AMI Asset Management Corp Has $1.44 Million Stock Holdings in Veracyte, Inc. (NASDAQ:VCYT)

AMI Asset Management Corp grew its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 27.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 48,512 shares of the biotechnology company’s stock after buying an additional 10,586 shares during the quarter. AMI Asset Management Corp owned approximately 0.06% of Veracyte worth $1,438,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rhumbline Advisers increased its position in Veracyte by 0.6% in the fourth quarter. Rhumbline Advisers now owns 123,324 shares of the biotechnology company’s stock worth $4,884,000 after purchasing an additional 675 shares during the period. Principal Securities Inc. increased its position in Veracyte by 34.1% in the fourth quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock worth $76,000 after purchasing an additional 485 shares during the period. Principal Financial Group Inc. increased its position in Veracyte by 6.8% in the fourth quarter. Principal Financial Group Inc. now owns 32,560 shares of the biotechnology company’s stock worth $1,289,000 after purchasing an additional 2,074 shares during the period. Ieq Capital LLC acquired a new stake in Veracyte in the fourth quarter worth about $580,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Veracyte in the fourth quarter worth about $846,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VCYT. Wall Street Zen upgraded Veracyte from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Guggenheim reduced their target price on Veracyte from $45.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Needham & Company LLC reduced their target price on Veracyte from $51.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. UBS Group reduced their target price on Veracyte from $49.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Finally, Craig Hallum started coverage on Veracyte in a report on Thursday, March 20th. They set a “buy” rating and a $45.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $40.90.

Veracyte Price Performance

NASDAQ:VCYT opened at $26.45 on Thursday. Veracyte, Inc. has a fifty-two week low of $19.73 and a fifty-two week high of $47.32. The stock has a market capitalization of $2.07 billion, a PE ratio of 64.51 and a beta of 2.09. The business’s 50-day simple moving average is $28.68 and its 200-day simple moving average is $34.61.

About Veracyte

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.