AMI Asset Management Corp Sells 19,514 Shares of Veracyte, Inc. (NASDAQ:VCYT)

AMI Asset Management Corp cut its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 22.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,882 shares of the biotechnology company's stock after selling 19,514 shares during the period. AMI Asset Management Corp owned about 0.09% of Veracyte worth $2,277,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in Veracyte by 2,331.6% during the 2nd quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company's stock worth $31,000 after buying an additional 1,329 shares during the period. CWM LLC raised its holdings in Veracyte by 168.3% during the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company's stock worth $33,000 after purchasing an additional 951 shares during the last quarter. Castleview Partners LLC bought a new position in Veracyte during the 3rd quarter worth approximately $87,000. Values First Advisors Inc. bought a new position in Veracyte during the 3rd quarter worth approximately $91,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Veracyte during the 2nd quarter worth approximately $58,000.

Insiders Place Their Bets

In related news, insider John Leite sold 5,479 shares of the business's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total value of $163,164.62. Following the transaction, the insider now directly owns 76,174 shares of the company's stock, valued at approximately $2,268,461.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider John Leite sold 5,479 shares of the business's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total value of $163,164.62. Following the transaction, the insider now directly owns 76,174 shares of the company's stock, valued at approximately $2,268,461.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Evan/ Fa Jones sold 5,173 shares of the business's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $35.23, for a total value of $182,244.79. Following the completion of the sale, the director now owns 34,343 shares in the company, valued at $1,209,903.89. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,141 shares of company stock valued at $1,180,116 in the last three months. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VCYT. Leerink Partners lifted their price objective on shares of Veracyte from $35.00 to $40.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Morgan Stanley lifted their price objective on shares of Veracyte from $21.00 to $26.00 and gave the company an "underweight" rating in a research note on Monday, August 12th. UBS Group began coverage on shares of Veracyte in a research note on Wednesday, October 16th. They issued a "buy" rating and a $43.00 price objective for the company. Needham & Company LLC lifted their price objective on shares of Veracyte from $31.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, August 28th. Finally, Guggenheim initiated coverage on shares of Veracyte in a research note on Thursday, October 10th. They issued a "buy" rating and a $40.00 price objective for the company. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.67.

Veracyte Trading Up 1.8 %

NASDAQ VCYT traded up $0.62 during mid-day trading on Wednesday, hitting $35.00. The company's stock had a trading volume of 448,742 shares, compared to its average volume of 755,887. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -37.20 and a beta of 1.67. The company's 50 day simple moving average is $32.66 and its 200 day simple moving average is $26.17. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $35.51.

Veracyte (NASDAQ:VCYT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.10. The firm had revenue of $114.43 million for the quarter, compared to the consensus estimate of $100.27 million. Veracyte had a negative net margin of 13.52% and a positive return on equity of 1.52%. The business's revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.12) EPS. As a group, research analysts forecast that Veracyte, Inc. will post 0.16 EPS for the current 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.