Voya Investment Management LLC Increases Stock Holdings in Veracyte, Inc. $VCYT

Key Points

• Voya Investment Management LLC increased its stake in Veracyte by 79.7% during the first quarter, now owning approximately 41,452 shares valued at $1,229,000.
• Insider transactions included SVP Annie Mcguire selling 2,283 shares and CEO Marc Stapley selling 7,667 shares, indicating a decrease in their ownership of the stock.
• Research analysts have set a consensus target price of $40.90 for Veracyte, with an overall rating of "Moderate Buy."

Voya Investment Management LLC boosted its stake in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 79.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,452 shares of the biotechnology company's stock after purchasing an additional 18,386 shares during the quarter. Voya Investment Management LLC owned about 0.05% of Veracyte worth $1,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of VCYT. Vident Advisory LLC purchased a new stake in Veracyte in the fourth quarter valued at approximately $364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Veracyte by 20.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,463 shares of the biotechnology company's stock valued at $6,909,000 after purchasing an additional 30,059 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in Veracyte during the fourth quarter valued at approximately $64,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Veracyte during the fourth quarter valued at approximately $6,990,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Veracyte during the fourth quarter valued at approximately $324,000.

Insider Activity

In other Veracyte news, SVP Annie Mcguire sold 2,283 shares of Veracyte stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $33.69, for a total value of $76,914.27. Following the completion of the transaction, the senior vice president directly owned 91,599 shares of the company's stock, valued at approximately $3,085,970.31. The trade was a 2.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the transaction, the chief executive officer directly owned 334,185 shares of the company's stock, valued at $10,162,565.85. This trade represents a 2.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Veracyte Stock Performance

Shares of Veracyte stock opened at $34.15 on Wednesday. The stock has a market capitalization of $2.69 billion, a PE ratio of 103.49 and a beta of 2.07. Veracyte, Inc. has a 52-week low of $22.61 and a 52-week high of $47.32. The company has a 50-day simple moving average of $28.61 and a two-hundred day simple moving average of $28.96.

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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