Veracyte, Inc. (NASDAQ:VCYT) CAO Sells $215,822.48 in Stock

Veracyte, Inc. (NASDAQ:VCYT) CAO Jonathan Wygant sold 5,032 shares of Veracyte stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $42.89, for a total value of $215,822.48. Following the transaction, the chief accounting officer now directly owns 42,313 shares in the company, valued at approximately $1,814,804.57. The trade was a 10.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Veracyte Stock Up 0.1 %

Shares of VCYT stock opened at $42.95 on Friday. The company’s fifty day simple moving average is $35.70 and its two-hundred day simple moving average is $29.03. Veracyte, Inc. has a 52 week low of $18.61 and a 52 week high of $44.16. The stock has a market cap of $3.33 billion, a P/E ratio of -286.33 and a beta of 1.67.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.16. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The company had revenue of $115.86 million for the quarter, compared to the consensus estimate of $109.81 million. During the same period in the previous year, the business earned ($0.03) earnings per share. The firm’s revenue for the quarter was up 28.6% on a year-over-year basis. On average, analysts anticipate that Veracyte, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Trading of Veracyte

Hedge funds have recently modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of Veracyte by 2,331.6% in the second quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 1,329 shares in the last quarter. CWM LLC lifted its position in Veracyte by 168.3% during the second quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 951 shares during the last quarter. Castleview Partners LLC purchased a new position in shares of Veracyte in the 3rd quarter worth $87,000. Values First Advisors Inc. bought a new stake in shares of Veracyte in the 3rd quarter worth about $91,000. Finally, KBC Group NV raised its position in shares of Veracyte by 13.7% during the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock valued at $91,000 after buying an additional 323 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. UBS Group raised their target price on shares of Veracyte from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Wolfe Research initiated coverage on shares of Veracyte in a research report on Friday, November 15th. They set an “outperform” rating and a $50.00 price objective on the stock. Needham & Company LLC upped their target price on shares of Veracyte from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Leerink Partners raised their price target on Veracyte from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Morgan Stanley upped their price objective on Veracyte from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $41.25.

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.