Yahoo Finance What Makes Veracyte (VCYT) a Lucrative Investment?
Next Century Growth Investors, LLC, an investment Management Company, released its “Micro-Cap Strategy” fourth-quarter investor letter. A copy of the letter can be downloaded here. The recent surge in the stock market highlights the significance of current macroeconomic indicators and the Fed's outlook on future interest rates. The strategy returned 9.54% (net of fees) compared to 15.63% for the Russell Microcap Growth Index. Over the trailing year, the strategy returned 10.15% compared to 9.10% for the index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
NCG Micro-Cap Strategy featured stocks like Veracyte, Inc. (NASDAQ:VCYT) in the Q4 2023 investor letter. Headquartered in South San Francisco, California, Veracyte, Inc. (NASDAQ:VCYT) is a diagnostics company. On April 1, 2024, Veracyte, Inc. (NASDAQ:VCYT) stock closed at $21.64 per share. One-month return of Veracyte, Inc. (NASDAQ:VCYT) was -9.98%, and its shares lost 6.81% of their value over the last 52 weeks. Veracyte, Inc. (NASDAQ:VCYT) has a market capitalization of $1.553 billion.
NCG Micro-Cap Strategy stated the following regarding Veracyte, Inc. (NASDAQ:VCYT) in its fourth quarter 2023 investor letter:
"Veracyte, Inc. (NASDAQ:VCYT) is a medical diagnostics company with leading tests in thyroid and prostate cancer. VCYT is a company we have owned in the past but sold due to uncertainty regarding acquisitions and management turnover. The new management team has now solidified the portfolio and company strategy to focus on areas with strong growth potential where VCYT has a differentiated offering. There continues to be strong growth potential in thyroid and prostate cancer for VCYT and the company has a healthy pipeline of tests in development that could lead to future value upside. In addition, VCYT is a profitable company with a healthy balance sheet to support its growth ambitions."
A doctor administering a diagnostic test kit for the detection of gastrointestinal diseases.
Veracyte, Inc. (NASDAQ:VCYT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Veracyte, Inc. (NASDAQ:VCYT) was held by 20 hedge fund portfolios, compared to 22 in the previous quarter, according to our database.
We discussed Veracyte, Inc. (NASDAQ:VCYT) in another article and shared the list of best stocks to buy and hold for the next 15 years according to Cathie Wood’s portfolio. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
