Strs Ohio Makes New Investment in Veracyte, Inc. $VCYT

Key Points

• Strs Ohio acquired 28,600 shares of Veracyte, Inc. ($VCYT) valued at approximately $848,000 during the first quarter.
• CEO Marc Stapley sold 7,667 shares of Veracyte stock for over $233,000, resulting in a 2.24% decrease in their holdings.
• Veracyte's stock is currently rated as a "Moderate Buy" with a consensus target price of $40.90.

Strs Ohio acquired a new stake in Veracyte, Inc. (NASDAQ:VCYT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 28,600 shares of the biotechnology company's stock, valued at approximately $848,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of VCYT. Vanguard Group Inc. grew its stake in Veracyte by 0.6% in the first quarter. Vanguard Group Inc. now owns 8,263,643 shares of the biotechnology company's stock worth $245,017,000 after purchasing an additional 52,031 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in shares of Veracyte by 14.2% in the first quarter. Driehaus Capital Management LLC now owns 1,351,370 shares of the biotechnology company's stock valued at $40,068,000 after acquiring an additional 167,604 shares in the last quarter. GW&K Investment Management LLC lifted its stake in Veracyte by 3.7% in the first quarter. GW&K Investment Management LLC now owns 1,256,893 shares of the biotechnology company's stock worth $37,267,000 after acquiring an additional 44,826 shares during the period. Nuveen LLC purchased a new stake in Veracyte in the first quarter worth about $33,003,000. Finally, Jennison Associates LLC lifted its stake in Veracyte by 20.0% in the first quarter. Jennison Associates LLC now owns 1,000,359 shares of the biotechnology company's stock worth $29,661,000 after acquiring an additional 166,605 shares during the period.

Insider Activity at Veracyte

In other news, CEO Marc Stapley sold 7,667 shares of the company'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 owned 334,185 shares of the company's stock, valued at $10,162,565.85. This represents a 2.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wall Street Zen raised shares of Veracyte from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Morgan Stanley set a $28.00 price objective on shares of Veracyte and gave the stock an "underweight" rating in a research report on Friday, August 8th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $40.90.

Veracyte Stock Performance

Shares of VCYT traded up $0.26 during trading hours on Tuesday, hitting $34.19. 31,558 shares of the stock were exchanged, compared to its average volume of 1,142,431. Veracyte, Inc. has a 12-month low of $22.61 and a 12-month high of $47.32. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 103.66 and a beta of 2.07. The stock's 50-day moving average price is $28.44 and its two-hundred day moving average price is $28.92.

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.