Veracyte, Inc. (NASDAQ:VCYT) CAO Jonathan Wygant Sells 5,032 Shares

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

Veracyte Stock Up 0.1 %

VCYT stock opened at $42.95 on Friday. The stock’s 50 day moving average is $35.70 and its two-hundred day moving average is $28.99. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $44.16. The company has a market capitalization of $3.33 billion, a PE ratio of -286.33 and a beta of 1.67.

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

Wall Street Analyst Weigh In

VCYT has been the topic of several research reports. UBS Group raised their price objective on Veracyte from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Scotiabank raised their target price on Veracyte from $40.00 to $44.00 and gave the company a “sector outperform” rating in a report on Friday, November 8th. The Goldman Sachs Group upped their price target on Veracyte from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC increased their price objective on shares of Veracyte from $37.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Guggenheim began coverage on shares of Veracyte in a research report on Thursday, October 10th. They set a “buy” rating and a $40.00 target price on the stock. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $41.25.

Institutional Investors Weigh In On Veracyte

A number of institutional investors have recently modified their holdings of the stock. Synovus Financial Corp grew its stake in Veracyte by 16.2% in the third quarter. Synovus Financial Corp now owns 22,865 shares of the biotechnology company’s stock worth $778,000 after purchasing an additional 3,195 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Veracyte in the 3rd quarter valued at approximately $820,000. Geode Capital Management LLC raised its position in shares of Veracyte by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,844,713 shares of the biotechnology company’s stock valued at $62,806,000 after acquiring an additional 17,921 shares in the last quarter. M&T Bank Corp raised its position in shares of Veracyte by 20.0% during the 3rd quarter. M&T Bank Corp now owns 61,261 shares of the biotechnology company’s stock valued at $2,085,000 after acquiring an additional 10,223 shares in the last quarter. Finally, Barclays PLC lifted its stake in Veracyte by 138.6% during the third quarter. Barclays PLC now owns 146,402 shares of the biotechnology company’s stock worth $4,983,000 after purchasing an additional 85,033 shares during the last quarter.

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.