Allianz Asset Management GmbH Raises Holdings in Veracyte, Inc. $VCYT

Allianz Asset Management GmbH grew its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 53.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 134,097 shares of the biotechnology company’s stock after acquiring an additional 46,573 shares during the period. Allianz Asset Management GmbH’s holdings in Veracyte were worth $4,604,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Royal Bank of Canada lifted its position in Veracyte by 23.3% during the 1st quarter. Royal Bank of Canada now owns 28,712 shares of the biotechnology company’s stock valued at $852,000 after acquiring an additional 5,435 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Veracyte by 12.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 195,793 shares of the biotechnology company’s stock worth $5,805,000 after acquiring an additional 21,330 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Veracyte by 94.7% in the first quarter. Jane Street Group LLC now owns 216,909 shares of the biotechnology company’s stock worth $6,431,000 after acquiring an additional 105,499 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Veracyte by 54.1% during the first quarter. Intech Investment Management LLC now owns 42,762 shares of the biotechnology company’s stock valued at $1,268,000 after acquiring an additional 15,017 shares in the last quarter. Finally, Aberdeen Group plc bought a new position in shares of Veracyte during the second quarter valued at $4,917,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on VCYT shares. UBS Group reiterated a “buy” rating on shares of Veracyte in a research note on Monday, January 12th. Zacks Research cut Veracyte from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 13th. Guggenheim upped their target price on shares of Veracyte from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, January 5th. Wall Street Zen raised Veracyte from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 27th. Finally, Needham & Company LLC upped their target price on shares of Veracyte from $41.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $46.14.

Insider Activity

In other Veracyte news, CEO Marc Stapley sold 7,668 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $47.09, for a total transaction of $361,086.12. Following the transaction, the chief executive officer directly owned 318,603 shares in the company, valued at $15,003,015.27. This represents a 2.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rebecca Chambers sold 13,278 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $46.84, for a total value of $621,941.52. Following the sale, the chief financial officer directly owned 109,496 shares in the company, valued at $5,128,792.64. This trade represents a 10.81% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 68,299 shares of company stock valued at $3,102,756. Company insiders own 1.40% of the company’s stock.

Veracyte Price Performance

Shares of NASDAQ:VCYT opened at $37.03 on Wednesday. The business has a 50 day simple moving average of $41.85 and a two-hundred day simple moving average of $37.02. Veracyte, Inc. has a 1 year low of $22.61 and a 1 year high of $50.71. The firm has a market capitalization of $2.93 billion, a PE ratio of 97.45 and a beta of 1.91.

Veracyte Company Profile

Veracyte, Inc is a genomic diagnostics company focused on improving diagnostic accuracy and patient care through advanced molecular testing. Founded in 2008 and headquartered in South San Francisco, California, the company develops and commercializes minimally invasive genomic tests that aid in the diagnosis of thyroid, lung and other diseases. Veracyte’s proprietary platform analyzes gene expression patterns in clinical samples to help physicians make more informed treatment decisions, reducing unnecessary surgeries and improving patient outcomes.

The company’s flagship product, the Afirma Genomic Sequencing Classifier, is designed to assess thyroid nodules with indeterminate cytology, helping clinicians distinguish benign from suspicious nodules.