Veracyte, Inc. (NASDAQ:VCYT) Shares Purchased by AMI Asset Management Corp

AMI Asset Management Corp lifted its stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 27.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,512 shares of the biotechnology company's stock after purchasing an additional 10,586 shares during the period. AMI Asset Management Corp owned about 0.06% of Veracyte worth $1,438,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Yorktown Management & Research Co Inc purchased a new position in Veracyte in the 1st quarter valued at about $264,000. Exchange Traded Concepts LLC lifted its stake in Veracyte by 32.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 91,994 shares of the biotechnology company's stock valued at $2,728,000 after buying an additional 22,565 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Veracyte by 122.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,199 shares of the biotechnology company's stock valued at $540,000 after buying an additional 10,022 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Veracyte by 1,705.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 488,061 shares of the biotechnology company's stock valued at $14,471,000 after buying an additional 461,023 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Veracyte by 4,351.0% in the 1st quarter. GAMMA Investing LLC now owns 19,273 shares of the biotechnology company's stock valued at $571,000 after buying an additional 18,840 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Guggenheim decreased their price target on shares of Veracyte from $45.00 to $37.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Needham & Company LLC decreased their price target on shares of Veracyte from $51.00 to $41.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen raised shares of Veracyte from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Craig Hallum initiated coverage on shares of Veracyte in a research note on Thursday, March 20th. They issued a "buy" rating and a $45.00 price target on the stock. Finally, Stephens reissued an "overweight" rating and issued a $45.00 target price on shares of Veracyte in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $40.90.

Veracyte Price Performance

Shares of VCYT stock traded up $0.57 during trading on Friday, hitting $27.38. 3,600,298 shares of the stock traded hands, compared to its average volume of 916,516. The firm has a market capitalization of $2.14 billion, a P/E ratio of 66.78 and a beta of 2.09. The firm's fifty day moving average price is $28.59 and its 200-day moving average price is $34.50. Veracyte, Inc. has a 52-week low of $19.73 and a 52-week high of $47.32.

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.