PDT Partners LLC Increases Holdings in Veracyte, Inc. (NASDAQ:VCYT)

PDT Partners LLC grew its position in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 38.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,632 shares of the biotechnology company's stock after acquiring an additional 26,657 shares during the quarter. PDT Partners LLC owned about 0.12% of Veracyte worth $3,827,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on VCYT. UBS Group raised their price target on Veracyte from $46.00 to $49.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Needham & Company LLC reaffirmed a "buy" rating and set a $51.00 price target on shares of Veracyte in a report on Tuesday, February 25th. Guggenheim dropped their target price on Veracyte from $45.00 to $37.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. StockNews.com cut shares of Veracyte from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Finally, Stephens reaffirmed an "overweight" rating and issued a $45.00 price objective on shares of Veracyte in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Veracyte presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.60.

Veracyte Trading Up 2.2 %

Shares of NASDAQ VCYT traded up $0.64 during midday trading on Friday, reaching $30.35. 1,748,178 shares of the stock were exchanged, compared to its average volume of 871,750. The company has a market capitalization of $2.37 billion, a P/E ratio of -202.33 and a beta of 2.03. The stock has a 50 day moving average price of $31.48 and a 200-day moving average price of $37.22. Veracyte, Inc. has a 52-week low of $19.73 and a 52-week high of $47.32.

Veracyte (NASDAQ:VCYT - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.07. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The firm had revenue of $118.63 million for the quarter, compared to analyst estimates of $110.73 million. During the same period last year, the company earned ($0.39) EPS. On average, analysts forecast that Veracyte, Inc. will post 0.68 earnings per share for the current year.

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.