Thrivent Financial for Lutherans Makes New Investment in Veracyte, Inc. $VCYT

Thrivent Financial for Lutherans bought a new stake in shares of Veracyte, Inc. (NASDAQ:VCYT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 56,756 shares of the biotechnology company’s stock, valued at approximately $1,948,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. First Horizon Corp acquired a new position in Veracyte during the 3rd quarter valued at approximately $31,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Veracyte in the second quarter valued at $25,000. Osaic Holdings Inc. boosted its holdings in shares of Veracyte by 289.9% during the second quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 893 shares during the period. Headlands Technologies LLC boosted its holdings in shares of Veracyte by 74.8% during the second quarter. Headlands Technologies LLC now owns 2,824 shares of the biotechnology company’s stock valued at $76,000 after acquiring an additional 1,208 shares during the period. Finally, Pacer Advisors Inc. bought a new position in shares of Veracyte during the third quarter worth about $107,000.

Veracyte Trading Down 2.8%

VCYT stock opened at $35.99 on Thursday. The firm’s 50-day moving average is $41.62 and its two-hundred day moving average is $37.01. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 94.71 and a beta of 1.91. Veracyte, Inc. has a 52 week low of $22.61 and a 52 week high of $50.71.

Insider Activity

In other news, CEO Marc Stapley sold 7,668 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $47.09, for a total value of $361,086.12. Following the sale, the chief executive officer owned 318,603 shares of the company’s stock, valued at approximately $15,003,015.27. The trade was a 2.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Annie Mcguire sold 10,739 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $43.13, for a total value of $463,173.07. Following the completion of the sale, the senior vice president owned 67,760 shares of the company’s stock, valued at approximately $2,922,488.80. This trade represents a 13.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 68,299 shares of company stock valued at $3,102,756 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on VCYT shares. Zacks Research downgraded shares of Veracyte from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 13th. Morgan Stanley raised their price target on shares of Veracyte from $40.00 to $48.00 and gave the company an “underweight” rating in a research note on Monday, December 1st. UBS Group reiterated a “buy” rating on shares of Veracyte in a research report on Monday, January 12th. Needham & Company LLC increased their price objective on Veracyte from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, Canaccord Genuity Group lifted their target price on Veracyte from $40.00 to $43.00 and gave the company a “hold” rating in a research note on Wednesday, November 5th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Veracyte currently has a consensus rating of “Hold” and a consensus target price of $46.14.

About Veracyte

Veracyte, Inc is a genomic diagnostics company focused on improving diagnostic accuracy and patient care through advanced molecular testing. Founded in 2008 and headquartered in South San Francisco, California, the company develops and commercializes minimally invasive genomic tests that aid in the diagnosis of thyroid, lung and other diseases. Veracyte’s proprietary platform analyzes gene expression patterns in clinical samples to help physicians make more informed treatment decisions, reducing unnecessary surgeries and improving patient outcomes.

The company’s flagship product, the Afirma Genomic Sequencing Classifier, is designed to assess thyroid nodules with indeterminate cytology, helping clinicians distinguish benign from suspicious nodules.