AMI Asset Management Corp Sells 8,580 Shares of Veracyte, Inc. $VCYT

AMI Asset Management Corp decreased its position in Veracyte, Inc. (NASDAQ:VCYT) by 17.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,932 shares of the biotechnology company’s stock after selling 8,580 shares during the quarter. AMI Asset Management Corp owned approximately 0.05% of Veracyte worth $1,079,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Veracyte by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 8,263,643 shares of the biotechnology company’s stock worth $245,017,000 after acquiring an additional 52,031 shares in the last quarter. Driehaus Capital Management LLC grew its stake in shares of Veracyte by 14.2% in the 1st quarter. Driehaus Capital Management LLC now owns 1,351,370 shares of the biotechnology company’s stock worth $40,068,000 after acquiring an additional 167,604 shares in the last quarter. GW&K Investment Management LLC grew its stake in shares of Veracyte by 3.7% in the 1st quarter. GW&K Investment Management LLC now owns 1,256,893 shares of the biotechnology company’s stock worth $37,267,000 after acquiring an additional 44,826 shares in the last quarter. Nuveen LLC bought a new stake in shares of Veracyte in the 1st quarter worth $33,003,000. Finally, Jennison Associates LLC grew its stake in shares of Veracyte by 20.0% in the 1st quarter. Jennison Associates LLC now owns 1,000,359 shares of the biotechnology company’s stock worth $29,661,000 after acquiring an additional 166,605 shares in the last quarter.

Analysts Set New Price Targets

Several research firms recently weighed in on VCYT. Morgan Stanley set a $28.00 price target on shares of Veracyte and gave the company an “underweight” rating in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Veracyte from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.90.

Insider Activity

In other Veracyte news, CEO Marc Stapley sold 7,667 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $30.41, for a total transaction of $233,153.47. Following the sale, the chief executive officer directly owned 334,185 shares of the company’s stock, valued at $10,162,565.85. This represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Annie Mcguire sold 2,283 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $33.69, for a total transaction of $76,914.27. Following the sale, the senior vice president directly owned 91,599 shares in the company, valued at approximately $3,085,970.31. This trade represents a 2.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Veracyte Stock Up 5.5%

NASDAQ VCYT opened at $36.21 on Thursday. The company has a market cap of $2.85 billion, a PE ratio of 109.73 and a beta of 2.11. Veracyte, Inc. has a 52 week low of $22.61 and a 52 week high of $47.32. The firm’s 50-day simple moving average is $29.80 and its two-hundred day simple moving average is $29.10.

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.