Veracyte, Inc. (NASDAQ:VCYT) Director Sells $182,244.79 in Stock

Veracyte, Inc. (NASDAQ:VCYT) Director Evan/ Fa Jones sold 5,173 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $35.23, for a total value of $182,244.79. Following the sale, the director now owns 34,343 shares in the company, valued at approximately $1,209,903.89. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Evan/ Fa Jones also recently made the following trade(s):

• On Tuesday, August 13th, Evan/ Fa Jones sold 20,457 shares of Veracyte stock. The shares were sold at an average price of $32.20, for a total transaction of $658,715.40.
• On Friday, August 9th, Evan/ Fa Jones sold 1,032 shares of Veracyte stock. The stock was sold at an average price of $30.03, for a total transaction of $30,990.96.

Veracyte Stock Down 1.6 %

VCYT traded down $0.57 on Monday, reaching $34.26. 613,033 shares of the company traded hands, compared to its average volume of 767,024. The company has a market cap of $2.62 billion, a P/E ratio of -37.05 and a beta of 1.66. Veracyte, Inc. has a one year low of $18.61 and a one year high of $35.51. The firm has a fifty day simple moving average of $28.68 and a two-hundred day simple moving average of $23.86.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.10. The firm had revenue of $114.43 million during the quarter, compared to analyst estimates of $100.27 million. Veracyte had a positive return on equity of 1.52% and a negative net margin of 13.52%. Veracyte’s quarterly revenue was up 26.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.12) earnings per share. On average, equities analysts forecast that Veracyte, Inc. will post 0.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. 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 note on Monday, August 12th. Needham & Company LLC raised their price target on Veracyte from $31.00 to $37.00 and gave the stock 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 given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.25.

Hedge Funds Weigh In On Veracyte

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Veracyte by 3.7% in the first quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company’s stock worth $163,649,000 after acquiring an additional 266,660 shares during the period. Seven Eight Capital LP bought a new position in shares of Veracyte during the fourth quarter valued at approximately $1,118,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Veracyte by 7.8% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,347,436 shares of the biotechnology company’s stock valued at $74,179,000 after buying an additional 242,760 shares during the period. Norges Bank bought a new position in Veracyte in the fourth quarter worth approximately $11,190,000. Finally, Granahan Investment Management LLC raised its stake in Veracyte by 32.1% in the fourth quarter. Granahan Investment Management LLC now owns 503,898 shares of the biotechnology company’s stock worth $13,862,000 after buying an additional 122,574 shares in the last quarter.

About Veracyte

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.