Acuta Capital Partners buys $14.1 Million stake in Veracyte Inc (VCYT)

Veracyte Inc (VCYT) : Acuta Capital Partners scooped up 1,020,642 additional shares in Veracyte Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 2,736,642 shares of Veracyte Inc which is valued at $14.1 Million.Veracyte Inc makes up approximately 8.30% of Acuta Capital Partners’s portfolio.

Other Hedge Funds, Including , Ghost Tree Capital reduced its stake in VCYT by selling 8,292 shares or 2.37% in the most recent quarter. The Hedge Fund company now holds 341,708 shares of VCYT which is valued at $1.8 Million. Veracyte Inc makes up approx 1.42% of Ghost Tree Capital’s portfolio.Group One Trading boosted its stake in VCYT in the latest quarter, The investment management firm added 41,453 additional shares and now holds a total of 54,623 shares of Veracyte Inc which is valued at $281,855. Veracyte Inc makes up approx 0.03% of Group One Trading’s portfolio.

Veracyte Inc opened for trading at $5.43 and hit $5.56 on the upside on Wednesday, eventually ending the session at $5.56, with a gain of 2.96% or 0.16 points. The heightened volatility saw the trading volume jump to 38,178 shares. Company has a market cap of $155 M.

On the company’s financial health, Veracyte Inc reported $-0.36 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $-0.35. The company had revenue of $13.55 million for the quarter, compared to analysts expectations of $13.06 million. The company’s revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.34 EPS.

Veracyte Inc. is a molecular diagnostics company. The Company is engaged in the field of molecular cytology providing genomic solutions to resolve diagnostic ambiguity and enable physicians to make treatment decisions at an early stage in patient care. It targets diseases in which a large number of patients undergo invasive diagnostic procedures that could be avoided with a diagnosis from a cytology sample. The Company’s commercial solution the Afirma Thyroid FNA Analysis includes as its centerpiece the Gene Expression Classifier (GEC). The GEC allows physicians reduce the number of surgeries by employing a 142-gene signature to pre-operatively determine whether thyroid nodules previously classified by cytopathology as indeterminate can be reclassified as benign. The offering also includes cytopathology testing and the Afirma Malignancy Classifiers. The Company markets and sells Afrma through a co-promotion agreement with Genzyme Corporation a subsidiary of Sanofi.

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