Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp lessened its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 43.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,926 shares of the biotechnology company’s stock after selling 28,956 shares during the period. AMI Asset Management Corp’s holdings in Veracyte were worth $1,502,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Veracyte in the second quarter valued at $58,000. Castleview Partners LLC acquired a new position in Veracyte during the 3rd quarter worth $87,000. Values First Advisors Inc. purchased a new stake in Veracyte during the 3rd quarter worth about $91,000. KBC Group NV raised its position in Veracyte by 13.7% in the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 323 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 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 period.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Guggenheim began coverage on shares of Veracyte in a research note on Thursday, October 10th. They issued a “buy” rating and a $40.00 price target for the company. Morgan Stanley lifted their price objective 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. Leerink Partners boosted their target price on shares of Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Wolfe Research initiated coverage on Veracyte in a research note on Friday, November 15th. They issued an “outperform” rating and a $50.00 price target on the stock. Finally, Scotiabank upped 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Veracyte currently has a consensus rating of “Moderate Buy” and an average target price of $41.13.

Veracyte Stock Performance

Shares of VCYT stock opened at $40.58 on Tuesday. The stock’s 50-day moving average is $41.33 and its two-hundred day moving average is $34.23. Veracyte, Inc. has a 1 year low of $18.61 and a 1 year high of $46.00. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of -270.53 and a beta of 1.71.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.03 by $0.16. The company had revenue of $115.86 million for the quarter, compared to analyst estimates of $109.81 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The firm’s revenue was up 28.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) earnings per share. As a group, research analysts predict that Veracyte, Inc. will post 0.38 EPS for the current year.

Insiders Place Their Bets

In other Veracyte news, CAO Jonathan Wygant sold 5,032 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $42.89, for a total transaction of $215,822.48. Following the completion of the sale, the chief accounting officer now directly owns 42,313 shares of the company’s stock, valued at approximately $1,814,804.57. This trade represents a 10.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rebecca Chambers sold 7,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 114,037 shares in the company, valued at approximately $4,929,819.51. The trade was a 5.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,038 shares of company stock valued at $1,008,297. Insiders own 1.30% of the company’s stock.

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.