Semanteon Capital Management LP Makes New $1.24 Million Investment in Veracyte, Inc. (NASDAQ:VCYT)

Semanteon Capital Management LP acquired a new position in shares of Veracyte, Inc. (NASDAQ:VCYT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,989 shares of the biotechnology company’s stock, valued at approximately $1,238,000. Veracyte makes up approximately 0.8% of Semanteon Capital Management LP’s portfolio, making the stock its 18th biggest holding. Semanteon Capital Management LP owned 0.06% of Veracyte as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. CWM LLC grew its holdings in shares of Veracyte by 533.0% during the third quarter. CWM LLC now owns 2,146 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 1,807 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Veracyte during the third quarter worth $390,000. Exchange Traded Concepts LLC grew its holdings in shares of Veracyte by 17.5% during the third quarter. Exchange Traded Concepts LLC now owns 80,419 shares of the biotechnology company’s stock worth $1,796,000 after purchasing an additional 11,966 shares during the last quarter. Asset Management One Co. Ltd. bought a new stake in shares of Veracyte during the third quarter worth $84,000. Finally, Handelsbanken Fonder AB grew its holdings in shares of Veracyte by 46.1% during the third quarter. Handelsbanken Fonder AB now owns 21,006 shares of the biotechnology company’s stock worth $469,000 after purchasing an additional 6,631 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. William Blair reiterated an “outperform” rating on shares of Veracyte in a report on Friday, February 23rd. Needham & Company LLC raised their price target on Veracyte from $30.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Morgan Stanley decreased their price target on Veracyte from $22.00 to $21.00 and set an “underweight” rating on the stock in a report on Monday, February 26th. Finally, The Goldman Sachs Group decreased their price target on Veracyte from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Veracyte currently has an average rating of “Moderate Buy” and an average price target of $29.00.

Veracyte Stock Performance

VCYT traded down $0.42 during midday trading on Thursday, reaching $19.48. 654,215 shares of the company were exchanged, compared to its average volume of 636,753. Veracyte, Inc. has a one year low of $18.61 and a one year high of $30.52. The stock has a market capitalization of $1.46 billion, a P/E ratio of -18.91 and a beta of 1.62. The stock’s 50-day simple moving average is $21.70 and its 200 day simple moving average is $23.88.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Thursday, February 22nd. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. Veracyte had a negative return on equity of 2.02% and a negative net margin of 20.61%. The firm had revenue of $98.20 million for the quarter, compared to analysts’ expectations of $95.49 million. On average, research analysts anticipate that Veracyte, Inc. will post -0.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Karin Eastham sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $21.65, for a total transaction of $216,500.00. Following the sale, the director now owns 33,125 shares of the company’s stock, valued at $717,156.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.60% of the company’s stock.

About Veracyte

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.