Rhumbline Advisers Lowers Position in Veracyte, Inc. $VCYT

Rhumbline Advisers trimmed its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 2.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 120,454 shares of the biotechnology company’s stock after selling 2,870 shares during the quarter. Rhumbline Advisers owned about 0.15% of Veracyte worth $3,571,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc increased its holdings in Veracyte by 1,267.6% in the 1st quarter. Versant Capital Management Inc now owns 930 shares of the biotechnology company’s stock worth $28,000 after buying an additional 862 shares during the period. Headlands Technologies LLC purchased a new position in Veracyte in the 1st quarter valued at $48,000. GF Fund Management CO. LTD. purchased a new position in Veracyte in the 4th quarter valued at $64,000. Covestor Ltd increased its stake 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 worth $78,000 after acquiring an additional 2,633 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new stake in shares of Veracyte in the 4th quarter valued at approximately $206,000.

Wall Street Analysts Forecast Growth

VCYT has been the subject of a number of recent analyst reports. Morgan Stanley set a $28.00 price objective on Veracyte and gave the stock an “underweight” rating in a research report on Friday, August 8th. Wall Street Zen upgraded Veracyte from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.90.

Veracyte Trading Up 3.2%

NASDAQ VCYT opened at $31.87 on Tuesday. The business’s 50-day moving average price is $27.83 and its 200 day moving average price is $28.92. Veracyte, Inc. has a twelve month low of $22.61 and a twelve month high of $47.32. The company has a market capitalization of $2.51 billion, a PE ratio of 96.58 and a beta of 2.07.

Insider Activity at Veracyte

In other news, CEO Marc Stapley sold 7,667 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $30.41, for a total value of $233,153.47. Following the transaction, the chief executive officer directly owned 334,185 shares in the company, valued at $10,162,565.85. This trade represents a 2.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by company insiders.

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.