VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Shares in Veracyte, Inc. $VCYT

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Veracyte, Inc. (NASDAQ:VCYT) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 11,300 shares of the biotechnology company’s stock, valued at approximately $305,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in Veracyte by 54.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,538 shares of the biotechnology company’s stock valued at $400,000 after acquiring an additional 4,792 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Veracyte by 122.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,199 shares of the biotechnology company’s stock valued at $540,000 after acquiring an additional 10,022 shares in the last quarter. Bank of New York Mellon Corp lifted its position in 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 valued at $7,360,000 after acquiring an additional 4,772 shares in the last quarter. Principal Financial Group Inc. raised its stake in Veracyte by 9.5% during the 1st quarter. Principal Financial Group Inc. now owns 35,663 shares of the biotechnology company’s stock valued at $1,057,000 after buying an additional 3,103 shares during the last quarter. Finally, Strs Ohio purchased a new stake in Veracyte during the 1st quarter valued at $848,000.

Insiders Place Their Bets

In other Veracyte news, insider Phillip G. Febbo sold 8,349 shares of the 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 owned 92,441 shares in the company, valued at approximately $3,329,724.82. This represents a 8.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Annie Mcguire sold 2,283 shares of the stock in a transaction on Friday, September 19th. The stock was sold at an average price of $33.69, for a total value of $76,914.27. Following the completion of the sale, the senior vice president owned 91,599 shares of the company’s stock, valued at $3,085,970.31. The trade was a 2.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,299 shares of company stock worth $610,799. Corporate insiders own 1.40% of the company’s stock.

Veracyte Price Performance

NASDAQ:VCYT opened at $36.73 on Monday. Veracyte, Inc. has a one year low of $22.61 and a one year high of $47.32. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 111.31 and a beta of 2.11. The business has a fifty day moving average price of $32.92 and a 200-day moving average price of $29.63.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on VCYT shares. Morgan Stanley set a $28.00 target price on shares of Veracyte and gave the company an “underweight” rating in a research note on Friday, August 8th. Wall Street Zen upgraded shares of Veracyte from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Zacks Research upgraded shares of Veracyte from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Veracyte in a research note on Friday. Finally, Canaccord Genuity Group started coverage on shares of Veracyte in a research note on Monday, October 20th. They set a “hold” rating and a $40.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.90.

Veracyte Company 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.