AEGON ASSET MANAGEMENT UK Plc Has $8.21 Million Stock Holdings in Veracyte, Inc. $VCYT

Key Points

• AEGON ASSET MANAGEMENT UK Plc reduced its ownership in Veracyte, Inc. by 53.4%, ending with approximately 303,880 shares valued at $8.21 million.
• Several hedge funds have recently either increased or added new positions in Veracyte, with notable acquisitions from Covestor Ltd and Yorktown Management.
• Analysts have issued mixed ratings, with an overall consensus of a "Moderate Buy" and an average price target of $40.90 for Veracyte shares.

AEGON ASSET MANAGEMENT UK Plc lessened its holdings in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 53.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 303,880 shares of the biotechnology company's stock after selling 348,892 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.39% of Veracyte worth $8,205,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in VCYT. Headlands Technologies LLC acquired a new position in Veracyte in the first quarter worth about $48,000. Covestor Ltd raised its position in Veracyte by 23,936.4% in the first quarter. Covestor Ltd now owns 2,644 shares of the biotechnology company's stock worth $78,000 after purchasing an additional 2,633 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Veracyte in the first quarter worth about $173,000. Xponance Inc. raised its position in Veracyte by 5.7% in the first quarter. Xponance Inc. now owns 6,860 shares of the biotechnology company's stock worth $203,000 after purchasing an additional 370 shares in the last quarter. Finally, Yorktown Management & Research Co Inc acquired a new stake in shares of Veracyte during the first quarter worth approximately $264,000.

Insider Activity

In other news, SVP Annie Mcguire sold 2,283 shares of the stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $33.69, for a total transaction of $76,914.27. Following the sale, the senior vice president directly owned 91,599 shares of the company's stock, valued at $3,085,970.31. This represents a 2.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Phillip G. Febbo sold 8,349 shares of the firm's stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $36.02, for a total transaction of $300,730.98. Following the completion of the transaction, the insider directly owned 92,441 shares in the company, valued at approximately $3,329,724.82. The trade was a 8.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,299 shares of company stock valued at $610,799 over the last three months. 1.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Morgan Stanley set a $28.00 price objective on shares of Veracyte and gave the stock an "underweight" rating in a report on Friday, August 8th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Veracyte in a report on Wednesday, October 8th. Wall Street Zen raised shares of Veracyte from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Zacks Research raised shares of Veracyte from a "hold" rating to a "strong-buy" rating in a report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $40.90.

Veracyte Price Performance

VCYT opened at $34.78 on Thursday. Veracyte, Inc. has a one year low of $22.61 and a one year high of $47.32. The company's 50 day simple moving average is $31.95 and its 200-day simple moving average is $29.32. The stock has a market capitalization of $2.74 billion, a P/E ratio of 105.40 and a beta of 2.11.

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.

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