Aberdeen Group plc Sells 19,821 Shares of Veracyte, Inc. $VCYT

Aberdeen Group plc lessened its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 10.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 162,102 shares of the biotechnology company’s stock after selling 19,821 shares during the quarter. Aberdeen Group plc owned 0.21% of Veracyte worth $5,565,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in VCYT. First Horizon Corp bought a new position in Veracyte in the 3rd quarter valued at $31,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Veracyte in the 2nd quarter valued at $25,000. Osaic Holdings Inc. lifted its holdings in shares of Veracyte by 289.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 893 shares in the last quarter. Headlands Technologies LLC raised its holdings in shares of Veracyte by 74.8% during the second quarter. Headlands Technologies LLC now owns 2,824 shares of the biotechnology company’s stock worth $76,000 after acquiring an additional 1,208 shares during the period. Finally, Pacer Advisors Inc. bought a new position in shares of Veracyte during the third quarter worth about $107,000.

Analyst Upgrades and Downgrades

VCYT has been the topic of a number of recent analyst reports. UBS Group restated a “buy” rating on shares of Veracyte in a report on Monday, January 12th. Needham & Company LLC increased their price objective on shares of Veracyte from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Zacks Research raised shares of Veracyte from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Canaccord Genuity Group upped their price objective on Veracyte from $40.00 to $43.00 and gave the company a “hold” rating in a research note on Wednesday, November 5th. Finally, Guggenheim raised their price objective on Veracyte from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $46.14.

Veracyte Stock Performance

Shares of NASDAQ VCYT opened at $35.63 on Friday. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 93.77 and a beta of 1.91. The firm’s 50-day simple moving average is $40.47 and its 200 day simple moving average is $37.49. Veracyte, Inc. has a fifty-two week low of $22.61 and a fifty-two week high of $50.71.

Insider Buying and Selling at Veracyte

In other Veracyte news, Director Karin Eastham sold 20,000 shares of the company’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $45.45, for a total value of $909,000.00. Following the completion of the sale, the director directly owned 13,554 shares of the company’s stock, valued at approximately $616,029.30. This represents a 59.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Leite sold 2,808 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $50.00, for a total value of $140,400.00. Following the completion of the transaction, the insider owned 86,291 shares in the company, valued at $4,314,550. The trade was a 3.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 58,299 shares of company stock valued at $2,679,156 in the last quarter. 1.40% of the stock is owned by company insiders.

Veracyte Company Profile

Veracyte, Inc is a genomic diagnostics company focused on improving diagnostic accuracy and patient care through advanced molecular testing. Founded in 2008 and headquartered in South San Francisco, California, the company develops and commercializes minimally invasive genomic tests that aid in the diagnosis of thyroid, lung and other diseases. Veracyte’s proprietary platform analyzes gene expression patterns in clinical samples to help physicians make more informed treatment decisions, reducing unnecessary surgeries and improving patient outcomes.

The company’s flagship product, the Afirma Genomic Sequencing Classifier, is designed to assess thyroid nodules with indeterminate cytology, helping clinicians distinguish benign from suspicious nodules.