Sherbrooke Park Advisers LLC Purchases 618 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Sherbrooke Park Advisers LLC grew its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 7.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,493 shares of the biotechnology company’s stock after purchasing an additional 618 shares during the quarter. Sherbrooke Park Advisers LLC’s holdings in Veracyte were worth $376,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp increased 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 purchasing an additional 237 shares during the last quarter. US Bancorp DE grew its position in Veracyte by 57.4% during the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock worth $70,000 after acquiring an additional 647 shares during the last quarter. Principal Securities Inc. grew its position in Veracyte by 34.1% during the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock worth $76,000 after acquiring an additional 485 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Veracyte during the 4th quarter worth approximately $91,000. Finally, Sterling Capital Management LLC grew its position in Veracyte by 810.2% during the 4th quarter. Sterling Capital Management LLC now owns 2,421 shares of the biotechnology company’s stock worth $96,000 after acquiring an additional 2,155 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts recently issued reports on VCYT shares. Needham & Company LLC reduced their price target on Veracyte from $51.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Guggenheim reduced their price target on Veracyte from $45.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Craig Hallum started coverage on Veracyte in a research report on Thursday, March 20th. They set a “buy” rating and a $45.00 price target on the stock. Stephens restated an “overweight” rating and set a $45.00 price target on shares of Veracyte in a research report on Wednesday, March 26th. Finally, StockNews.com lowered Veracyte from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. One investment 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.90.

Veracyte Stock Performance

NASDAQ VCYT opened at $29.20 on Friday. Veracyte, Inc. has a fifty-two week low of $19.73 and a fifty-two week high of $47.32. The stock has a 50 day simple moving average of $30.79 and a two-hundred day simple moving average of $36.96. The stock has a market cap of $2.29 billion, a P/E ratio of -194.67 and a beta of 2.14.

Veracyte (NASDAQ:VCYT) last released 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. The business had revenue of $118.63 million during the quarter, compared to analysts’ expectations 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 quarter last year, the business posted ($0.39) EPS. Sell-side analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current year.

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.