Nordea Investment Management AB Has $7.32 Million Stock Holdings in Veracyte, Inc. $VCYT

Nordea Investment Management AB increased its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 266,074 shares of the biotechnology company’s stock after acquiring an additional 3,162 shares during the period. Nordea Investment Management AB’s holdings in Veracyte were worth $7,322,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Headlands Technologies LLC bought a new position in Veracyte during the first quarter worth $48,000. Covestor Ltd grew its holdings in shares of Veracyte by 23,936.4% during the first quarter. Covestor Ltd now owns 2,644 shares of the biotechnology company’s stock valued at $78,000 after buying an additional 2,633 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Veracyte during the first quarter valued at about $173,000. Xponance Inc. boosted its holdings 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 purchasing an additional 370 shares during the last quarter. Finally, Yorktown Management & Research Co Inc purchased a new position in Veracyte during the first quarter worth about $264,000.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on VCYT shares. Zacks Research upgraded shares of Veracyte from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Weiss Ratings restated a “sell (d+)” rating on shares of Veracyte in a report on Wednesday, October 8th. Morgan Stanley set a $28.00 price target on shares of Veracyte and gave the stock an “underweight” rating in a report on Friday, August 8th. Canaccord Genuity Group initiated coverage on shares of Veracyte in a report on Monday. They set a “hold” rating and a $40.00 price target on the stock. Finally, Wall Street Zen raised shares of Veracyte from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.90.

Insider Activity at Veracyte

In related news, CEO Marc Stapley sold 7,667 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $30.41, for a total transaction of $233,153.47. Following the sale, the chief executive officer owned 334,185 shares of the company’s stock, valued at approximately $10,162,565.85. This represents a 2.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Annie Mcguire sold 2,283 shares of the stock in a transaction on Friday, September 19th. The stock was sold at an average price of $33.69, for a total transaction of $76,914.27. Following the completion of the transaction, the senior vice president directly owned 91,599 shares in the company, valued at $3,085,970.31. The trade was a 2.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,299 shares of company stock worth $610,799. 1.40% of the stock is owned by corporate insiders.

Veracyte Stock Up 2.3%

VCYT opened at $36.65 on Tuesday. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 111.06 and a beta of 2.11. Veracyte, Inc. has a twelve month low of $22.61 and a twelve month high of $47.32. The company’s 50-day moving average price is $32.45 and its two-hundred day moving average price is $29.46.

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.