Trexquant Investment LP Has $5.59 Million Position in Veracyte, Inc. $VCYT

Key Points

• Trexquant Investment LP has reduced its stake in Veracyte, Inc. by 5.4%, selling 10,790 shares and now owning 188,493 shares valued at $5,589,000.
• Several other hedge funds have made significant changes to their positions in Veracyte, with Hsbc Holdings PLC increasing its holdings by 95.8% during the same period.
• Veracyte's stock has a current price of $30.34, with analysts generally rating it as a "Moderate Buy" and an average target price of $40.90.

Trexquant Investment LP trimmed its stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 5.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 188,493 shares of the biotechnology company's stock after selling 10,790 shares during the quarter. Trexquant Investment LP owned about 0.24% of Veracyte worth $5,589,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Xponance Inc. boosted its position in shares of Veracyte by 5.7% in the first quarter. Xponance Inc. now owns 6,860 shares of the biotechnology company's stock valued at $203,000 after acquiring an additional 370 shares during the period. Blair William & Co. IL boosted its position in shares of Veracyte by 3.5% in the first quarter. Blair William & Co. IL now owns 16,092 shares of the biotechnology company's stock valued at $477,000 after acquiring an additional 550 shares during the period. Sherbrooke Park Advisers LLC boosted its position in shares of 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% in the first quarter. Versant Capital Management Inc now owns 930 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 862 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in shares of Veracyte by 1.1% in the first quarter. Allianz Asset Management GmbH now owns 79,310 shares of the biotechnology company's stock valued at $2,352,000 after acquiring an additional 900 shares during the period.

Veracyte Trading Up 2.9%

NASDAQ VCYT traded up $0.90 during trading on Thursday, hitting $31.52. 1,169,980 shares of the company's stock were exchanged, compared to its average volume of 1,154,233. The company has a market cap of $2.48 billion, a PE ratio of 95.52 and a beta of 2.07. Veracyte, Inc. has a fifty-two week low of $22.61 and a fifty-two week high of $47.32. The stock's 50 day moving average price is $27.10 and its two-hundred day moving average price is $29.40.

Analyst Ratings Changes

Several equities research analysts recently weighed in on VCYT shares. Morgan Stanley set a $28.00 price objective on shares of Veracyte and gave the stock an "underweight" rating in a research report on Friday, August 8th. UBS Group cut their price objective on shares of Veracyte from $49.00 to $42.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Needham & Company LLC cut their price objective on shares of 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 investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Veracyte presently has a consensus rating of "Moderate Buy" and an average price target of $40.90.

About Veracyte

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.