Veracyte, Inc. $VCYT Stock Holdings Increased by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its stake in Veracyte, Inc. (NASDAQ:VCYT) by 53.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 134,097 shares of the biotechnology company’s stock after purchasing an additional 46,573 shares during the quarter. Allianz Asset Management GmbH owned about 0.17% of Veracyte worth $4,604,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VCYT. Arizona State Retirement System boosted its stake in Veracyte by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 23,158 shares of the biotechnology company’s stock valued at $795,000 after purchasing an additional 419 shares during the period. California State Teachers Retirement System boosted its position in shares of Veracyte by 0.8% in the second quarter. California State Teachers Retirement System now owns 71,095 shares of the biotechnology company’s stock valued at $1,922,000 after acquiring an additional 566 shares during the period. Police & Firemen s Retirement System of New Jersey grew its stake in shares of Veracyte by 4.6% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 17,991 shares of the biotechnology company’s stock worth $486,000 after acquiring an additional 790 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Veracyte by 4.0% during the second quarter. PNC Financial Services Group Inc. now owns 22,732 shares of the biotechnology company’s stock worth $614,000 after acquiring an additional 865 shares during the period. Finally, Huntleigh Advisors Inc. raised its stake in Veracyte by 4.2% during the 2nd quarter. Huntleigh Advisors Inc. now owns 21,809 shares of the biotechnology company’s stock valued at $590,000 after purchasing an additional 876 shares during the last quarter.

Insider Buying and Selling

In related news, CFO Rebecca Chambers sold 13,278 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $46.84, for a total transaction of $621,941.52. Following the transaction, the chief financial officer directly owned 109,496 shares of the company’s stock, valued at approximately $5,128,792.64. The trade was a 10.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karin Eastham sold 20,000 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $45.45, for a total value of $909,000.00. Following the completion of the sale, the director directly owned 13,554 shares in the company, valued at $616,029.30. This trade represents a 59.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 68,299 shares of company stock worth $3,102,756 in the last 90 days. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Canaccord Genuity Group upped their price objective on shares of Veracyte from $40.00 to $43.00 and gave the company a “hold” rating in a research report on Wednesday, November 5th. Needham & Company LLC upped their price target on Veracyte from $41.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. UBS Group reissued a “buy” rating on shares of Veracyte in a report on Monday, January 12th. Wall Street Zen upgraded Veracyte from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 27th. Finally, Morgan Stanley lifted their price target on shares of Veracyte from $40.00 to $48.00 and gave the stock an “underweight” rating in a research note on Monday, December 1st. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $46.14.

Veracyte Stock Up 0.8%

Veracyte stock opened at $37.03 on Wednesday. Veracyte, Inc. has a 12-month low of $22.61 and a 12-month high of $50.71. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 97.45 and a beta of 1.91. The business’s 50-day simple moving average is $41.85 and its 200 day simple moving average is $37.02.

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.