Veracyte, Inc. (NASDAQ:VCYT) Director Evan/ Fa Jones Sells 1,032 Shares

Veracyte, Inc. (NASDAQ:VCYT) Director Evan/ Fa Jones sold 1,032 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $30.03, for a total transaction of $30,990.96. Following the completion of the sale, the director now owns 46,413 shares in the company, valued at approximately $1,393,782.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Veracyte Stock Performance

Shares of VCYT stock traded up $2.63 during mid-day trading on Tuesday, reaching $32.55. 1,741,018 shares of the company’s stock traded hands, compared to its average volume of 765,305. Veracyte, Inc. has a 12 month low of $18.61 and a 12 month high of $32.86. The firm has a 50 day moving average price of $22.84 and a two-hundred day moving average price of $22.40. The firm has a market capitalization of $2.50 billion, a PE ratio of -34.63 and a beta of 1.65.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.10. Veracyte had a positive return on equity of 1.52% and a negative net margin of 13.52%. The business had revenue of $114.43 million during the quarter, compared to analyst estimates of $100.27 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. Veracyte’s revenue for the quarter was up 26.7% on a year-over-year basis. As a group, equities analysts expect that Veracyte, Inc. will post -0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in Veracyte by 2,331.6% during the second quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 1,329 shares in the last quarter. CWM LLC boosted its holdings in Veracyte by 168.3% in the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock worth $33,000 after buying an additional 951 shares during the period. Signature Resources Capital Management LLC bought a new position in Veracyte in the 2nd quarter worth $83,000. nVerses Capital LLC purchased a new stake in Veracyte in the 2nd quarter worth $85,000. Finally, SG Americas Securities LLC bought a new stake in Veracyte during the first quarter valued at about $140,000.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VCYT. Morgan Stanley increased their price target on Veracyte from $21.00 to $26.00 and gave the company an “underweight” rating in a report on Monday. The Goldman Sachs Group lowered their target price on Veracyte from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, April 15th. Finally, Needham & Company LLC boosted their price target on Veracyte from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.75.

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.