Veracyte, Inc. $VCYT Shares Sold by Palisades Investment Partners LLC

Palisades Investment Partners LLC lessened its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 2.8% in the second quarter, Holdings Channel.com reports. The fund owned 162,408 shares of the biotechnology company’s stock after selling 4,734 shares during the quarter. Veracyte comprises about 1.9% of Palisades Investment Partners LLC’s holdings, making the stock its 21st biggest position. Palisades Investment Partners LLC’s holdings in Veracyte were worth $4,390,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its position in Veracyte by 54.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 13,538 shares of the biotechnology company’s stock worth $400,000 after purchasing an additional 4,792 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Veracyte by 122.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,199 shares of the biotechnology company’s stock worth $540,000 after buying an additional 10,022 shares during the period. Bank of New York Mellon Corp raised its position in shares of Veracyte by 2.0% in the 1st quarter. Bank of New York Mellon Corp now owns 248,224 shares of the biotechnology company’s stock valued at $7,360,000 after buying an additional 4,772 shares in the last quarter. Principal Financial Group Inc. increased its position in Veracyte by 9.5% in the 1st quarter. Principal Financial Group Inc. now owns 35,663 shares of the biotechnology company’s stock valued at $1,057,000 after acquiring an additional 3,103 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Veracyte by 4,351.0% during the first quarter. GAMMA Investing LLC now owns 19,273 shares of the biotechnology company’s stock worth $571,000 after acquiring an additional 18,840 shares in the last quarter.

Veracyte Trading Up 1.9%

NASDAQ VCYT opened at $33.44 on Friday. The firm’s fifty day simple moving average is $29.13 and its 200-day simple moving average is $29.01. Veracyte, Inc. has a 1-year low of $22.61 and a 1-year high of $47.32. The company has a market capitalization of $2.63 billion, a PE ratio of 101.34 and a beta of 2.07.

Analyst Ratings Changes

Several brokerages recently commented on VCYT. Morgan Stanley set a $28.00 target price on shares of Veracyte and gave the stock an “underweight” rating in a research note 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 assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.90.

Insider Activity at Veracyte

In related news, SVP Annie Mcguire sold 2,283 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $33.69, for a total transaction of $76,914.27. Following the sale, the senior vice president owned 91,599 shares of the company’s stock, valued at approximately $3,085,970.31. This represents a 2.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc Stapley sold 7,667 shares of the 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 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 ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

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.