Veracyte (NASDAQ:VCYT) Reaches New 1-Year High at $33.49

Veracyte, Inc. (NASDAQ:VCYT) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $33.49 and last traded at $32.89, with a volume of 101574 shares traded. The stock had previously closed at $32.92.

Analysts Set New Price Targets

Several brokerages have recently commented on VCYT. Morgan Stanley upped their target price on Veracyte from $21.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, August 12th. Needham & Company LLC upped their price objective on shares of Veracyte from $31.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. One equities 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.25.

Veracyte Stock Performance

The stock has a 50-day simple moving average of $27.94 and a 200 day simple moving average of $23.61.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $114.43 million for the quarter, compared to the consensus estimate of $100.27 million. During the same period in the previous year, the firm posted ($0.12) earnings per share. The firm’s revenue was up 26.7% on a year-over-year basis. Equities analysts predict that Veracyte, Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Transactions at Veracyte

In other Veracyte news, insider John Leite sold 5,479 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.78, for a total value of $163,164.62. Following the transaction, the insider now owns 76,174 shares in the company, valued at $2,268,461.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Evan/ Fa Jones sold 20,457 shares of Veracyte stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $32.20, for a total value of $658,715.40. Following the completion of the sale, the director now owns 34,343 shares of the company’s stock, valued at approximately $1,105,844.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Leite sold 5,479 shares of the stock in a transaction 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 transaction, the insider now directly owns 76,174 shares in the company, valued at $2,268,461.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,745 shares of company stock valued at $1,217,296. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. lifted its position in Veracyte by 2,331.6% during the 2nd quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 1,329 shares during the last quarter. CWM LLC increased its stake in shares of Veracyte by 168.3% in the second quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 951 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Veracyte during the 2nd quarter worth about $58,000. Signature Resources Capital Management LLC bought a new stake in Veracyte during the 2nd quarter valued at approximately $83,000. Finally, nVerses Capital LLC acquired a new stake in Veracyte in the 2nd quarter valued at approximately $85,000.

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.