Insider Selling: Veracyte, Inc. (NASDAQ:VCYT) Director Sells 5,000 Shares of Stock

Veracyte, Inc. (NASDAQ:VCYT) Director Jens Holstein sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $29.00, for a total transaction of $145,000.00. Following the completion of the transaction, the director now directly owns 27,878 shares of the company’s stock, valued at approximately $808,462. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Veracyte Price Performance

Shares of NASDAQ:VCYT traded down $0.70 during trading on Friday, reaching $29.27. 1,911,019 shares of the company were exchanged, compared to its average volume of 753,299. The firm has a market capitalization of $2.24 billion, a PE ratio of -31.48 and a beta of 1.65. The business’s fifty day simple moving average is $22.49 and its 200-day simple moving average is $22.40. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $30.86.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.10. The business had revenue of $114.43 million for the quarter, compared to analyst estimates of $100.27 million. Veracyte had a negative net margin of 13.52% and a positive return on equity of 1.54%. The company’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same period last year, the company posted ($0.12) earnings per share. On average, sell-side analysts anticipate that Veracyte, Inc. will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Veracyte

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. increased its position in shares of Veracyte by 2,331.6% during the second quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 1,329 shares during the period. CWM LLC boosted its stake in shares of 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 in the last quarter. Signature Resources Capital Management LLC bought a new position in shares of Veracyte during the second quarter valued at approximately $83,000. nVerses Capital LLC bought a new position in shares of Veracyte during the second quarter valued at approximately $85,000. Finally, SG Americas Securities LLC bought a new position in shares of Veracyte during the first quarter valued at approximately $140,000.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on VCYT shares. Needham & Company LLC upped their target price on shares of Veracyte from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday. The Goldman Sachs Group dropped their target price on shares of Veracyte from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, April 15th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.50.

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.