Inspire Investing LLC Has $390,000 Stake in Veracyte, Inc. $VCYT

Inspire Investing LLC raised its position in Veracyte, Inc. (NASDAQ:VCYT) by 24.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,424 shares of the biotechnology company’s stock after purchasing an additional 2,833 shares during the quarter. Inspire Investing LLC’s holdings in Veracyte were worth $390,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Xponance Inc. increased its position in Veracyte by 5.7% during the first quarter. Xponance Inc. now owns 6,860 shares of the biotechnology company’s stock worth $203,000 after buying an additional 370 shares during the last quarter. Blair William & Co. IL increased its position in Veracyte by 3.5% during the first quarter. Blair William & Co. IL now owns 16,092 shares of the biotechnology company’s stock worth $477,000 after buying an additional 550 shares during the last quarter. Allianz Asset Management GmbH increased its position in Veracyte by 1.1% during the first quarter. Allianz Asset Management GmbH now owns 79,310 shares of the biotechnology company’s stock worth $2,352,000 after buying an additional 900 shares during the last quarter. State of Wyoming increased its position in Veracyte by 12.0% during the first quarter. State of Wyoming now owns 10,840 shares of the biotechnology company’s stock worth $321,000 after buying an additional 1,158 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Veracyte during the first quarter worth approximately $48,000.

Veracyte Stock Up 2.4%

Shares of NASDAQ:VCYT opened at $34.78 on Thursday. Veracyte, Inc. has a 12-month low of $22.61 and a 12-month high of $47.32. The stock has a market cap of $2.74 billion, a PE ratio of 105.40 and a beta of 2.11. The business has a 50 day moving average of $31.95 and a 200-day moving average of $29.32.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on VCYT. Zacks Research raised Veracyte from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Morgan Stanley set a $28.00 price target on Veracyte and gave the stock an “underweight” rating in a research report on Friday, August 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of Veracyte in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised Veracyte from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Veracyte has an average rating of “Moderate Buy” and an average price target of $40.90.

Insider Transactions at Veracyte

In related news, CEO Marc Stapley sold 7,667 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $30.41, for a total value of $233,153.47. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Phillip G. Febbo sold 8,349 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $36.02, for a total value of $300,730.98. Following the completion of the sale, the insider owned 92,441 shares of the company’s stock, valued at approximately $3,329,724.82. This trade represents a 8.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,299 shares of company stock worth $610,799 over the last quarter. Company insiders own 1.40% of the company’s stock.

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.