Great Lakes Advisors LLC Sells 21,107 Shares of Veracyte, Inc. $VCYT

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 lessened its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 23.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 approximately 0.09% of Veracyte worth $2,046,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of VCYT. Nuveen LLC purchased a new position in Veracyte during the 1st quarter valued at about $33,003,000. Point72 Asset Management L.P. purchased a new position in Veracyte during the 4th quarter valued at about $20,717,000. Assenagon Asset Management S.A. grew its stake in Veracyte by 1,705.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 488,061 shares of the biotechnology company's stock valued at $14,471,000 after acquiring an additional 461,023 shares in the last quarter. Picton Mahoney Asset Management grew its stake in Veracyte by 3,824.9% during the 1st quarter. Picton Mahoney Asset Management now owns 260,495 shares of the biotechnology company's stock valued at $7,723,000 after acquiring an additional 253,858 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Veracyte during the 4th quarter valued at about $6,990,000.

Insiders Place Their Bets

In other Veracyte 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 sale, the chief executive officer directly owned 334,185 shares in the company, valued at $10,162,565.85. This represents a 2.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Veracyte Price Performance

Shares of NASDAQ VCYT traded down $0.06 during trading hours on Tuesday, reaching $31.81. The stock had a trading volume of 63,468 shares, compared to its average volume of 1,140,181. The business's fifty day moving average is $27.83 and its two-hundred day moving average is $28.92. Veracyte, Inc. has a twelve month low of $22.61 and a twelve month high of $47.32. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 96.39 and a beta of 2.07.

About Veracyte

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.