AMI Asset Management Corp Acquires 13,620 Shares of Veracyte, Inc. (NASDAQ:VCYT)

AMI Asset Management Corp increased its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 7.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 203,723 shares of the biotechnology company’s stock after purchasing an additional 13,620 shares during the quarter. AMI Asset Management Corp owned 0.27% of Veracyte worth $4,515,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. ARK Investment Management LLC grew its stake in shares of Veracyte by 0.8% during the 4th quarter. ARK Investment Management LLC now owns 7,655,603 shares of the biotechnology company’s stock worth $210,606,000 after acquiring an additional 62,011 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Veracyte by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 7,118,211 shares of the biotechnology company’s stock worth $195,822,000 after acquiring an additional 52,699 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Veracyte by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,372,703 shares of the biotechnology company’s stock worth $92,787,000 after acquiring an additional 161,073 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Veracyte by 7.8% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,347,436 shares of the biotechnology company’s stock valued at $74,179,000 after buying an additional 242,760 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its holdings in shares of Veracyte by 14.9% in the 4th quarter. GW&K Investment Management LLC now owns 1,415,237 shares of the biotechnology company’s stock valued at $38,933,000 after buying an additional 183,616 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on VCYT shares. Needham & Company LLC cut their price objective on Veracyte from $33.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. The Goldman Sachs Group cut their price objective on Veracyte from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.50.

Insider Transactions at Veracyte

In other news, Director Karin Eastham sold 2,500 shares of Veracyte stock in a transaction on Friday, June 7th. The stock was sold at an average price of $20.97, for a total transaction of $52,425.00. Following the completion of the sale, the director now owns 33,125 shares of the company’s stock, valued at $694,631.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Muna Bhanji sold 3,870 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $20.32, for a total value of $78,638.40. Following the completion of the transaction, the director now owns 23,105 shares of the company’s stock, valued at approximately $469,493.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Karin Eastham sold 2,500 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $20.97, for a total transaction of $52,425.00. Following the completion of the transaction, the director now directly owns 33,125 shares of the company’s stock, valued at approximately $694,631.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,909 shares of company stock valued at $163,382. 1.30% of the stock is currently owned by corporate insiders.

Veracyte Price Performance

Veracyte stock traded up $0.21 during mid-day trading on Thursday, hitting $21.47. 303,128 shares of the company’s stock traded hands, compared to its average volume of 835,118. The firm has a 50 day simple moving average of $21.37 and a two-hundred day simple moving average of $23.09. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $30.52. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -22.84 and a beta of 1.65.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Tuesday, May 7th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.17. Veracyte had a negative return on equity of 1.42% and a negative net margin of 18.16%. The company had revenue of $96.84 million during the quarter, compared to the consensus estimate of $93.35 million. During the same quarter last year, the firm earned ($0.11) earnings per share. The company’s revenue was up 17.5% on a year-over-year basis. On average, research analysts anticipate that Veracyte, Inc. will post -0.05 earnings per share for the current fiscal year.

Veracyte Profile

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.