IQ EQ FUND MANAGEMENT IRELAND Ltd Purchases 39,890 Shares of Veracyte, Inc. $VCYT

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in Veracyte, Inc. (NASDAQ:VCYT) by 130.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,494 shares of the biotechnology company’s stock after purchasing an additional 39,890 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Veracyte were worth $1,905,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of VCYT. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Veracyte by 122.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,199 shares of the biotechnology company’s stock valued at $540,000 after acquiring an additional 10,022 shares in the last quarter. Allspring Global Investments Holdings LLC boosted 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 during the last quarter. Principal Financial Group Inc. boosted its position in Veracyte by 9.5% in the first quarter. Principal Financial Group Inc. now owns 35,663 shares of the biotechnology company’s stock worth $1,057,000 after purchasing an additional 3,103 shares during the last quarter. Huntleigh Advisors Inc. lifted its position in shares of Veracyte by 11.0% during the 1st quarter. Huntleigh Advisors Inc. now owns 20,933 shares of the biotechnology company’s stock valued at $621,000 after buying an additional 2,070 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Veracyte by 2.0% during 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.

Veracyte Trading Down 1.0%

VCYT opened at $35.60 on Wednesday. Veracyte, Inc. has a 12-month low of $22.61 and a 12-month high of $47.32. The business’s fifty day simple moving average is $33.16 and its 200-day simple moving average is $29.69. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 107.88 and a beta of 2.11.

Insider Activity at Veracyte

In related news, insider Phillip G. Febbo sold 8,349 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $36.02, for a total transaction of $300,730.98. Following the sale, the insider owned 92,441 shares of the company’s stock, valued at $3,329,724.82. This trade represents a 8.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc Stapley sold 7,667 shares of the firm’s stock in a transaction dated Thursday, September 4th. The shares were 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 approximately $10,162,565.85. The trade was a 2.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,299 shares of company stock valued at $610,799 over the last quarter. 1.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on VCYT shares. Morgan Stanley set a $28.00 price target on Veracyte and gave the stock an “underweight” rating in a report on Friday, August 8th. Zacks Research raised Veracyte from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Wall Street Zen upgraded Veracyte from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Canaccord Genuity Group assumed coverage on Veracyte in a report on Monday, October 20th. They set a “hold” rating and a $40.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Veracyte in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $40.90.

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.