Veracyte, Inc. (NASDAQ:VCYT) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Veracyte, Inc. (NASDAQ:VCYT) have been given an average recommendation of “Moderate Buy” by the five brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $31.25.

VCYT has been the topic of several recent analyst reports. Morgan Stanley increased their target price on Veracyte from $21.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, August 12th. Needham & Company LLC increased their price objective on Veracyte from $31.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, August 28th.

Insider Buying and Selling at Veracyte

In other news, insider John Leite sold 1,277 shares of Veracyte stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $25.00, for a total transaction of $31,925.00. Following the sale, the insider now owns 82,968 shares in the company, valued at $2,074,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider John Leite sold 1,277 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $25.00, for a total value of $31,925.00. Following the completion of the sale, the insider now directly owns 82,968 shares of the company’s stock, valued at approximately $2,074,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Karin Eastham sold 7,500 shares of Veracyte stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $25.00, for a total value of $187,500.00. Following the transaction, the director now directly owns 33,228 shares in the company, valued at approximately $830,700. The disclosure for this sale can be found here. Insiders sold 45,918 shares of company stock worth $1,399,541 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Veracyte

Large investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in shares of Veracyte by 2,331.6% during the second quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock worth $31,000 after buying an additional 1,329 shares during the period. 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 valued at $33,000 after purchasing an additional 951 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Veracyte during the 2nd quarter worth approximately $58,000. Signature Resources Capital Management LLC purchased a new position in shares of Veracyte during the 2nd quarter worth approximately $83,000. Finally, nVerses Capital LLC acquired a new stake in shares of Veracyte in the 2nd quarter valued at approximately $85,000.

Veracyte Price Performance

VCYT stock opened at $34.26 on Tuesday. The business’s 50-day moving average is $28.91 and its two-hundred day moving average is $23.94. The firm has a market capitalization of $2.62 billion, a P/E ratio of -36.45 and a beta of 1.66. Veracyte has a 1 year low of $18.61 and a 1 year high of $35.51.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.10. Veracyte had a negative net margin of 13.52% and a positive return on equity of 1.52%. The firm had revenue of $114.43 million for the quarter, compared to analysts’ expectations of $100.27 million. During the same quarter last year, the company earned ($0.12) earnings per share. The firm’s revenue was up 26.7% compared to the same quarter last year. On average, analysts expect that Veracyte will post 0.16 EPS for the current year.

Veracyte Company Profile

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.