Venturi Wealth Management LLC Makes New Investment in Veracyte, Inc. (NASDAQ:VCYT)

Venturi Wealth Management LLC acquired a new stake in shares of Veracyte, Inc. (NASDAQ:VCYT) during the fourth quarter, Holdings Channel reports. The fund acquired 2,300 shares of the biotechnology company’s stock, valued at approximately $91,000.

Other large investors have also recently modified their holdings of the company. KBC Group NV grew its position in Veracyte by 13.7% during the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock worth $91,000 after acquiring an additional 323 shares during the last quarter. Principal Securities Inc. boosted its stake in shares of Veracyte by 34.1% during the fourth quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock valued at $76,000 after purchasing an additional 485 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Veracyte by 21.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,778 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 496 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Veracyte by 0.6% in the fourth quarter. Rhumbline Advisers now owns 123,324 shares of the biotechnology company’s stock worth $4,884,000 after buying an additional 675 shares during the period. Finally, Virtus Fund Advisers LLC raised its holdings in Veracyte by 32.9% during the 3rd quarter. Virtus Fund Advisers LLC now owns 4,798 shares of the biotechnology company’s stock valued at $163,000 after buying an additional 1,189 shares during the last quarter.

Veracyte Stock Down 4.6 %

Shares of VCYT stock opened at $39.18 on Monday. The company has a 50 day moving average price of $41.96 and a 200-day moving average price of $37.53. Veracyte, Inc. has a 52 week low of $18.61 and a 52 week high of $47.32. The firm has a market capitalization of $3.04 billion, a PE ratio of -261.20 and a beta of 1.71.

Wall Street Analyst Weigh In

VCYT has been the subject of several recent analyst reports. StockNews.com downgraded shares of Veracyte from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Needham & Company LLC upped their price target on Veracyte from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Scotiabank lifted their price objective on Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $37.00 price target (down previously from $38.00) on shares of Veracyte in a research note on Thursday, December 5th. Finally, UBS Group boosted their price objective 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Insider Buying and Selling

In other 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 value of $215,822.48. Following the transaction, the chief accounting officer now directly owns 42,313 shares in the company, valued at $1,814,804.57. This trade represents a 10.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Rebecca Chambers sold 7,000 shares of the company’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 sale, the chief financial officer now owns 114,037 shares of the company’s stock, valued at approximately $4,929,819.51. This trade represents a 5.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,565 shares of company stock worth $1,031,406. 1.30% of the stock is owned by insiders.

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.