Venturi Wealth Management LLC Buys New Position in Veracyte, Inc. (NASDAQ:VCYT)

Venturi Wealth Management LLC bought a new position in shares of Veracyte, Inc. (NASDAQ:VCYT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,300 shares of the biotechnology company’s stock, valued at approximately $91,000.

A number of other hedge funds have also added to or reduced their stakes in the business. HighTower Advisors LLC bought a new stake in shares of Veracyte during the third quarter valued at approximately $554,000. Eventide Asset Management LLC increased its position in shares of Veracyte by 20.2% during the third quarter. Eventide Asset Management LLC now owns 677,883 shares of the biotechnology company’s stock worth $23,075,000 after acquiring an additional 113,883 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Veracyte in the 3rd quarter worth about $574,000. Neo Ivy Capital Management bought a new position in Veracyte in the 3rd quarter valued at about $820,000. Finally, Intech Investment Management LLC acquired a new position in Veracyte during the 3rd quarter valued at about $723,000.

Insider Transactions at Veracyte

In other news, Director Karin Eastham sold 10,000 shares of Veracyte stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total value of $403,000.00. Following the completion of the transaction, the director now owns 18,497 shares in the company, valued at $745,429.10. This trade represents a 35.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jonathan Wygant sold 956 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $43.36, for a total transaction of $41,452.16. Following the sale, the chief accounting officer now owns 40,270 shares in the company, valued at $1,746,107.20. The trade was a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,565 shares of company stock worth $1,031,406. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wolfe Research assumed coverage on Veracyte in a report on Friday, November 15th. They issued an “outperform” rating and a $50.00 target price on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $37.00 price objective (down from $38.00) on shares of Veracyte in a report on Thursday, December 5th. Needham & Company LLC raised their price target on shares of Veracyte from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. StockNews.com downgraded shares of Veracyte from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Finally, UBS Group increased their price objective on shares of Veracyte from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Veracyte Trading Down 4.6 %

NASDAQ:VCYT opened at $39.18 on Monday. Veracyte, Inc. has a 12 month low of $18.61 and a 12 month high of $47.32. The firm’s 50 day moving average is $41.96 and its 200 day moving average is $37.53. The stock has a market capitalization of $3.04 billion, a PE ratio of -261.20 and a beta of 1.71.

Veracyte 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.