Stonepine Capital Management LLC acquired a new stake in shares of Veracyte, Inc. (NASDAQ:VCYT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 970,500 shares of the company’s stock, valued at approximately $7,512,000. Veracyte comprises about 4.5% of Stonepine Capital Management LLC’s holdings, making the stock its 10th largest position. Stonepine Capital Management LLC owned approximately 3.47% of Veracyte at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in VCYT. Cannell Capital LLC bought a new stake in shares of Veracyte during the third quarter valued at about $2,897,000. State Street Corp boosted its stake in shares of Veracyte by 13.1% in the fourth quarter. State Street Corp now owns 167,368 shares of the company’s stock valued at $1,297,000 after buying an additional 19,361 shares in the last quarter. Oxford Asset Management bought a new stake in shares of Veracyte during the fourth quarter valued at about $764,000. Birchview Capital LP boosted its stake in shares of Veracyte by 130.8% in the fourth quarter. Birchview Capital LP now owns 79,767 shares of the company’s stock valued at $617,000 after buying an additional 45,200 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Veracyte by 9.5% in the second quarter. Bank of New York Mellon Corp now owns 45,806 shares of the company’s stock valued at $231,000 after buying an additional 3,955 shares in the last quarter. 47.50% of the stock is owned by institutional investors.
Shares of Veracyte, Inc. (NASDAQ:VCYT) traded down 0.39% during trading on Monday, reaching $7.73. 75,608 shares of the company’s stock were exchanged. Veracyte, Inc. has a 52-week low of $4.21 and a 52-week high of $8.45. The company has a 50 day moving average of $7.59 and a 200 day moving average of $6.99. The firm’s market capitalization is $216.05 million.
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Several analysts have recently issued reports on VCYT shares. Zacks Investment Research raised shares of Veracyte from a “sell” rating to a “hold” rating in a research note on Wednesday, January 25th. William Blair reissued an “outperform” rating on shares of Veracyte in a research note on Tuesday, October 18th. Leerink Swann reissued a “buy” rating and set a $12.00 price objective on shares of Veracyte in a research note on Tuesday, November 22nd. Cantor Fitzgerald set a $13.00 price objective on shares of Veracyte and gave the company a “buy” rating in a research note on Tuesday, November 22nd. Finally, Janney Montgomery Scott upgraded shares of Veracyte from a “neutral” rating to a “buy” rating in a report on Tuesday, November 29th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Veracyte currently has an average rating of “Buy” and an average price target of $10.60.
Veracyte, Inc is a genomic diagnostics company. The Company uses genomic technology to resolve diagnostic ambiguity. It targets diseases in which patients undergo invasive diagnostic procedures. Its products combine genomic technology, clinical science and machine learning. The Company commercializes over three genomic tests, which are transforming the diagnosis of thyroid cancer, lung cancer and idiopathic pulmonary fibrosis.
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