Graham Capital Management L.P. Purchases 4,216 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Graham Capital Management L.P. boosted its position in Veracyte, Inc. (NASDAQ:VCYT) by 24.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,787 shares of the biotechnology company’s stock after purchasing an additional 4,216 shares during the quarter. Graham Capital Management L.P.’s holdings in Veracyte were worth $863,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in VCYT. Barclays PLC boosted its stake in Veracyte by 138.6% in the 3rd quarter. Barclays PLC now owns 146,402 shares of the biotechnology company’s stock valued at $4,983,000 after purchasing an additional 85,033 shares during the period. Avanza Fonder AB bought a new stake in Veracyte in the 4th quarter valued at $1,379,000. Legal Advantage Investments Inc. bought a new stake in Veracyte in the 4th quarter valued at $250,000. KBC Group NV boosted its stake in Veracyte by 44.6% in the 4th quarter. KBC Group NV now owns 3,872 shares of the biotechnology company’s stock valued at $153,000 after purchasing an additional 1,195 shares during the period. Finally, Baader Bank Aktiengesellschaft bought a new stake in Veracyte in the 4th quarter valued at $262,000.

Veracyte Stock Down 4.7%

Shares of VCYT stock opened at $29.31 on Wednesday. Veracyte, Inc. has a twelve month low of $19.73 and a twelve month high of $47.32. The company has a market cap of $2.30 billion, a P/E ratio of -195.40 and a beta of 2.14. The business has a fifty day simple moving average of $31.00 and a 200 day simple moving average of $37.13.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $118.63 million during the quarter, compared to the consensus estimate of $110.73 million. During the same period in the prior year, the company earned ($0.39) EPS. As a group, equities research analysts anticipate that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VCYT has been the subject of several recent research reports. UBS Group reduced their price target on Veracyte from $49.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Stephens reiterated an “overweight” rating and set a $45.00 target price on shares of Veracyte in a research report on Wednesday, March 26th. Guggenheim cut their target price on Veracyte from $45.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Needham & Company LLC cut their target price on Veracyte from $51.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Finally, Craig Hallum assumed coverage on Veracyte in a research report on Thursday, March 20th. They set a “buy” rating and a $45.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Veracyte 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.