Peregrine Asset Advisers Inc. Sells 46,910 Shares of Veracyte, Inc. (NASDAQ:VCYT)

Peregrine Asset Advisers Inc. trimmed its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 34.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,591 shares of the biotechnology company’s stock after selling 46,910 shares during the period. Veracyte comprises about 1.3% of Peregrine Asset Advisers Inc.’s portfolio, making the stock its 24th largest position. Peregrine Asset Advisers Inc. owned approximately 0.12% of Veracyte worth $3,587,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC boosted its stake in shares of Veracyte by 116.3% during the fourth quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company’s stock valued at $33,017,000 after purchasing an additional 448,251 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in Veracyte during the third quarter worth $9,498,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Veracyte by 288.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 360,871 shares of the biotechnology company’s stock valued at $12,284,000 after acquiring an additional 268,000 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Veracyte by 276.4% in the 3rd quarter. Jane Street Group LLC now owns 301,652 shares of the biotechnology company’s stock valued at $10,268,000 after acquiring an additional 221,504 shares during the period. Finally, Castleark Management LLC bought a new position in shares of Veracyte in the 3rd quarter worth $6,010,000.

Insider Activity at Veracyte

In other Veracyte news, insider John Leite sold 1,050 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $43.25, for a total value of $45,412.50. Following the sale, the insider now directly owns 73,810 shares of the company’s stock, valued at approximately $3,192,282.50. This represents a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jonathan Wygant sold 956 shares of Veracyte 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 transaction, the chief accounting officer now owns 40,270 shares of the company’s stock, valued at $1,746,107.20. The trade was a 2.32 % 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. Company insiders own 1.30% of the company’s stock.

Veracyte Stock Down 4.6 %

NASDAQ VCYT opened at $39.18 on Friday. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $47.32. The company has a fifty day simple moving average of $42.04 and a two-hundred day simple moving average of $37.22.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on VCYT shares. Wolfe Research assumed coverage on Veracyte in a research report on Friday, November 15th. They set an “outperform” rating and a $50.00 price objective on the stock. Needham & Company LLC raised their price target on shares of Veracyte from $44.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Scotiabank boosted their price objective on shares of Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. Morgan Stanley raised their target price on shares of Veracyte from $26.00 to $28.00 and gave the company an “underweight” rating in a research note on Monday, November 18th. Finally, UBS Group lifted their price target on shares of Veracyte from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

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.