Amova Asset Management Americas Inc. Sells 165,094 Shares of Veracyte, Inc. $VCYT

Amova Asset Management Americas Inc. decreased its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 10.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,482,083 shares of the biotechnology company’s stock after selling 165,094 shares during the quarter. Amova Asset Management Americas Inc. owned 1.87% of Veracyte worth $50,880,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in VCYT. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Veracyte during the 2nd quarter valued at $25,000. First Horizon Corp purchased a new stake in Veracyte during the third quarter valued at $31,000. Osaic Holdings Inc. lifted its holdings in Veracyte by 289.9% in the second quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 893 shares during the period. Headlands Technologies LLC boosted its position in Veracyte by 74.8% in the second quarter. Headlands Technologies LLC now owns 2,824 shares of the biotechnology company’s stock worth $76,000 after purchasing an additional 1,208 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new stake in shares of Veracyte during the 3rd quarter valued at about $107,000.

Insider Buying and Selling at Veracyte

In related news, SVP Annie Mcguire sold 10,739 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $43.13, for a total transaction of $463,173.07. Following the completion of the transaction, the senior vice president directly owned 67,760 shares of the company’s stock, valued at approximately $2,922,488.80. This represents a 13.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karin Eastham sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $45.45, for a total value of $909,000.00. Following the transaction, the director owned 13,554 shares of the company’s stock, valued at $616,029.30. This represents a 59.61% decrease in their position. The SEC filing for this sale provides additional information. 1.40% of the stock is currently owned by insiders.

Veracyte Stock Up 3.4%

NASDAQ VCYT opened at $36.27 on Thursday. Veracyte, Inc. has a twelve month low of $22.61 and a twelve month high of $50.71. The business has a 50-day moving average price of $39.42 and a 200-day moving average price of $38.02. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 43.70 and a beta of 1.91.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Wednesday, February 25th. The biotechnology company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.12. Veracyte had a return on equity of 8.05% and a net margin of 12.83%.The company had revenue of $140.64 million for the quarter, compared to analysts’ expectations of $135.79 million. During the same period in the previous year, the firm earned $0.06 EPS. The firm’s revenue was up 18.5% compared to the same quarter last year. Research analysts expect that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on VCYT. Wall Street Zen raised shares of Veracyte from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 27th. Guggenheim upped their price objective on Veracyte from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. Canaccord Genuity Group raised their target price on Veracyte from $40.00 to $43.00 and gave the stock a “hold” 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. Finally, Needham & Company LLC upped their price target on Veracyte from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Veracyte currently has an average rating of “Moderate Buy” and a consensus target price of $46.71.

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.