Veracyte and gave the company an "underweight" rating in a research report on Friday, August 8th. Needham & Company LLC decreased their price objective on Veracyte from $51.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Wall Street Zen upgraded Veracyte from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, UBS Group decreased their price objective on Veracyte from $49.00 to $42.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Veracyte currently has a consensus rating of "Moderate Buy" and an average target price 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.