CapWealth Advisors LLC Purchases Shares of 8,229 Veracyte Inc (NASDAQ:VCYT)

CapWealth Advisors LLC purchased a new stake in shares of Veracyte Inc (NASDAQ:VCYT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 8,229 shares of the biotechnology company’s stock, valued at approximately $230,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FTB Advisors Inc. increased its position in shares of Veracyte by 80.4% during the fourth quarter. FTB Advisors Inc. now owns 996 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 444 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Veracyte by 1,433.3% in the third quarter. Tower Research Capital LLC TRC now owns 1,150 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 1,075 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Veracyte in the fourth quarter valued at approximately $82,000. Convergence Investment Partners LLC grew its holdings in shares of Veracyte by 13.3% in the third quarter. Convergence Investment Partners LLC now owns 5,918 shares of the biotechnology company’s stock valued at $142,000 after purchasing an additional 695 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of Veracyte in the fourth quarter valued at approximately $174,000.

VCYT has been the subject of a number of research reports. Lake Street Capital restated a “buy” rating and issued a $35.00 price objective on shares of Veracyte in a report on Wednesday, December 4th. BidaskClub upgraded shares of Veracyte from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. ValuEngine upgraded shares of Veracyte from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Zacks Investment Research cut shares of Veracyte from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Finally, Needham & Company LLC restated a “buy” rating and issued a $34.00 price objective on shares of Veracyte in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Veracyte currently has an average rating of “Hold” and an average target price of $32.67.

Shares of NASDAQ:VCYT opened at $26.16 on Friday. The company has a market capitalization of $1.30 billion, a PE ratio of -130.79 and a beta of 1.12. Veracyte Inc has a twelve month low of $17.70 and a twelve month high of $31.18. The firm has a 50 day simple moving average of $27.76 and a 200-day simple moving average of $26.29.

In other news, CFO Keith Kennedy sold 7,052 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $30.08, for a total transaction of $212,124.16. Following the completion of the sale, the chief financial officer now owns 116,755 shares in the company, valued at approximately $3,511,990.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Evan/ Fa Jones sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $28.50, for a total transaction of $142,500.00. Following the sale, the director now owns 25,000 shares of the company’s stock, valued at approximately $712,500. The disclosure for this sale can be found here. Insiders have sold a total of 130,653 shares of company stock valued at $3,672,066 in the last 90 days. Insiders own 8.30% of the company’s stock.

About Veracyte

Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.

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Institutional Ownership by Quarter for Veracyte (NASDAQ:VCYT)

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