Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. lessened its stake in Veracyte, Inc. (NASDAQ:VCYT) by 30.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 96,205 shares of the biotechnology company’s stock after selling 41,162 shares during the quarter. Vestmark Advisory Solutions Inc. owned about 0.12% of Veracyte worth $2,852,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in shares of Veracyte by 1,267.6% in the 1st quarter. Versant Capital Management Inc now owns 930 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 862 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Veracyte in the 1st quarter valued at $48,000. GF Fund Management CO. LTD. acquired a new position in shares of Veracyte in the 4th quarter valued at $64,000. Sterling Capital Management LLC boosted its holdings in shares of Veracyte by 810.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,421 shares of the biotechnology company’s stock valued at $96,000 after purchasing an additional 2,155 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Veracyte by 23,936.4% in the 1st quarter. Covestor Ltd now owns 2,644 shares of the biotechnology company’s stock valued at $78,000 after purchasing an additional 2,633 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on VCYT shares. Needham & Company LLC decreased their price target on shares of Veracyte from $51.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Morgan Stanley set a $28.00 target price on shares of Veracyte and gave the company an “underweight” rating in a report on Friday, August 8th. UBS Group reduced their target price on shares of Veracyte from $49.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Finally, Wall Street Zen upgraded shares of Veracyte from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Veracyte currently has an average rating of “Moderate Buy” and an average target price of $40.90.

Veracyte Price Performance

Veracyte stock opened at $30.22 on Friday. Veracyte, Inc. has a 12-month low of $22.61 and a 12-month high of $47.32. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 91.58 and a beta of 1.97. The firm’s fifty day moving average price is $26.34 and its 200 day moving average price is $30.58.

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.