AMI Asset Management Corp Lowers Stake in Veracyte, Inc. (NASDAQ:VCYT)

AMI Asset Management Corp lessened its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 43.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Veracyte in the second quarter valued at approximately $58,000. Castleview Partners LLC acquired a new position in Veracyte during the third quarter worth $87,000. Values First Advisors Inc. purchased a new position in Veracyte during the third quarter valued at $91,000. KBC Group NV grew its position in shares of Veracyte by 13.7% in the third 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 during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Veracyte by 21.7% during 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 in the last quarter.

Veracyte Price Performance

Shares of VCYT stock opened at $40.58 on Tuesday. The company has a market capitalization of $3.14 billion, a PE ratio of -270.53 and a beta of 1.71. The firm’s 50-day moving average is $41.33 and its two-hundred day moving average is $34.23. Veracyte, Inc. has a 12 month low of $18.61 and a 12 month high of $46.00.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.16. The firm had revenue of $115.86 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 28.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.03) earnings per share. Sell-side analysts forecast that Veracyte, Inc. will post 0.38 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Morgan Stanley raised their price target 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. Wolfe Research began 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. Needham & Company LLC raised their price objective on Veracyte from $37.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, November 7th. StockNews.com raised shares of Veracyte from a “hold” rating to a “buy” rating in a research note on Friday. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $37.00 target price (down from $38.00) on shares of Veracyte in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Veracyte presently has an average rating of “Moderate Buy” and an average price target of $41.13.

Insider Transactions at Veracyte

In other news, CFO Rebecca Chambers sold 7,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $43.23, for a total transaction 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 $4,929,819.51. This trade represents a 5.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Karin Eastham sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total value 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. In the last ninety days, insiders sold 24,038 shares of company stock worth $1,008,297. 1.30% of the stock is currently owned by company 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.