Veracyte Inc (NASDAQ:VCYT) CEO Bonnie H. Anderson sold 11,365 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $32.24, for a total value of $366,407.60. Following the transaction, the chief executive officer now directly owns 283,572 shares in the company, valued at approximately $9,142,361.28. The transaction was disclosed in a filing with the SEC, which is available at this link.
Veracyte stock opened at $35.67 on Friday. The stock has a 50-day moving average of $27.75 and a two-hundred day moving average of $25.60. Veracyte Inc has a one year low of $13.90 and a one year high of $36.42. The stock has a market cap of $1.79 billion, a PE ratio of -56.62 and a beta of 0.84.
Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Thursday, July 30th. The biotechnology company reported ($0.22) EPS for the quarter, meeting analysts’ consensus estimates of ($0.22). The company had revenue of $20.70 million during the quarter, compared to analysts’ expectations of $17.56 million. Veracyte had a negative return on equity of 13.24% and a negative net margin of 27.49%. Equities research analysts predict that Veracyte Inc will post -0.67 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. Advisor Group Holdings Inc. acquired a new position in shares of Veracyte in the first quarter valued at about $51,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Veracyte by 34.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,674 shares of the biotechnology company’s stock worth $89,000 after acquiring an additional 938 shares during the period. Arden Trust Co acquired a new stake in Veracyte during the first quarter worth about $91,000. Strs Ohio grew its holdings in Veracyte by 10.3% in the second quarter. Strs Ohio now owns 4,300 shares of the biotechnology company’s stock valued at $111,000 after purchasing an additional 400 shares during the period. Finally, FDx Advisors Inc. acquired a new stake in Veracyte in the first quarter valued at approximately $632,000.
A number of equities research analysts recently weighed in on the company. SVB Leerink upped their price objective on Veracyte from $32.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday. Lake Street Capital upped their price objective on Veracyte from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday. BidaskClub upgraded Veracyte from a “hold” rating to a “buy” rating in a research note on Thursday, July 9th. Zacks Investment Research upgraded Veracyte from a “sell” rating to a “hold” rating in a research note on Thursday, July 16th. Finally, Needham & Company LLC increased their price target on Veracyte from $30.00 to $37.00 and gave the company a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $35.75.
Veracyte Company Profile
Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.
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