8,074 Shares in Veracyte, Inc. (NASDAQ:VCYT) Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC acquired a new stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,074 shares of the biotechnology company's stock, valued at approximately $320,000.

Several other institutional investors and hedge funds also recently made changes to their positions in VCYT. CWM LLC lifted its holdings in Veracyte by 215.0% during the third quarter. CWM LLC now owns 4,776 shares of the biotechnology company's stock worth $163,000 after acquiring an additional 3,260 shares in the last quarter. Creative Planning acquired a new stake in shares of Veracyte during the third quarter worth about $396,000. Blue Trust Inc. lifted its holdings in shares of Veracyte by 100.6% during the 3rd quarter. Blue Trust Inc. now owns 2,781 shares of the biotechnology company's stock valued at $95,000 after purchasing an additional 1,395 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Veracyte by 127.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 29,455 shares of the biotechnology company's stock valued at $1,003,000 after purchasing an additional 16,512 shares during the period. Finally, Values First Advisors Inc. bought a new stake in Veracyte during the 3rd quarter worth approximately $91,000.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of Veracyte from $26.00 to $28.00 and gave the company an "underweight" rating in a report on Monday, November 18th. Scotiabank upped their target price on shares of Veracyte from $40.00 to $44.00 and gave the stock a "sector outperform" rating in a research note on Friday, November 8th. Needham & Company LLC lifted their price target on Veracyte from $44.00 to $51.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. UBS Group boosted their price target on Veracyte from $43.00 to $46.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $37.00 price target (down previously from $38.00) on shares of Veracyte in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Veracyte has a consensus rating of "Moderate Buy" and an average target price of $42.00.

Veracyte Stock Down 5.2 %

Shares of NASDAQ:VCYT traded down $2.13 during midday trading on Friday, hitting $38.93. The stock had a trading volume of 411,099 shares, compared to its average volume of 775,219. The company has a market cap of $3.02 billion, a P/E ratio of -258.11 and a beta of 1.71. Veracyte, Inc. has a 12 month low of $18.61 and a 12 month high of $47.32. The business's 50-day simple moving average is $42.04 and its 200-day simple moving average is $37.22.

Insider Buying and Selling at Veracyte

In other news, insider John Leite sold 1,050 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $43.25, for a total value of $45,412.50. Following the completion of the sale, the insider now directly owns 73,810 shares of the company's stock, valued at $3,192,282.50. This trade represents a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Jonathan Wygant sold 956 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $43.36, for a total value of $41,452.16. Following the transaction, the chief accounting officer now directly owns 40,270 shares in the company, valued at $1,746,107.20. The trade was a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,565 shares of company stock worth $1,031,406 over the last quarter. 1.30% of the stock is currently owned by insiders.

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.