Rice Hall James & Associates LLC Sells 31,575 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Rice Hall James & Associates LLC lessened its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 24.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 95,615 shares of the biotechnology company’s stock after selling 31,575 shares during the period. Rice Hall James & Associates LLC’s holdings in Veracyte were worth $3,786,000 at the end of the most recent quarter.

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

Veracyte Price Performance

NASDAQ VCYT opened at $40.42 on Wednesday. The company has a fifty day simple moving average of $42.19 and a 200 day simple moving average of $37.03. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $47.32.

Insider Activity at Veracyte

In other Veracyte news, 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 transaction of $215,822.48. Following the transaction, the chief accounting officer now directly owns 42,313 shares in the company, valued at approximately $1,814,804.57. This trade represents a 10.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rebecca Chambers sold 7,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $43.23, for a total value of $302,610.00. Following the transaction, the chief financial officer now owns 114,037 shares in the company, valued at approximately $4,929,819.51. This trade represents a 5.78 % 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 valued at $1,031,406. 1.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wolfe Research assumed coverage on shares of Veracyte in a research report on Friday, November 15th. They set an “outperform” rating and a $50.00 target price for the company. UBS Group increased their target price on shares of Veracyte from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley raised their price objective on shares of Veracyte from $26.00 to $28.00 and gave the stock an “underweight” rating in a research report on Monday, November 18th. StockNews.com downgraded shares of Veracyte from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Scotiabank raised their price objective on shares of Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.00.

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.