Insider Selling: Veracyte, Inc. (NASDAQ:VCYT) CFO Sells 527 Shares of Stock

Veracyte, Inc. (NASDAQ:VCYT - Get Free Report) CFO Rebecca Chambers sold 527 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $43.85, for a total value of $23,108.95. Following the sale, the chief financial officer now owns 113,510 shares of the company's stock, valued at approximately $4,977,413.50. This trade represents a 0.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Rebecca Chambers also recently made the following trade(s):

• On Tuesday, December 3rd, Rebecca Chambers sold 7,000 shares of Veracyte stock. The stock was sold at an average price of $43.23, for a total value of $302,610.00.

Veracyte Price Performance

Shares of VCYT stock traded down $1.94 during mid-day trading on Friday, hitting $41.56. The company had a trading volume of 1,015,922 shares, compared to its average volume of 790,610. The company has a market capitalization of $3.22 billion, a P/E ratio of -277.07 and a beta of 1.71. The stock's 50 day moving average price is $42.52 and its 200-day moving average price is $36.21. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $47.32.

Veracyte (NASDAQ:VCYT - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $109.81 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The business's revenue was up 28.6% on a year-over-year basis. On average, equities research analysts expect that Veracyte, Inc. will post 0.38 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on VCYT shares. Needham & Company LLC boosted their target price on shares of Veracyte from $44.00 to $51.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Morgan Stanley boosted their price objective on shares of Veracyte from $26.00 to $28.00 and gave the company an "underweight" rating in a research report on Monday, November 18th. UBS Group raised their target price on Veracyte from $43.00 to $46.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Wolfe Research started coverage on Veracyte in a report on Friday, November 15th. They set an "outperform" rating and a $50.00 price target for the company. Finally, Leerink Partners raised their price objective on Veracyte from $35.00 to $40.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Veracyte has an average rating of "Moderate Buy" and a consensus price target of $42.00.

Hedge Funds Weigh In On Veracyte

Several institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its position in shares of Veracyte by 49.7% during the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 237 shares during the last quarter. US Bancorp DE raised its stake in Veracyte by 57.4% during the fourth quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company's stock valued at $70,000 after purchasing an additional 647 shares in the last quarter. Principal Securities Inc. lifted its position in Veracyte by 34.1% during the fourth quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company's stock valued at $76,000 after purchasing an additional 485 shares during the last quarter. Castleview Partners LLC purchased a new position in shares of Veracyte in the 3rd quarter worth $87,000. Finally, Values First Advisors Inc. bought a new stake in shares of Veracyte in the 3rd quarter worth about $91,000.

About Veracyte

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm's portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.