Veracyte, Inc. $VCYT Shares Bought by Profund Advisors LLC

Profund Advisors LLC raised its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 53.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,882 shares of the biotechnology company’s stock after buying an additional 13,188 shares during the quarter. Profund Advisors LLC’s holdings in Veracyte were worth $1,744,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new stake in shares of Veracyte during the 2nd quarter worth approximately $44,000. Allworth Financial LP purchased a new position in shares of Veracyte in the second quarter valued at $50,000. Meeder Asset Management Inc. purchased a new position in shares of Veracyte in the first quarter valued at $62,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Veracyte in the second quarter valued at $62,000. Finally, GAMMA Investing LLC increased its position in Veracyte by 21.2% in the second quarter. GAMMA Investing LLC now owns 1,121 shares of the biotechnology company’s stock worth $66,000 after purchasing an additional 196 shares during the last quarter.

Insider Buying and Selling at Veracyte

In related news, insider John Leite sold 4,015 shares of Veracyte stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $40.00, for a total value of $160,600.00. Following the completion of the sale, the insider directly owned 124,329 shares in the company, valued at $4,973,160. The trade was a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Rebecca Chambers sold 3,652 shares of Veracyte stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $43.10, for a total value of $157,401.20. Following the completion of the sale, the chief financial officer owned 166,025 shares of the company’s stock, valued at $7,155,677.50. The trade was a 2.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 62,609 shares of company stock valued at $2,858,904. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

VCYT has been the topic of a number of recent research reports. Canaccord Genuity Group decreased their price target on shares of Veracyte from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday, August 3rd. Zacks Research cut shares of Veracyte from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. UBS Group raised their price objective on Veracyte from $52.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Morgan Stanley dropped their target price on Veracyte from $47.00 to $44.00 and set an “underweight” rating for the company in a report on Tuesday, August 4th. Finally, Wall Street Zen downgraded Veracyte from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.78.

Veracyte Stock Down 2.0%

VCYT stock opened at $49.00 on Tuesday. Veracyte, Inc. has a twelve month low of $29.45 and a twelve month high of $60.91. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 34.75 and a beta of 1.95. The business’s fifty day simple moving average is $44.55 and its two-hundred day simple moving average is $42.95.

About Veracyte

Veracyte, Inc is a diagnostics company that develops genomic tests to help physicians diagnose cancer, assess disease risk and guide treatment decisions. Its tests are designed to provide additional molecular information from patient samples, often helping reduce uncertainty and support more personalized care.

The company’s portfolio includes Afirma tests for thyroid nodules, Decipher tests for prostate cancer, Percepta tests for lung cancer and Envisio tests for breast cancer. Veracyte also develops and commercializes additional genomic assays intended for use across various cancer types and clinical settings.

Founded in 2008 and headquartered in South San Francisco, California, Veracyte primarily serves the U.S.