Advantage Alpha Capital Partners LP Has $853,000 Stock Position in Veracyte, Inc. (NASDAQ:VCYT)

Advantage Alpha Capital Partners LP cut its position in Veracyte, Inc. (NASDAQ:VCYT) by 45.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,066 shares of the biotechnology company’s stock after selling 20,663 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in Veracyte were worth $853,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System grew its position in shares of Veracyte by 11.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 23,056 shares of the biotechnology company’s stock valued at $514,000 after purchasing an additional 2,280 shares during the last quarter. Vanguard Group Inc. grew its holdings in Veracyte by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company’s stock valued at $163,649,000 after buying an additional 266,660 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in Veracyte by 6.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 8,198 shares of the biotechnology company’s stock worth $182,000 after buying an additional 530 shares during the period. Shell Asset Management Co. lifted its holdings in shares of Veracyte by 139.6% during the first quarter. Shell Asset Management Co. now owns 10,070 shares of the biotechnology company’s stock worth $223,000 after buying an additional 5,868 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Veracyte by 105.6% in the first quarter. Lazard Asset Management LLC now owns 6,368 shares of the biotechnology company’s stock valued at $140,000 after acquiring an additional 3,271 shares during the period.

Veracyte Price Performance

Veracyte stock opened at $41.10 on Tuesday. The business has a 50 day simple moving average of $35.04 and a 200 day simple moving average of $28.50. The company has a market capitalization of $3.19 billion, a PE ratio of -274.00 and a beta of 1.67. Veracyte, Inc. has a one year low of $18.61 and a one year high of $41.43.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.16. The business had revenue of $115.86 million for the quarter, compared to analyst estimates of $109.81 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The firm’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.03) EPS. Equities analysts anticipate that Veracyte, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider John Leite sold 5,479 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total transaction of $163,164.62. Following the transaction, the insider now owns 76,174 shares in the company, valued at $2,268,461.72. This represents a 6.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Evan/ Fa Jones sold 5,173 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $35.23, for a total transaction of $182,244.79. Following the completion of the sale, the director now owns 34,343 shares of the company’s stock, valued at $1,209,903.89. The trade was a 13.09 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Veracyte from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC boosted their price objective on shares of Veracyte from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Guggenheim started coverage on shares of Veracyte in a research note on Thursday, October 10th. They issued a “buy” rating and a $40.00 target price for the company. The Goldman Sachs Group boosted their price target on Veracyte from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Leerink Partners raised their price objective on Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $41.25.

Veracyte Profile

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.