Veracyte, Inc. $VCYT Stake Trimmed by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC reduced its stake in Veracyte, Inc. (VCYT) by 23.4% in the first quarter, now holding 69,010 shares valued at approximately $2 million.
• Several institutional investors increased their positions in Veracyte, with Parkman Healthcare Partners LLC leading with a 65.8% increase, resulting in ownership of 166,278 shares.
• Veracyte's stock is trading at $30.82, experiencing a 3.7% decline, while analysts have an average rating of "Moderate Buy" with a consensus target price of $40.90.

Great Lakes Advisors LLC cut its position in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 23.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,010 shares of the biotechnology company's stock after selling 21,107 shares during the quarter. Great Lakes Advisors LLC owned 0.09% of Veracyte worth $2,046,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in VCYT. Parkman Healthcare Partners LLC lifted its position in shares of Veracyte by 65.8% in the 1st quarter. Parkman Healthcare Partners LLC now owns 166,278 shares of the biotechnology company's stock valued at $4,930,000 after acquiring an additional 65,977 shares in the last quarter. Eventide Asset Management LLC grew its position in Veracyte by 1.0% during the 1st quarter. Eventide Asset Management LLC now owns 684,782 shares of the biotechnology company's stock worth $20,304,000 after purchasing an additional 6,899 shares in the last quarter. Royal Bank of Canada raised its stake in Veracyte by 23.3% during the 1st quarter. Royal Bank of Canada now owns 28,712 shares of the biotechnology company's stock valued at $852,000 after purchasing an additional 5,435 shares during the period. Graham Capital Management L.P. lifted its holdings in shares of Veracyte by 30.2% in the first quarter. Graham Capital Management L.P. now owns 28,363 shares of the biotechnology company's stock valued at $841,000 after purchasing an additional 6,576 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its position in shares of Veracyte by 1.1% in the first quarter. Panagora Asset Management Inc. now owns 208,184 shares of the biotechnology company's stock worth $6,173,000 after buying an additional 2,251 shares during the period.

Veracyte Trading Down 3.7%

VCYT opened at $30.82 on Thursday. The stock has a fifty day moving average price of $27.56 and a 200 day moving average price of $29.09. Veracyte, Inc. has a 1 year low of $22.61 and a 1 year high of $47.32. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 93.40 and a beta of 2.07.

Analyst Ratings Changes

VCYT has been the topic of several recent analyst reports. Wall Street Zen raised Veracyte from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Morgan Stanley set a $28.00 target price on Veracyte and gave the company an "underweight" rating in a 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 issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $40.90.

Insider Activity

In related news, CEO Marc Stapley sold 7,667 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 334,185 shares of the company's stock, valued at approximately $10,162,565.85. The trade was a 2.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by corporate insiders.

Veracyte 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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