Advantage Alpha Capital Partners LP Reduces Position in Veracyte, Inc. (NASDAQ:VCYT)

Advantage Alpha Capital Partners LP trimmed its position in Veracyte, Inc. (NASDAQ:VCYT) by 31.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,129 shares of the biotechnology company’s stock after selling 7,937 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in Veracyte were worth $678,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Caprock Group LLC acquired a new stake in Veracyte in the third quarter valued at $252,000. Intech Investment Management LLC acquired a new stake in shares of Veracyte during the 3rd quarter worth about $723,000. Massachusetts Financial Services Co. MA purchased a new stake in Veracyte during the third quarter worth approximately $324,000. Cerity Partners LLC purchased a new position in Veracyte in the third quarter valued at approximately $431,000. Finally, Algert Global LLC raised its holdings in Veracyte by 411.1% during the third quarter. Algert Global LLC now owns 201,697 shares of the biotechnology company’s stock worth $6,866,000 after purchasing an additional 162,236 shares in the last quarter.

Insider Buying and Selling at Veracyte

In other news, Director Karin Eastham sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total value of $403,000.00. Following the completion of the sale, the director now directly owns 18,497 shares of the company’s stock, valued at $745,429.10. This trade represents a 35.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Veracyte Price Performance

Shares of NASDAQ VCYT opened at $31.82 on Monday. The stock has a fifty day moving average price of $38.53 and a 200 day moving average price of $37.72. Veracyte, Inc. has a 1-year low of $18.61 and a 1-year high of $47.32. The company has a market cap of $2.48 billion, a PE ratio of -212.13 and a beta of 1.80.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. The business had revenue of $118.63 million for the quarter, compared to the consensus estimate of $110.73 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. During the same quarter in the previous year, the firm earned ($0.39) earnings per share. Analysts anticipate that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VCYT has been the topic of a number of recent analyst reports. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $37.00 target price (down from $38.00) on shares of Veracyte in a research report on Thursday, December 5th. Craig Hallum started coverage on Veracyte in a report on Thursday. They set a “buy” rating and a $45.00 price objective on the stock. UBS Group boosted their target price on Veracyte from $46.00 to $49.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $51.00 price target on shares of Veracyte in a research report on Tuesday, February 25th. Finally, StockNews.com downgraded Veracyte from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Veracyte currently has an average rating of “Moderate Buy” and a consensus target price of $43.22.

Veracyte Company 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.