IQ EQ FUND MANAGEMENT IRELAND Ltd Buys 39,890 Shares of Veracyte, Inc. $VCYT

IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Veracyte, Inc. (NASDAQ:VCYT) by 130.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,494 shares of the biotechnology company’s stock after purchasing an additional 39,890 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned approximately 0.09% of Veracyte worth $1,905,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. State of New Jersey Common Pension Fund D increased its position in shares of Veracyte by 39.9% in the second quarter. State of New Jersey Common Pension Fund D now owns 68,739 shares of the biotechnology company’s stock worth $1,858,000 after purchasing an additional 19,590 shares during the last quarter. AlphaQuest LLC increased its position in shares of Veracyte by 1,279.9% in the second quarter. AlphaQuest LLC now owns 8,031 shares of the biotechnology company’s stock worth $217,000 after purchasing an additional 7,449 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Veracyte in the second quarter worth approximately $305,000. Cannon Global Investment Management LLC bought a new position in shares of Veracyte in the second quarter worth approximately $419,000. Finally, Huntleigh Advisors Inc. grew its position in Veracyte by 4.2% during the second quarter. Huntleigh Advisors Inc. now owns 21,809 shares of the biotechnology company’s stock valued at $590,000 after acquiring an additional 876 shares during the last quarter.

Insider Buying and Selling

In related news, insider Phillip G. Febbo sold 8,349 shares of the firm’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $36.02, for a total value of $300,730.98. Following the completion of the sale, the insider owned 92,441 shares of the company’s stock, valued at $3,329,724.82. This trade represents a 8.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Marc Stapley sold 7,667 shares of the firm’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $30.41, for a total value of $233,153.47. Following the completion of the sale, the chief executive officer directly owned 334,185 shares of the company’s stock, valued at $10,162,565.85. The trade was a 2.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 18,299 shares of company stock valued at $610,799 over the last quarter. 1.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Zacks Research upgraded shares of Veracyte from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Veracyte in a research report on Wednesday, October 8th. Morgan Stanley set a $28.00 price target on shares of Veracyte and gave the company an “underweight” rating in a research report on Friday, August 8th. Canaccord Genuity Group assumed coverage on shares of Veracyte in a research report on Monday, October 20th. They set a “hold” rating and a $40.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Veracyte from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $40.90.

Veracyte Stock Performance

NASDAQ:VCYT opened at $35.60 on Wednesday. The firm has a market cap of $2.80 billion, a PE ratio of 107.88 and a beta of 2.11. Veracyte, Inc. has a fifty-two week low of $22.61 and a fifty-two week high of $47.32. The business has a 50 day moving average price of $33.16 and a 200-day moving average price of $29.69.

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.