Amova Asset Management Americas Inc. Has $52.96 Million Position in Veracyte, Inc. $VCYT

Amova Asset Management Americas Inc. decreased its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 15.1% in the fourth quarter, Holdings Channel reports. The firm owned 1,257,898 shares of the biotechnology company’s stock after selling 224,185 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in Veracyte were worth $52,958,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in VCYT. Torren Management LLC acquired a new stake in shares of Veracyte during the 4th quarter worth about $37,000. Osaic Holdings Inc. increased its holdings in Veracyte by 289.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 893 shares in the last quarter. GAMMA Investing LLC increased its holdings in Veracyte by 146.4% during the 4th quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 864 shares in the last quarter. Leonteq Securities AG bought a new position in Veracyte in the 4th quarter valued at $61,000. Finally, Neo Ivy Capital Management acquired a new position in Veracyte in the third quarter worth $56,000.

Veracyte Stock Performance

Shares of NASDAQ:VCYT opened at $49.24 on Wednesday. The company has a 50 day moving average price of $38.47 and a two-hundred day moving average price of $39.20. The company has a market capitalization of $3.93 billion, a PE ratio of 45.17 and a beta of 1.98. Veracyte, Inc. has a 52 week low of $22.61 and a 52 week high of $50.71.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.18. Veracyte had a net margin of 16.25% and a return on equity of 9.07%. The company had revenue of $139.07 million during the quarter, compared to analyst estimates of $130.36 million. During the same quarter in the previous year, the business earned $0.31 EPS. The firm’s revenue was up 21.5% on a year-over-year basis. On average, sell-side analysts forecast that Veracyte, Inc. will post 1.29 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Canaccord Genuity Group lifted their price target on Veracyte from $40.00 to $42.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Guggenheim lowered their price objective on shares of Veracyte from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, March 30th. Wolfe Research assumed coverage on shares of Veracyte in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $55.00 target price for the company. Zacks Research lowered shares of Veracyte from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 12th. Finally, UBS Group raised their price target on shares of Veracyte from $48.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.57.

Insiders Place Their Bets

In related news, CAO Jonathan Wygant sold 24,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $45.40, for a total transaction of $1,089,600.00. Following the completion of the sale, the chief accounting officer directly owned 45,434 shares of the company’s stock, valued at approximately $2,062,703.60. This represents a 34.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert S. Epstein sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $44.01, for a total transaction of $440,100.00. Following the sale, the director owned 52,446 shares in the company, valued at $2,308,148.46. This trade represents a 16.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 202,967 shares of company stock worth $9,881,831 in the last three months. 1.40% of the stock is owned by corporate insiders.

About Veracyte

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.