Insider Selling: Veracyte, Inc. (NASDAQ:VCYT) CAO Sells 5,032 Shares of Stock

Veracyte, Inc. (NASDAQ:VCYT) CAO Jonathan Wygant sold 5,032 shares of Veracyte stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $42.89, for a total value of $215,822.48. Following the completion of the transaction, the chief accounting officer now owns 42,313 shares of the company’s stock, valued at approximately $1,814,804.57. This represents a 10.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Veracyte Stock Performance

NASDAQ:VCYT traded up $0.06 during trading hours on Friday, reaching $42.95. The company’s stock had a trading volume of 490,418 shares, compared to its average volume of 770,434. The company has a market capitalization of $3.33 billion, a P/E 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. The stock has a 50 day moving average price of $35.54 and a two-hundred day moving average price of $28.85.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.16. The company had revenue of $115.86 million during the quarter, compared to the consensus estimate of $109.81 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. Veracyte’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. As a group, analysts predict that Veracyte, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on VCYT shares. Leerink Partners lifted their price target on Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Morgan Stanley boosted their target price on Veracyte from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Monday, November 18th. Scotiabank boosted their target price on Veracyte from $40.00 to $44.00 and gave the company a “sector outperform” rating in a research report on Friday, November 8th. Needham & Company LLC boosted their target price on Veracyte from $37.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Wolfe Research assumed coverage on Veracyte in a research report on Friday, November 15th. They set an “outperform” rating and a $50.00 target price for the company. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Veracyte currently has a consensus rating of “Moderate Buy” and an average target price of $41.25.

Hedge Funds Weigh In On Veracyte

A number of large investors have recently bought and sold shares of the business. Synovus Financial Corp raised its stake in Veracyte by 16.2% in the third quarter. Synovus Financial Corp now owns 22,865 shares of the biotechnology company’s stock worth $778,000 after buying an additional 3,195 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of Veracyte during the third quarter worth $820,000. Geode Capital Management LLC increased its position in shares of Veracyte by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,844,713 shares of the biotechnology company’s stock worth $62,806,000 after purchasing an additional 17,921 shares in the last quarter. M&T Bank Corp increased its position in shares of Veracyte by 20.0% during the third quarter. M&T Bank Corp now owns 61,261 shares of the biotechnology company’s stock worth $2,085,000 after purchasing an additional 10,223 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Veracyte by 138.6% during the third quarter. Barclays PLC now owns 146,402 shares of the biotechnology company’s stock worth $4,983,000 after purchasing an additional 85,033 shares in the last quarter.

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.