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

Veracyte, Inc. (NASDAQ:VCYT - Get Free Report) CAO Jonathan Wygant sold 5,032 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $1,814,804.57. This trade represents a 10.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Veracyte Stock Up 0.1 %

NASDAQ:VCYT traded up $0.06 on Friday, reaching $42.95. 490,418 shares of the company's stock traded hands, compared to its average volume of 770,434. The stock has a 50-day simple moving average of $35.54 and a 200-day simple moving average of $28.85. The firm has a market cap of $3.33 billion, a PE ratio of -285.93 and a beta of 1.67. Veracyte, Inc. has a 12 month low of $18.61 and a 12 month high of $44.16.

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

Institutional Investors Weigh In On Veracyte

Several large investors have recently made changes to their positions in VCYT. Point72 Asset Management L.P. bought a new stake in shares of Veracyte in the second quarter worth about $12,279,000. William Blair Investment Management LLC increased its holdings in shares of Veracyte by 67.4% in the second quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company's stock worth $26,907,000 after purchasing an additional 500,020 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Veracyte by 288.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 360,871 shares of the biotechnology company's stock worth $12,284,000 after purchasing an additional 268,000 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Veracyte by 3.7% in the first quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company's stock worth $163,649,000 after purchasing an additional 266,660 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Veracyte by 276.4% in the third quarter. Jane Street Group LLC now owns 301,652 shares of the biotechnology company's stock worth $10,268,000 after purchasing an additional 221,504 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VCYT. Morgan Stanley raised their price objective on Veracyte from $26.00 to $28.00 and gave the company an "underweight" rating in a research report on Monday, November 18th. Needham & Company LLC increased their target price on Veracyte from $37.00 to $44.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Leerink Partners increased their target price on Veracyte from $35.00 to $40.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Guggenheim began coverage on Veracyte in a research note on Thursday, October 10th. They set a "buy" rating and a $40.00 target price on the stock. Finally, UBS Group increased their target price on Veracyte from $43.00 to $46.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Veracyte 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.

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