Bryce Point Capital LLC Buys Shares of 25,775 Veracyte, Inc. (NASDAQ:VCYT)

Bryce Point Capital LLC purchased a new position in Veracyte, Inc. (NASDAQ:VCYT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 25,775 shares of the biotechnology company’s stock, valued at approximately $1,021,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VCYT. Vanguard Group Inc. lifted its holdings in Veracyte by 6.0% during the fourth quarter. Vanguard Group Inc. now owns 8,211,612 shares of the biotechnology company’s stock worth $325,180,000 after buying an additional 463,098 shares during the period. Artisan Partners Limited Partnership raised its position in shares of Veracyte by 31.4% in the 4th quarter. Artisan Partners Limited Partnership now owns 6,599,264 shares of the biotechnology company’s stock worth $261,331,000 after acquiring an additional 1,576,432 shares in the last quarter. State Street Corp lifted its stake in shares of Veracyte by 0.3% during the 3rd quarter. State Street Corp now owns 2,916,515 shares of the biotechnology company’s stock worth $99,278,000 after purchasing an additional 7,920 shares during the last quarter. Geode Capital Management LLC boosted its position in Veracyte by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,844,713 shares of the biotechnology company’s stock valued at $62,806,000 after purchasing an additional 17,921 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in Veracyte by 116.3% in the fourth quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company’s stock valued at $33,017,000 after purchasing an additional 448,251 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Craig Hallum started coverage on shares of Veracyte in a report on Thursday, March 20th. They issued a “buy” rating and a $45.00 price target on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $37.00 price target (down from $38.00) on shares of Veracyte in a report on Thursday, December 5th. Guggenheim reiterated a “buy” rating and set a $45.00 price objective on shares of Veracyte in a report on Tuesday, February 25th. Needham & Company LLC reissued a “buy” rating and issued a $51.00 price objective on shares of Veracyte in a research report on Tuesday, February 25th. Finally, StockNews.com lowered Veracyte from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.40.

Veracyte Stock Performance

Veracyte stock opened at $30.13 on Thursday. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $47.32. The company has a market cap of $2.35 billion, a PE ratio of -200.87 and a beta of 2.03. The business’s 50-day simple moving average is $36.81 and its two-hundred day simple moving average is $37.72.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Monday, February 24th. The biotechnology company reported $0.36 EPS for the quarter, beating 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 quarter in the prior year, the firm earned ($0.39) earnings per share. As a group, analysts predict that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.

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.