Picton Mahoney Asset Management Has $263,000 Stock Position in Veracyte, Inc. (NASDAQ:VCYT)

Picton Mahoney Asset Management lifted its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 17,837.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,637 shares of the biotechnology company’s stock after acquiring an additional 6,600 shares during the period. Picton Mahoney Asset Management’s holdings in Veracyte were worth $263,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Jones Financial Companies Lllp increased its holdings in Veracyte by 49.7% during the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 237 shares in the last quarter. US Bancorp DE grew its holdings in Veracyte by 57.4% during the fourth quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock worth $70,000 after buying an additional 647 shares in the last quarter. Principal Securities Inc. raised its position in Veracyte by 34.1% in the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock valued at $76,000 after buying an additional 485 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Veracyte during the 4th quarter valued at $91,000. Finally, KBC Group NV boosted its holdings in Veracyte by 13.7% during the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock worth $91,000 after acquiring an additional 323 shares during the last quarter.

Veracyte Stock Performance

Shares of VCYT opened at $31.51 on Monday. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $47.32. The business has a 50-day moving average of $39.67 and a 200 day moving average of $37.70. The firm has a market cap of $2.46 billion, a P/E ratio of -210.07 and a beta of 1.80.

Veracyte (NASDAQ:VCYT) last posted its earnings results 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 firm had revenue of $118.63 million during the quarter, compared to the consensus estimate 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 quarter last year, the company earned ($0.39) earnings per share. As a group, research analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on VCYT shares. The Goldman Sachs Group reissued a “neutral” rating and set a $37.00 price target (down from $38.00) on shares of Veracyte in a research report on Thursday, December 5th. Morgan Stanley boosted their target price on Veracyte from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Monday, November 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $51.00 price target on shares of Veracyte in a research report on Tuesday, February 25th. UBS Group boosted their price objective on Veracyte from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Finally, Guggenheim reaffirmed a “buy” rating and set a $45.00 target price on shares of Veracyte in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Insider Buying and Selling at Veracyte

In other news, Director Karin Eastham sold 10,000 shares of Veracyte stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total value of $403,000.00. Following the completion of the transaction, the director now directly owns 18,497 shares in the company, valued at approximately $745,429.10. The trade was a 35.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

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.