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

AMI Asset Management Corp increased its stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 27.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 about 0.06% of Veracyte worth $1,438,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in Veracyte by 49.7% during the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 237 shares during the last quarter. Arizona State Retirement System lifted its stake in Veracyte by 1.2% during the fourth quarter. Arizona State Retirement System now owns 22,276 shares of the biotechnology company's stock worth $882,000 after purchasing an additional 264 shares during the last quarter. Synovus Financial Corp lifted its stake in Veracyte by 1.2% during the fourth quarter. Synovus Financial Corp now owns 23,132 shares of the biotechnology company's stock worth $916,000 after purchasing an additional 267 shares during the last quarter. HighTower Advisors LLC lifted its stake in Veracyte by 1.9% during the fourth quarter. HighTower Advisors LLC now owns 16,630 shares of the biotechnology company's stock worth $659,000 after purchasing an additional 305 shares during the last quarter. Finally, Principal Securities Inc. lifted its stake in shares of Veracyte by 34.1% in the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company's stock valued at $76,000 after acquiring an additional 485 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on VCYT. Stephens reiterated an "overweight" rating and issued a $45.00 price target on shares of Veracyte in a research note on Wednesday, March 26th. UBS Group dropped their price target on Veracyte from $49.00 to $42.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Craig Hallum began coverage on Veracyte in a research note on Thursday, March 20th. They issued a "buy" rating and a $45.00 price target for the company. Needham & Company LLC dropped their price target on Veracyte from $51.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, Wall Street Zen cut Veracyte from a "buy" rating to a "hold" rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $40.90.

Veracyte Trading Up 2.1%

NASDAQ:VCYT traded up $0.57 during trading hours on Friday, hitting $27.38. 3,600,298 shares of the company were exchanged, compared to its average volume of 913,642. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 66.78 and a beta of 2.10. Veracyte, Inc. has a one year low of $19.73 and a one year high of $47.32. The company has a fifty day simple moving average of $28.52 and a 200 day simple moving average of $34.26.

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.