Veracyte (NASDAQ:VCYT) Director Jens Holstein Sells 5,000 Shares of Stock

Veracyte, Inc. (NASDAQ:VCYT) Director Jens Holstein sold 5,000 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $40.95, for a total value of $204,750.00. Following the completion of the transaction, the director owned 27,471 shares of the company’s stock, valued at $1,124,937.45. The trade was a 15.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veracyte Stock Down 4.1%

NASDAQ:VCYT traded down $1.64 on Wednesday, reaching $38.50. The company’s stock had a trading volume of 1,621,981 shares, compared to its average volume of 1,102,801. Veracyte, Inc. has a 12-month low of $29.45 and a 12-month high of $60.91. The stock has a 50 day moving average price of $48.36 and a 200 day moving average price of $43.47. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 27.31 and a beta of 1.93.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Thursday, July 30th. The biotechnology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Veracyte had a return on equity of 9.26% and a net margin of 20.37%.The firm had revenue of $150.32 million during the quarter, compared to the consensus estimate of $144.59 million. During the same period last year, the company earned $0.44 EPS. The company’s quarterly revenue was up 15.5% on a year-over-year basis. Equities research analysts expect that Veracyte, Inc. will post 1.32 EPS for the current fiscal year.

Institutional Trading of Veracyte

Large investors have recently modified their holdings of the stock. Tidal Investments LLC acquired a new position in shares of Veracyte during the second quarter worth about $993,000. WINTON GROUP Ltd acquired a new stake in Veracyte in the second quarter valued at approximately $540,000. Integrated Wealth Concepts LLC acquired a new stake in Veracyte in the second quarter valued at approximately $44,000. NewEdge Advisors LLC purchased a new position in Veracyte in the second quarter worth approximately $204,000. Finally, Allworth Financial LP lifted its stake in Veracyte by 178.0% in the second quarter. Allworth Financial LP now owns 845 shares of the biotechnology company’s stock worth $50,000 after acquiring an additional 541 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on VCYT shares. Guggenheim lifted their target price on shares of Veracyte from $45.00 to $65.00 and gave the company a “buy” rating in a report on Monday, June 29th. Stephens dropped their price objective on Veracyte from $68.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, August 4th. Needham & Company LLC reissued a “buy” rating on shares of Veracyte in a research note on Tuesday. Weiss Ratings upgraded Veracyte from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, September 9th. Finally, Zacks Research upgraded shares of Veracyte from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Veracyte currently has an average rating of “Moderate Buy” and an average target price of $55.78.

About Veracyte

Veracyte, Inc is a diagnostics company that develops and commercializes genomic tests designed to help physicians diagnose cancer, assess disease risk and guide treatment decisions. The company combines genomic data with bioinformatics and machine-learning technologies to provide clinically actionable information from patient tissue samples.

Veracyte’s portfolio includes Afirma tests for evaluating thyroid nodules, Decipher tests for assessing the risk and biological characteristics of prostate cancer, and Prosigna for classifying and evaluating recurrence risk in certain breast cancers.