Amova Asset Management Americas Inc. Has $33.63 Million Holdings in Veracyte, Inc. $VCYT

Amova Asset Management Americas Inc. trimmed its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 16.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,045,047 shares of the biotechnology company’s stock after selling 212,851 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in Veracyte were worth $33,630,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of VCYT. Westview Management dba Westview Investment Advisors acquired a new position in Veracyte during the 4th quarter worth $1,376,000. JPMorgan Chase & Co. increased its stake in shares of Veracyte by 54.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 518,850 shares of the biotechnology company’s stock valued at $17,812,000 after buying an additional 181,872 shares during the period. AEGON ASSET MANAGEMENT UK Plc increased its stake in shares of Veracyte by 19.5% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 489,418 shares of the biotechnology company’s stock valued at $20,604,000 after buying an additional 79,817 shares during the period. William Blair Investment Management LLC lifted its stake in shares of Veracyte by 16.6% during the fourth quarter. William Blair Investment Management LLC now owns 790,425 shares of the biotechnology company’s stock valued at $33,277,000 after acquiring an additional 112,516 shares during the period. Finally, Corient Private Wealth LLC acquired a new stake in shares of Veracyte during the 4th quarter worth approximately $5,475,000.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Veracyte in a research note on Monday, April 13th. They set a “buy” rating and a $45.00 price target for the company. Canaccord Genuity Group raised their price objective on shares of Veracyte from $42.00 to $60.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Zacks Research lowered shares of Veracyte from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Morgan Stanley increased their price target on Veracyte from $37.00 to $47.00 and gave the company an “underweight” rating in a research note on Thursday, July 9th. Finally, Needham & Company LLC raised their price target on Veracyte from $48.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.88.

Insider Buying and Selling

In other news, Director Karin Eastham sold 3,729 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $52.89, for a total transaction of $197,226.81. Following the sale, the director owned 15,097 shares of the company’s stock, valued at $798,480.33. This trade represents a 19.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Marc Stapley sold 138,051 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $50.12, for a total transaction of $6,919,116.12. Following the sale, the chief executive officer owned 440,494 shares in the company, valued at $22,077,559.28. This trade represents a 23.86% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 206,696 shares of company stock valued at $10,079,058. 1.60% of the stock is owned by company insiders.

Veracyte Stock Performance

Shares of NASDAQ:VCYT opened at $57.26 on Tuesday. The company has a 50 day moving average price of $51.09 and a two-hundred day moving average price of $41.50. The company has a market capitalization of $4.57 billion, a PE ratio of 52.53 and a beta of 1.93. Veracyte, Inc. has a 52 week low of $22.92 and a 52 week high of $60.91.

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 1.27 earnings per share for the current year.

Veracyte 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.