Truist Financial Corp Has $298,000 Holdings in Veracyte, Inc. $VCYT

Truist Financial Corp lessened its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 4.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,007 shares of the biotechnology company’s stock after selling 492 shares during the period. Truist Financial Corp’s holdings in Veracyte were worth $298,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in VCYT. Headlands Technologies LLC bought a new position in Veracyte during the 1st quarter worth approximately $48,000. Covestor Ltd raised its holdings in Veracyte by 23,936.4% during the 1st quarter. Covestor Ltd now owns 2,644 shares of the biotechnology company’s stock worth $78,000 after purchasing an additional 2,633 shares during the last quarter. Neo Ivy Capital Management bought a new position in Veracyte during the 1st quarter worth approximately $173,000. Xponance Inc. raised its holdings in Veracyte by 5.7% during the 1st quarter. Xponance Inc. now owns 6,860 shares of the biotechnology company’s stock worth $203,000 after purchasing an additional 370 shares during the last quarter. Finally, Yorktown Management & Research Co Inc bought a new position in Veracyte during the 1st quarter worth approximately $264,000.

Analysts Set New Price Targets

Several research firms have issued reports on VCYT. Weiss Ratings restated a “sell (d+)” rating on shares of Veracyte in a report on Wednesday, October 8th. Morgan Stanley set a $28.00 price target on shares of Veracyte and gave the stock an “underweight” rating in a report on Friday, August 8th. Wall Street Zen upgraded shares of Veracyte from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Finally, Zacks Research raised shares of Veracyte from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Insider Activity

In other Veracyte 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 directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Annie Mcguire sold 2,283 shares of the stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $33.69, for a total transaction of $76,914.27. Following the transaction, the senior vice president owned 91,599 shares of the company’s stock, valued at $3,085,970.31. This represents a 2.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,299 shares of company stock valued at $610,799 in the last three months. Company insiders own 1.40% of the company’s stock.

Veracyte Stock Performance

NASDAQ:VCYT opened at $35.83 on Friday. Veracyte, Inc. has a 52 week low of $22.61 and a 52 week high of $47.32. The firm has a 50-day moving average price of $32.28 and a two-hundred day moving average price of $29.41. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 108.58 and a beta of 2.11.

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.