Wealth Enhancement Advisory Services LLC Sells 5,246 Shares of Veracyte, Inc. $VCYT

Wealth Enhancement Advisory Services LLC reduced its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 28.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,953 shares of the biotechnology company’s stock after selling 5,246 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Veracyte were worth $356,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of VCYT. Nuveen LLC purchased a new position in Veracyte in the 1st quarter worth approximately $33,003,000. Assenagon Asset Management S.A. raised its holdings in Veracyte by 1,705.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 488,061 shares of the biotechnology company’s stock worth $14,471,000 after purchasing an additional 461,023 shares in the last quarter. Picton Mahoney Asset Management grew its position in shares of Veracyte by 3,824.9% in the 1st quarter. Picton Mahoney Asset Management now owns 260,495 shares of the biotechnology company’s stock worth $7,723,000 after buying an additional 253,858 shares during the period. Raymond James Financial Inc. grew its position in shares of Veracyte by 418.9% in the 1st quarter. Raymond James Financial Inc. now owns 213,074 shares of the biotechnology company’s stock worth $6,318,000 after buying an additional 172,010 shares during the period. Finally, Driehaus Capital Management LLC raised its holdings in Veracyte by 14.2% in the first quarter. Driehaus Capital Management LLC now owns 1,351,370 shares of the biotechnology company’s stock worth $40,068,000 after buying an additional 167,604 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on VCYT shares. Wall Street Zen raised shares of Veracyte from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Weiss Ratings reissued a “sell (d+)” rating on shares of Veracyte in a report on Saturday, September 27th. Finally, Morgan Stanley set a $28.00 price objective on shares of Veracyte and gave the stock an “underweight” rating in a report on Friday, August 8th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.90.

Veracyte Trading Down 4.0%

Shares of VCYT opened at $34.61 on Wednesday. The firm has a market capitalization of $2.72 billion, a P/E ratio of 104.88 and a beta of 2.11. Veracyte, Inc. has a 12-month low of $22.61 and a 12-month high of $47.32. The firm has a fifty day moving average price of $30.68 and a 200-day moving average price of $29.19.

Insider Buying and Selling

In other Veracyte news, CEO Marc Stapley sold 7,667 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $30.41, for a total transaction 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 approximately $10,162,565.85. This represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Phillip G. Febbo sold 8,349 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $36.02, for a total transaction of $300,730.98. Following the sale, the insider directly owned 92,441 shares of the company’s stock, valued at approximately $3,329,724.82. The trade was a 8.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,299 shares of company stock valued at $610,799 over the last three months. 1.40% of the stock is owned by company insiders.

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.