8,074 Shares in Veracyte, Inc. (NASDAQ:VCYT) Bought by Convergence Investment Partners LLC

Convergence Investment Partners LLC acquired a new position in Veracyte, Inc. (NASDAQ:VCYT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,074 shares of the biotechnology company’s stock, valued at approximately $320,000.

A number of other institutional investors have also recently made changes to their positions in the stock. KBC Group NV grew its position in shares of Veracyte by 13.7% in the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock valued at $91,000 after buying an additional 323 shares during the last quarter. Principal Securities Inc. boosted its holdings in Veracyte by 34.1% in the fourth quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock valued at $76,000 after acquiring an additional 485 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Veracyte by 21.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,778 shares of the biotechnology company’s stock valued at $94,000 after acquiring an additional 496 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Veracyte by 0.6% in the 4th quarter. Rhumbline Advisers now owns 123,324 shares of the biotechnology company’s stock valued at $4,884,000 after purchasing an additional 675 shares during the last quarter. Finally, Virtus Fund Advisers LLC boosted its stake in shares of Veracyte by 32.9% in the 3rd quarter. Virtus Fund Advisers LLC now owns 4,798 shares of the biotechnology company’s stock valued at $163,000 after purchasing an additional 1,189 shares during the last quarter.

Insider Buying and Selling

In other Veracyte news, Director Karin Eastham sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total value of $403,000.00. Following the transaction, the director now directly owns 18,497 shares of the company’s stock, valued at approximately $745,429.10. This trade represents a 35.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Rebecca Chambers sold 7,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $43.23, for a total transaction of $302,610.00. Following the completion of the transaction, the chief financial officer now directly owns 114,037 shares in the company, valued at $4,929,819.51. This trade represents a 5.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,565 shares of company stock worth $1,031,406 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Veracyte Stock Up 4.2 %

Shares of NASDAQ:VCYT opened at $42.11 on Thursday. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $47.32. The stock’s 50 day moving average is $42.11 and its 200-day moving average is $37.20. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of -280.73 and a beta of 1.71.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Wolfe Research began coverage on shares of Veracyte in a research note on Friday, November 15th. They issued an “outperform” rating and a $50.00 price objective on the stock. UBS Group upped their target price on Veracyte from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. StockNews.com lowered Veracyte from a “buy” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley upped their target price on Veracyte from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Monday, November 18th. Finally, Needham & Company LLC increased their price target on Veracyte from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

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.