D.A. Davidson & CO. Takes Position in Veracyte, Inc. (NASDAQ:VCYT)

D.A. Davidson & CO. purchased a new stake in shares of Veracyte, Inc. (NASDAQ:VCYT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 23,354 shares of the biotechnology company’s stock, valued at approximately $925,000.

Several other large investors have also recently bought and sold shares of VCYT. Principal Financial Group Inc. increased its stake in Veracyte by 6.8% in the 4th quarter. Principal Financial Group Inc. now owns 32,560 shares of the biotechnology company’s stock valued at $1,289,000 after buying an additional 2,074 shares during the period. Principal Securities Inc. grew its holdings in shares of Veracyte by 34.1% during the 4th 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 in the last quarter. Rhumbline Advisers increased its stake in shares of Veracyte by 0.6% in the fourth quarter. Rhumbline Advisers now owns 123,324 shares of the biotechnology company’s stock worth $4,884,000 after acquiring an additional 675 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Veracyte by 116.3% during the fourth quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company’s stock worth $33,017,000 after acquiring an additional 448,251 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in Veracyte by 11.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 16,433 shares of the biotechnology company’s stock valued at $651,000 after purchasing an additional 1,660 shares during the last quarter.

Insider Transactions at Veracyte

In other Veracyte news, insider John Leite sold 1,050 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $43.25, for a total value of $45,412.50. Following the completion of the sale, the insider now owns 73,810 shares of the company’s stock, valued at approximately $3,192,282.50. This represents a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jonathan Wygant sold 5,032 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $42.89, for a total value of $215,822.48. Following the sale, the chief accounting officer now directly owns 42,313 shares in the company, valued at $1,814,804.57. The trade was a 10.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,565 shares of company stock worth $1,031,406 in the last quarter. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on VCYT shares. Wolfe Research initiated coverage on Veracyte in a research note on Friday, November 15th. They set an “outperform” rating and a $50.00 price target for the company. Morgan Stanley upped their price objective on shares of Veracyte from $26.00 to $28.00 and gave the stock an “underweight” rating in a report on Monday, November 18th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $37.00 target price (down previously from $38.00) on shares of Veracyte in a research report on Thursday, December 5th. Needham & Company LLC raised their price objective on shares of Veracyte from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, Scotiabank increased their price objective on Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Veracyte Stock Down 4.6 %

VCYT stock opened at $39.18 on Monday. The company has a market cap of $3.04 billion, a P/E ratio of -261.20 and a beta of 1.71. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $47.32. The business has a fifty day moving average of $41.96 and a 200-day moving average of $37.53.

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.