Veracyte (NASDAQ:VCYT) Sets New 12-Month High at $33.49

Veracyte, Inc. (NASDAQ:VCYT) shares reached a new 52-week high during mid-day trading on Monday . The stock 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.

Analyst Upgrades and Downgrades

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

Veracyte Stock Performance

The stock has a fifty day simple moving average of $27.44 and a two-hundred day simple moving average of $23.47. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of -35.02 and a beta of 1.66.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.10. Veracyte had a positive return on equity of 1.52% and a negative net margin of 13.52%. The company had revenue of $114.43 million for the quarter, compared to the consensus estimate of $100.27 million. During the same quarter last year, the business posted ($0.12) EPS. Veracyte’s revenue for the quarter was up 26.7% on a year-over-year basis. Equities analysts expect that Veracyte, Inc. will post 0.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Veracyte news, insider John Leite sold 1,277 shares of Veracyte stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $25.00, for a total transaction of $31,925.00. Following the transaction, the insider now directly owns 82,968 shares of the company’s stock, valued at approximately $2,074,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Karin Eastham sold 7,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $25.00, for a total value of $187,500.00. Following the transaction, the director now directly owns 33,228 shares of the company’s stock, valued at approximately $830,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Leite sold 1,277 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $25.00, for a total value of $31,925.00. Following the completion of the transaction, the insider now directly owns 82,968 shares in the company, valued at $2,074,200. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,745 shares of company stock valued at $1,217,296. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in VCYT. Charles Schwab Investment Management Inc. lifted its stake in shares of Veracyte by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 698,418 shares of the biotechnology company’s stock valued at $19,213,000 after purchasing an additional 14,066 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Veracyte by 5.0% in 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 purchasing an additional 161,073 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Veracyte by 14.7% in the 4th quarter. Principal Financial Group Inc. now owns 51,231 shares of the biotechnology company’s stock valued at $1,409,000 after purchasing an additional 6,565 shares during the period. Norges Bank acquired a new position in shares of Veracyte in the 4th quarter valued at about $11,190,000. Finally, Corient Private Wealth LLC lifted its stake in shares of Veracyte by 6.2% in the 4th quarter. Corient Private Wealth LLC now owns 63,778 shares of the biotechnology company’s stock valued at $1,755,000 after purchasing an additional 3,696 shares during the period.

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.