Veracyte, Inc. $VCYT Shares Bought by AlphaQuest LLC

AlphaQuest LLC boosted its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 1,279.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,031 shares of the biotechnology company’s stock after acquiring an additional 7,449 shares during the quarter. AlphaQuest LLC’s holdings in Veracyte were worth $217,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of VCYT. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Veracyte by 122.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,199 shares of the biotechnology company’s stock valued at $540,000 after buying an additional 10,022 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Veracyte by 54.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 13,538 shares of the biotechnology company’s stock valued at $400,000 after buying an additional 4,792 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Veracyte by 9.5% in the first 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 in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Veracyte by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 248,224 shares of the biotechnology company’s stock valued at $7,360,000 after buying an additional 4,772 shares in the last quarter. Finally, Palisades Investment Partners LLC boosted its stake in shares of Veracyte by 2.0% in the first quarter. Palisades Investment Partners LLC now owns 167,142 shares of the biotechnology company’s stock valued at $4,956,000 after buying an additional 3,333 shares in the last quarter.

Veracyte Stock Performance

VCYT opened at $36.08 on Monday. The business’s fifty day moving average is $33.50 and its two-hundred day moving average is $29.75. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 109.34 and a beta of 2.11. Veracyte, Inc. has a one year low of $22.61 and a one year high of $47.32.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Veracyte news, SVP Annie Mcguire sold 2,283 shares of the firm’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $33.69, for a total transaction of $76,914.27. Following the completion of the transaction, the senior vice president owned 91,599 shares of the company’s stock, valued at approximately $3,085,970.31. This trade represents a 2.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Marc Stapley sold 7,667 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $10,162,565.85. The trade was a 2.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 18,299 shares of company stock valued at $610,799. Corporate insiders own 1.40% of the company’s stock.

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.