Candriam Luxembourg S.C.A. increased its holdings in Veracyte Inc (NASDAQ:VCYT) by 79.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,391 shares of the biotechnology company’s stock after purchasing an additional 72,329 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Veracyte were worth $4,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Morgan Stanley raised its position in shares of Veracyte by 30.4% in the second quarter. Morgan Stanley now owns 59,606 shares of the biotechnology company’s stock worth $1,699,000 after buying an additional 13,901 shares in the last quarter. Royal Bank of Canada raised its position in shares of Veracyte by 1,537.7% in the second quarter. Royal Bank of Canada now owns 28,315 shares of the biotechnology company’s stock worth $807,000 after buying an additional 26,586 shares in the last quarter. Bowling Portfolio Management LLC purchased a new stake in shares of Veracyte in the third quarter worth $356,000. Tuttle Tactical Management purchased a new stake in shares of Veracyte in the third quarter worth $948,000. Finally, Strs Ohio raised its position in shares of Veracyte by 2.8% in the third quarter. Strs Ohio now owns 32,800 shares of the biotechnology company’s stock worth $787,000 after buying an additional 900 shares in the last quarter.
VCYT has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price objective on shares of Veracyte in a research report on Wednesday, December 4th. BidaskClub upgraded Veracyte from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. ValuEngine upgraded Veracyte from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Zacks Investment Research downgraded Veracyte from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Finally, Lake Street Capital reissued a “buy” rating and issued a $35.00 target price on shares of Veracyte in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.67.
VCYT opened at $26.85 on Friday. The stock has a market cap of $1.31 billion, a PE ratio of -134.24 and a beta of 1.12. Veracyte Inc has a 52 week low of $17.70 and a 52 week high of $31.18. The business’s fifty day simple moving average is $27.70 and its 200 day simple moving average is $26.28.
In related news, Director Evan/ Fa Jones sold 14,049 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $30.11, for a total value of $423,015.39. Following the transaction, the director now owns 25,000 shares of the company’s stock, valued at $752,750. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Keith Kennedy sold 7,052 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $30.08, for a total value of $212,124.16. Following the completion of the transaction, the chief financial officer now directly owns 116,755 shares in the company, valued at approximately $3,511,990.40. The disclosure for this sale can be found here. In the last three months, insiders sold 130,653 shares of company stock worth $3,672,066. 8.30% of the stock is owned by insiders.
Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.
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