John Leite Sells 5,479 Shares of Veracyte, Inc. (NASDAQ:VCYT) Stock

Veracyte, Inc. (NASDAQ:VCYT) insider John Leite sold 5,479 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $29.78, for a total transaction of $163,164.62. Following the completion of the transaction, the insider now directly owns 76,174 shares in the company, valued at $2,268,461.72. The transaction was disclosed in a document filed with the SEC, which is available through this link.

John Leite also recently made the following trade(s):

• On Tuesday, July 16th, John Leite sold 1,277 shares of Veracyte stock. The shares were sold at an average price of $25.00, for a total value of $31,925.00.

Veracyte Trading Down 4.0 %

NASDAQ VCYT opened at $28.57 on Friday. The stock has a fifty day simple moving average of $26.53 and a 200-day simple moving average of $23.25. The stock has a market cap of $2.19 billion, a PE ratio of -30.39 and a beta of 1.66. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $33.33.

Veracyte (NASDAQ:VCYT) last announced its earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.10. Veracyte had a negative net margin of 13.52% and a positive return on equity of 1.52%. The company had revenue of $114.43 million during the quarter, compared to analyst estimates of $100.27 million. During the same quarter last year, the firm posted ($0.12) earnings per share. Veracyte’s revenue was up 26.7% compared to the same quarter last year. Research analysts predict that Veracyte, Inc. will post 0.13 EPS for the current year.

Institutional Trading of Veracyte

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Veracyte by 3.7% during the first quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company’s stock worth $163,649,000 after buying an additional 266,660 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Veracyte by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,372,703 shares of the biotechnology company’s stock valued at $92,787,000 after acquiring an additional 161,073 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Veracyte by 7.8% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,347,436 shares of the biotechnology company’s stock valued at $74,179,000 after acquiring an additional 242,760 shares in the last quarter. Nikko Asset Management Americas Inc. increased its stake in Veracyte by 7.8% during the first quarter. Nikko Asset Management Americas Inc. now owns 3,347,436 shares of the biotechnology company’s stock worth $74,012,000 after purchasing an additional 242,760 shares during the period. Finally, Champlain Investment Partners LLC lifted its position in shares of Veracyte by 23.3% during the first quarter. Champlain Investment Partners LLC now owns 2,697,600 shares of the biotechnology company’s stock worth $59,779,000 after purchasing an additional 509,340 shares in the last quarter.

Analysts Set New Price Targets

VCYT has been the subject of several analyst reports. Needham & Company LLC raised their target price on Veracyte from $31.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Morgan Stanley raised their price objective on shares of Veracyte from $21.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Veracyte has an average rating of “Moderate Buy” and an average price target of $31.25.

Veracyte Company Profile

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.