Veracyte Inc (NASDAQ:VCYT) CEO Bonnie H. Anderson sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $24.51, for a total value of $196,080.00. Following the completion of the transaction, the chief executive officer now directly owns 111,028 shares in the company, valued at approximately $2,721,296.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of NASDAQ:VCYT opened at $25.13 on Friday. The company has a market capitalization of $1.22 billion, a P/E ratio of -40.53 and a beta of 1.07. Veracyte Inc has a 1 year low of $8.77 and a 1 year high of $31.18. The business’s 50 day simple moving average is $26.12 and its 200 day simple moving average is $25.13.
Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Tuesday, July 30th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.04. The business had revenue of $30.14 million for the quarter, compared to the consensus estimate of $29.20 million. Veracyte had a negative return on equity of 10.26% and a negative net margin of 11.01%. Sell-side analysts predict that Veracyte Inc will post -0.23 EPS for the current fiscal year.
Several research firms have recently commented on VCYT. BidaskClub downgraded Veracyte from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Lake Street Capital began coverage on Veracyte in a research report on Wednesday, July 31st. They issued a “buy” rating and a $35.00 target price on the stock. TheStreet raised Veracyte from a “d” rating to a “c-” rating in a research report on Thursday, August 1st. ValuEngine downgraded Veracyte from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Needham & Company LLC set a $34.00 target price on Veracyte and gave the company a “buy” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $25.06.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. grew its position in Veracyte by 43.8% during the second quarter. BlackRock Inc. now owns 3,987,802 shares of the biotechnology company’s stock worth $113,692,000 after buying an additional 1,215,062 shares in the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new stake in Veracyte during the first quarter worth approximately $86,400,000. Invesco Ltd. grew its position in Veracyte by 401.5% during the second quarter. Invesco Ltd. now owns 2,985,745 shares of the biotechnology company’s stock worth $85,124,000 after buying an additional 2,390,394 shares in the last quarter. Vanguard Group Inc. grew its position in Veracyte by 36.8% during the second quarter. Vanguard Group Inc. now owns 2,298,052 shares of the biotechnology company’s stock worth $65,517,000 after buying an additional 618,054 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. grew its position in Veracyte by 252.7% during the second quarter. Nikko Asset Management Americas Inc. now owns 2,148,248 shares of the biotechnology company’s stock worth $61,247,000 after buying an additional 1,539,114 shares in the last quarter. 99.64% of the stock is currently owned by institutional investors and hedge funds.
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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