Parkman Healthcare Partners LLC Has $4.93 Million Holdings in Veracyte, Inc. $VCYT

Parkman Healthcare Partners LLC increased its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 65.8% in the first quarter, Holdings Channel reports. The firm owned 166,278 shares of the biotechnology company’s stock after buying an additional 65,977 shares during the quarter. Parkman Healthcare Partners LLC’s holdings in Veracyte were worth $4,930,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VCYT. Northern Trust Corp grew its stake in Veracyte by 12.7% in the fourth quarter. Northern Trust Corp now owns 1,069,187 shares of the biotechnology company’s stock valued at $42,340,000 after acquiring an additional 120,752 shares during the period. Captrust Financial Advisors bought a new stake in shares of Veracyte in the fourth quarter valued at about $206,000. Deutsche Bank AG raised its holdings in Veracyte by 42.4% during the fourth quarter. Deutsche Bank AG now owns 81,266 shares of the biotechnology company’s stock worth $3,218,000 after acquiring an additional 24,197 shares in the last quarter. Fred Alger Management LLC raised its holdings in Veracyte by 254.1% during the fourth quarter. Fred Alger Management LLC now owns 33,892 shares of the biotechnology company’s stock worth $1,342,000 after acquiring an additional 24,321 shares in the last quarter. Finally, Graham Capital Management L.P. raised its holdings in Veracyte by 24.0% during the fourth quarter. Graham Capital Management L.P. now owns 21,787 shares of the biotechnology company’s stock worth $863,000 after acquiring an additional 4,216 shares in the last quarter.

Veracyte Stock Performance

Shares of VCYT opened at $32.43 on Friday. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 98.28 and a beta of 2.07. Veracyte, Inc. has a 52 week low of $22.61 and a 52 week high of $47.32. The stock has a fifty day moving average of $27.29 and a 200-day moving average of $29.28.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley set a $28.00 price objective on Veracyte and gave the company an “underweight” rating in a research note on Friday, August 8th. Wall Street Zen raised Veracyte from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.90.

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.