Parkman Healthcare Partners LLC Acquires 65,977 Shares of Veracyte, Inc. $VCYT

Key Points

• Parkman Healthcare Partners LLC increased its stake in Veracyte, Inc. by 65.8%, owning 166,278 shares valued at approximately $4.93 million.
• Veracyte has garnered a consensus rating of "Moderate Buy" from analysts, with eight analysts recommending Buy and an average target price of $40.90.
• The company's stock has a market cap of $2.55 billion and reported a one-year price range between $22.61 and $47.32.

Parkman Healthcare Partners LLC increased its stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 65.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,278 shares of the biotechnology company's stock after buying an additional 65,977 shares during the period. Parkman Healthcare Partners LLC owned 0.21% of Veracyte worth $4,930,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its stake in shares of Veracyte by 1,267.6% during the first quarter. Versant Capital Management Inc now owns 930 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 862 shares during the period. Headlands Technologies LLC bought a new stake in Veracyte during the 1st quarter worth about $48,000. GF Fund Management CO. LTD. bought a new stake in Veracyte during the 4th quarter worth about $64,000. Covestor Ltd raised its holdings in Veracyte by 23,936.4% during the 1st quarter. Covestor Ltd now owns 2,644 shares of the biotechnology company's stock worth $78,000 after purchasing an additional 2,633 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Veracyte during the 1st quarter worth about $173,000.

Insider Buying and Selling at Veracyte

In other news, CEO Marc Stapley sold 7,667 shares of Veracyte stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $30.41, for a total transaction of $233,153.47. Following the transaction, the chief executive officer owned 334,185 shares in the company, valued at $10,162,565.85. The trade was a 2.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.40% of the stock is owned by company insiders.

Veracyte Price Performance

Shares of Veracyte stock traded down $0.47 during trading on Tuesday, hitting $31.99. 746,940 shares of the company were exchanged, compared to its average volume of 1,094,946. The firm has a market capitalization of $2.52 billion, a P/E ratio of 96.94 and a beta of 2.07. Veracyte, Inc. has a 1-year low of $22.61 and a 1-year high of $47.32. The firm's fifty day moving average price is $27.50 and its 200 day moving average price is $29.08.

Analyst Ratings Changes

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

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.