Semanteon Capital Management LP Acquires Shares of 44,989 Veracyte, Inc. (NASDAQ:VCYT)

Semanteon Capital Management LP acquired a new stake in Veracyte, Inc. (NASDAQ:VCYT) in the 4th quarter, Holdings Channel.com reports. The fund acquired 44,989 shares of the biotechnology company’s stock, valued at approximately $1,238,000. Veracyte comprises approximately 0.8% of Semanteon Capital Management LP’s holdings, making the stock its 18th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of Veracyte by 533.0% during the 3rd quarter. CWM LLC now owns 2,146 shares of the biotechnology company’s stock worth $48,000 after buying an additional 1,807 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Veracyte during the 3rd quarter worth $390,000. Exchange Traded Concepts LLC raised its holdings in shares of Veracyte by 17.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 80,419 shares of the biotechnology company’s stock worth $1,796,000 after buying an additional 11,966 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Veracyte during the 3rd quarter worth $84,000. Finally, Handelsbanken Fonder AB raised its holdings in shares of Veracyte by 46.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 21,006 shares of the biotechnology company’s stock worth $469,000 after buying an additional 6,631 shares in the last quarter.

Insider Buying and Selling at Veracyte

In other Veracyte news, Director Karin Eastham sold 10,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $21.65, for a total value of $216,500.00. Following the sale, the director now owns 33,125 shares in the company, valued at approximately $717,156.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. William Blair reissued an “outperform” rating on shares of Veracyte in a report on Friday, February 23rd. The Goldman Sachs Group lowered their target price on Veracyte from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, April 15th. Morgan Stanley lowered their target price on Veracyte from $22.00 to $21.00 and set an “underweight” rating for the company in a report on Monday, February 26th. Finally, Needham & Company LLC upped their target price on Veracyte from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. One research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.00.

Veracyte Trading Down 2.1 %

VCYT traded down $0.42 on Thursday, reaching $19.48. The stock had a trading volume of 654,215 shares, compared to its average volume of 636,753. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $30.52. The firm has a 50-day moving average of $21.70 and a 200-day moving average of $23.88. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -18.91 and a beta of 1.62.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported ($0.04) EPS for the quarter, beating 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 analyst estimates of $95.49 million. Sell-side analysts anticipate that Veracyte, Inc. will post -0.29 EPS for the current fiscal year.

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.