Rice Hall James & Associates LLC trimmed its holdings in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 24.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,615 shares of the biotechnology company's stock after selling 31,575 shares during the quarter. Rice Hall James & Associates LLC owned 0.12% of Veracyte worth $3,786,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Venturi Wealth Management LLC acquired a new stake in Veracyte in the 4th quarter valued at about $91,000. D.A. Davidson & CO. purchased a new stake in Veracyte during the fourth quarter valued at about $925,000. Principal Financial Group Inc. lifted its stake in Veracyte by 6.8% during the fourth quarter. Principal Financial Group Inc. now owns 32,560 shares of the biotechnology company's stock valued at $1,289,000 after buying an additional 2,074 shares in the last quarter. Principal Securities Inc. lifted its stake in Veracyte by 34.1% during the fourth 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 in the last quarter. Finally, Rhumbline Advisers lifted its stake in Veracyte by 0.6% during the fourth quarter. Rhumbline Advisers now owns 123,324 shares of the biotechnology company's stock valued at $4,884,000 after buying an additional 675 shares in the last quarter.
Insider Buying and Selling
In other Veracyte news, insider John Leite sold 1,050 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $43.25, for a total transaction of $45,412.50. Following the transaction, the insider now owns 73,810 shares in the company, valued at $3,192,282.50. This trade represents a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Jonathan Wygant sold 956 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $43.36, for a total value of $41,452.16. Following the transaction, the chief accounting officer now owns 40,270 shares in the company, valued at approximately $1,746,107.20. This trade represents a 2.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,565 shares of company stock worth $1,031,406. Insiders own 1.30% of the company's stock.
Veracyte Price Performance
NASDAQ:VCYT traded down $1.87 during mid-day trading on Friday, reaching $39.18. The stock had a trading volume of 856,946 shares, compared to its average volume of 789,848. The business's 50 day moving average is $42.04 and its 200 day moving average is $37.22. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $47.32. The stock has a market cap of $3.04 billion, a P/E ratio of -261.20 and a beta of 1.71.
Analyst Ratings Changes
VCYT has been the subject of a number of analyst reports. StockNews.com lowered shares of Veracyte from a "buy" rating to a "hold" rating in a research note on Tuesday. Needham & Company LLC upped their price objective on shares of Veracyte from $44.00 to $51.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. The Goldman Sachs Group reissued a "neutral" rating and issued a $37.00 price target (down from $38.00) on shares of Veracyte in a research report on Thursday, December 5th. Morgan Stanley increased their price target on shares of Veracyte from $26.00 to $28.00 and gave the stock an "underweight" rating in a research report on Monday, November 18th. Finally, Wolfe Research started coverage on shares of Veracyte in a research report on Friday, November 15th. They issued an "outperform" rating and a $50.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Veracyte presently has an average rating of "Moderate Buy" and an average target price of $42.00.
Check Out Our Latest Stock Analysis on Veracyte
Veracyte Company Profile
(
Free Report)
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.
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