O Neil Global Advisors Inc. Makes New Investment in Veracyte, Inc. (NASDAQ:VCYT)

O Neil Global Advisors Inc. purchased a new stake in Veracyte, Inc. (NASDAQ:VCYT) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 18,955 shares of the biotechnology company’s stock, valued at approximately $751,000. Veracyte makes up approximately 0.2% of O Neil Global Advisors Inc.’s portfolio, making the stock its 29th largest holding.

Several other large investors also recently made changes to their positions in VCYT. Principal Securities Inc. boosted its position 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 worth $76,000 after buying an additional 485 shares during the period. Values First Advisors Inc. acquired a new stake in shares of Veracyte in the third quarter valued at approximately $91,000. KBC Group NV boosted its holdings in Veracyte by 13.7% during the third quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock worth $91,000 after purchasing an additional 323 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Veracyte in the fourth quarter valued at $91,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Veracyte by 21.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,778 shares of the biotechnology company’s stock valued at $94,000 after buying an additional 496 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on VCYT. StockNews.com downgraded Veracyte from a “buy” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley upped their price target 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. The Goldman Sachs Group restated a “neutral” rating and set a $37.00 price objective (down from $38.00) on shares of Veracyte in a research note on Thursday, December 5th. Scotiabank lifted their price target on Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a report on Friday, November 8th. Finally, Needham & Company LLC boosted their price target on Veracyte from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. One 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, Veracyte currently has an average rating of “Moderate Buy” and an average price target of $42.00.

Insider Buying and Selling at Veracyte

In other news, CAO Jonathan Wygant sold 956 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $43.36, for a total value of $41,452.16. Following the completion of the transaction, the chief accounting officer now owns 40,270 shares of the company’s stock, valued at approximately $1,746,107.20. This represents a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karin Eastham sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total transaction of $403,000.00. Following the completion of the sale, the director now owns 18,497 shares in the company, valued at $745,429.10. This represents a 35.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,565 shares of company stock valued at $1,031,406 in the last ninety days. 1.30% of the stock is currently owned by company insiders.

Veracyte Stock Performance

Veracyte stock opened at $41.05 on Friday. The stock’s fifty day moving average price is $42.04 and its two-hundred day moving average price is $37.22. Veracyte, Inc. has a one year low of $18.61 and a one year high of $47.32.

Veracyte Company 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.