William Blair Investment Management LLC raised its position in shares of Veracyte, Inc. (NASDAQ:VCYT – Free Report) by 16.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 790,425 shares of the biotechnology company’s stock after purchasing an additional 112,516 shares during the quarter. William Blair Investment Management LLC’s holdings in Veracyte were worth $33,277,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund increased its position in Veracyte by 2.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,100 shares of the biotechnology company’s stock valued at $762,000 after purchasing an additional 400 shares during the period. Arizona State Retirement System boosted its holdings in shares of Veracyte by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 23,158 shares of the biotechnology company’s stock worth $795,000 after buying an additional 419 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Veracyte by 1.3% during the 4th quarter. State of Alaska Department of Revenue now owns 44,264 shares of the biotechnology company’s stock worth $1,862,000 after buying an additional 552 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of Veracyte by 0.8% during the 2nd quarter. California State Teachers Retirement System now owns 71,095 shares of the biotechnology company’s stock worth $1,922,000 after buying an additional 566 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Veracyte by 26.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,841 shares of the biotechnology company’s stock worth $162,000 after buying an additional 800 shares in the last quarter.
Veracyte Price Performance
Shares of VCYT opened at $45.03 on Monday. Veracyte, Inc. has a 12-month low of $22.61 and a 12-month high of $50.71. The business’s fifty day moving average is $34.90 and its 200 day moving average is $38.65. The stock has a market cap of $3.59 billion, a P/E ratio of 41.31 and a beta of 1.89.
Insider Buying and Selling
In other Veracyte news, SVP Annie Mcguire sold 10,204 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $39.02, for a total transaction of $398,160.08. Following the transaction, the senior vice president directly owned 143,708 shares in the company, valued at approximately $5,607,486.16. This trade represents a 6.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Marc Stapley sold 45,523 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $35.97, for a total value of $1,637,462.31. Following the transaction, the chief executive officer owned 357,554 shares in the company, valued at approximately $12,861,217.38. This trade represents a 11.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 95,986 shares of company stock worth $3,560,357 over the last quarter. Corporate insiders own 1.40% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on VCYT shares. Needham & Company LLC restated a “buy” rating and set a $48.00 price target on shares of Veracyte in a report on Wednesday, April 1st. Weiss Ratings restated a “hold (c)” rating on shares of Veracyte in a report on Friday, March 27th. Jefferies Financial Group started coverage on Veracyte in a report on Monday, April 13th. They set a “buy” rating and a $45.00 price target on the stock. Guggenheim cut their price target on Veracyte from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Finally, UBS Group increased their price target on Veracyte from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $44.83.
Check Out Our Latest Analysis on VCYT
Veracyte Profile
Veracyte, Inc is a genomic diagnostics company focused on improving diagnostic accuracy and patient care through advanced molecular testing. Founded in 2008 and headquartered in South San Francisco, California, the company develops and commercializes minimally invasive genomic tests that aid in the diagnosis of thyroid, lung and other diseases. Veracyte’s proprietary platform analyzes gene expression patterns in clinical samples to help physicians make more informed treatment decisions, reducing unnecessary surgeries and improving patient outcomes.
The company’s flagship product, the Afirma Genomic Sequencing Classifier, is designed to assess thyroid nodules with indeterminate cytology, helping clinicians distinguish benign from suspicious nodules.
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