Sherbrooke Park Advisers LLC Raises Holdings in Veracyte, Inc. (NASDAQ:VCYT)

Sherbrooke Park Advisers LLC grew its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 7.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,493 shares of the biotechnology company’s stock after buying an additional 618 shares during the period. Sherbrooke Park Advisers LLC’s holdings in Veracyte were worth $376,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in VCYT. Jones Financial Companies Lllp lifted its position in shares of Veracyte by 49.7% during 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 during the last quarter. US Bancorp DE lifted its position in shares of Veracyte by 57.4% during the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock valued at $70,000 after buying an additional 647 shares during the last quarter. Principal Securities Inc. lifted its position in shares of Veracyte by 34.1% during the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock valued at $76,000 after buying an additional 485 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Veracyte during the 4th quarter valued at $91,000. Finally, Sterling Capital Management LLC lifted its position in shares of Veracyte by 810.2% during the 4th quarter. Sterling Capital Management LLC now owns 2,421 shares of the biotechnology company’s stock valued at $96,000 after buying an additional 2,155 shares during the last quarter.

Veracyte Stock Up 2.5%

Shares of NASDAQ VCYT opened at $29.20 on Friday. The firm has a market capitalization of $2.29 billion, a P/E ratio of -194.67 and a beta of 2.14. The stock’s 50-day simple moving average is $30.79 and its two-hundred day simple moving average is $36.96. Veracyte, Inc. has a twelve month low of $19.73 and a twelve month high of $47.32.

Veracyte (NASDAQ:VCYT) last announced its earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $118.63 million for the quarter, compared to analyst estimates of $110.73 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. During the same period in the prior year, the company earned ($0.39) EPS. As a group, research analysts anticipate that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.

Analysts Set New Price Targets

VCYT has been the topic of a number of analyst reports. Craig Hallum initiated coverage on Veracyte in a research note on Thursday, March 20th. They set a “buy” rating and a $45.00 price objective on the stock. Stephens reiterated an “overweight” rating and set a $45.00 price objective on shares of Veracyte in a research note on Wednesday, March 26th. UBS Group decreased their price objective on Veracyte from $49.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. StockNews.com lowered Veracyte from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, Guggenheim decreased their price objective on Veracyte from $45.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.