Nebula Research & Development LLC Cuts Stock Position in Veracyte, Inc. (NASDAQ:VCYT)

Nebula Research & Development LLC decreased its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,236 shares of the biotechnology company’s stock after selling 1,283 shares during the quarter. Nebula Research & Development LLC owned about 0.06% of Veracyte worth $1,791,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in VCYT. Lord Abbett & CO. LLC grew its holdings in shares of Veracyte by 39.6% during the fourth quarter. Lord Abbett & CO. LLC now owns 389,606 shares of the biotechnology company’s stock valued at $15,428,000 after buying an additional 110,574 shares during the last quarter. Oberweis Asset Management Inc. lifted its position in Veracyte by 4.6% in the 4th quarter. Oberweis Asset Management Inc. now owns 748,720 shares of the biotechnology company’s stock valued at $29,649,000 after acquiring an additional 32,800 shares in the last quarter. Syon Capital LLC purchased a new stake in Veracyte during the 4th quarter valued at $212,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Veracyte by 3.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 48,414 shares of the biotechnology company’s stock worth $1,918,000 after purchasing an additional 1,816 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in shares of Veracyte in the fourth quarter worth $845,000.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. StockNews.com downgraded Veracyte from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Stephens reissued an “overweight” rating and set a $45.00 price objective on shares of Veracyte in a report on Wednesday, March 26th. UBS Group increased their price objective on shares of Veracyte from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Guggenheim cut their target price on shares of Veracyte from $45.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $51.00 price target on shares of Veracyte in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.60.

Veracyte Trading Up 0.3 %

Shares of NASDAQ:VCYT opened at $32.23 on Friday. The stock has a 50 day moving average of $32.25 and a 200 day moving average of $37.28. The company has a market cap of $2.51 billion, a PE ratio of -214.87 and a beta of 2.03. Veracyte, Inc. has a 12-month low of $19.16 and a 12-month high of $47.32.

Veracyte (NASDAQ:VCYT) last posted its quarterly 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 during the quarter, compared to analyst estimates of $110.73 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. During the same period in the prior year, the business posted ($0.39) earnings per share. Equities research analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

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.