AQR Capital Management LLC Lowers Stock Position in Veracyte, Inc. $VCYT

AQR Capital Management LLC lessened its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 14.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 195,889 shares of the biotechnology company’s stock after selling 34,410 shares during the period. AQR Capital Management LLC owned about 0.25% of Veracyte worth $5,808,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in shares of Veracyte by 54.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,538 shares of the biotechnology company’s stock worth $400,000 after purchasing an additional 4,792 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Veracyte by 122.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,199 shares of the biotechnology company’s stock worth $540,000 after purchasing an additional 10,022 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Veracyte by 2.0% in the 1st quarter. Bank of New York Mellon Corp now owns 248,224 shares of the biotechnology company’s stock worth $7,360,000 after purchasing an additional 4,772 shares during the period. Principal Financial Group Inc. lifted its position in shares of Veracyte by 9.5% in the 1st quarter. Principal Financial Group Inc. now owns 35,663 shares of the biotechnology company’s stock worth $1,057,000 after purchasing an additional 3,103 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Veracyte by 4,351.0% in the 1st quarter. GAMMA Investing LLC now owns 19,273 shares of the biotechnology company’s stock worth $571,000 after purchasing an additional 18,840 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VCYT. Morgan Stanley set a $28.00 price target on shares of Veracyte and gave the stock an “underweight” rating in a research report on Friday, August 8th. Wall Street Zen raised shares of Veracyte from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.90.

Insider Buying and Selling at Veracyte

In other news, CEO Marc Stapley sold 7,667 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $30.41, for a total value of $233,153.47. Following the sale, the chief executive officer owned 334,185 shares in the company, valued at $10,162,565.85. This represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by insiders.

Veracyte Price Performance

NASDAQ:VCYT opened at $30.88 on Friday. The firm has a market capitalization of $2.43 billion, a P/E ratio of 93.58 and a beta of 2.07. Veracyte, Inc. has a 1-year low of $22.61 and a 1-year high of $47.32. The company’s fifty day moving average price is $27.71 and its 200-day moving average price is $29.02.

About Veracyte

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.