Veracyte, Inc. $VCYT Shares Acquired by Profund Advisors LLC

Profund Advisors LLC grew its position in Veracyte, Inc. (NASDAQ:VCYT) by 53.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 37,882 shares of the biotechnology company’s stock after purchasing an additional 13,188 shares during the period. Profund Advisors LLC’s holdings in Veracyte were worth $1,744,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in VCYT. Summit Global Investments boosted its holdings in Veracyte by 318.0% in the third quarter. Summit Global Investments now owns 20,017 shares of the biotechnology company’s stock worth $922,000 after acquiring an additional 15,228 shares in the last quarter. State of Wyoming raised its position in shares of Veracyte by 56.0% in the 3rd quarter. State of Wyoming now owns 9,661 shares of the biotechnology company’s stock valued at $445,000 after purchasing an additional 3,469 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in Veracyte by 70.2% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 20,850 shares of the biotechnology company’s stock worth $960,000 after purchasing an additional 8,600 shares in the last quarter. Choreo LLC acquired a new stake in Veracyte in the 3rd quarter worth approximately $268,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Veracyte by 15.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 14,668 shares of the biotechnology company’s stock worth $676,000 after buying an additional 1,969 shares during the last quarter.

Insider Buying and Selling

In other Veracyte news, Director Jens Holstein sold 7,500 shares of the business’s stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $50.00, for a total value of $375,000.00. Following the completion of the transaction, the director directly owned 27,471 shares in the company, valued at approximately $1,373,550. The trade was a 21.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Phillip Febbo sold 13,110 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $43.05, for a total value of $564,385.50. Following the sale, the insider owned 133,048 shares of the company’s stock, valued at $5,727,716.40. This represents a 8.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 62,609 shares of company stock worth $2,858,904 in the last three months. 1.60% of the stock is currently owned by insiders.

Veracyte Stock Performance

Shares of VCYT stock opened at $49.00 on Tuesday. The stock has a market cap of $3.94 billion, a PE ratio of 34.75 and a beta of 1.95. Veracyte, Inc. has a 1 year low of $29.45 and a 1 year high of $60.91. The stock has a fifty day moving average price of $44.55 and a 200 day moving average price of $42.95.

Analysts Set New Price Targets

Several research firms recently commented on VCYT. Morgan Stanley dropped their target price on Veracyte from $47.00 to $44.00 and set an “underweight” rating on the stock in a report on Tuesday, August 4th. Zacks Research lowered shares of Veracyte from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. Weiss Ratings downgraded shares of Veracyte from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. Needham & Company LLC reiterated a “buy” rating on shares of Veracyte in a report on Tuesday, September 15th. Finally, Piper Sandler cut their price objective on shares of Veracyte from $66.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Veracyte has an average rating of “Moderate Buy” and a consensus price target of $55.78.

About Veracyte

Veracyte, Inc is a diagnostics company that develops genomic tests to help physicians diagnose cancer, assess disease risk and guide treatment decisions. Its tests are designed to provide additional molecular information from patient samples, often helping reduce uncertainty and support more personalized care.

The company’s portfolio includes Afirma tests for thyroid nodules, Decipher tests for prostate cancer, Percepta tests for lung cancer and Envisio tests for breast cancer. Veracyte also develops and commercializes additional genomic assays intended for use across various cancer types and clinical settings.

Founded in 2008 and headquartered in South San Francisco, California, Veracyte primarily serves the U.S.