Insider Selling: Veracyte, Inc. (NASDAQ:VCYT) Director Sells 10,000 Shares of Stock

Veracyte, Inc. (NASDAQ:VCYTGet Free Report) Director Karin Eastham sold 10,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $21.65, for a total value of $216,500.00. Following the sale, the director now directly owns 33,125 shares in the company, valued at $717,156.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Veracyte Stock Up 0.6 %

Shares of VCYT stock opened at $20.63 on Thursday. Veracyte, Inc. has a twelve month low of $19.52 and a twelve month high of $30.52. The company has a market cap of $1.51 billion, a P/E ratio of -20.03 and a beta of 1.62. The business has a fifty day simple moving average of $23.46 and a 200 day simple moving average of $24.18.

Veracyte (NASDAQ:VCYTGet Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.03. Veracyte had a negative return on equity of 2.02% and a negative net margin of 20.61%. The business had revenue of $98.20 million during the quarter, compared to the consensus estimate of $95.49 million. As a group, equities research analysts anticipate that Veracyte, Inc. will post -0.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on VCYT shares. Needham & Company LLC increased their target price on Veracyte from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. William Blair reissued an “outperform” rating on shares of Veracyte in a report on Friday, February 23rd. Finally, Morgan Stanley reduced their target price on Veracyte from $22.00 to $21.00 and set an “underweight” rating on the stock in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Veracyte has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Read Our Latest Report on VCYT

Institutional Trading of Veracyte

Several institutional investors and hedge funds have recently modified their holdings of the business. Credit Suisse AG lifted its position in shares of Veracyte by 0.6% during the 3rd quarter. Credit Suisse AG now owns 74,016 shares of the biotechnology company’s stock worth $1,229,000 after buying an additional 454 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in Veracyte by 8.7% in the second quarter. Ameritas Investment Partners Inc. now owns 6,012 shares of the biotechnology company’s stock valued at $153,000 after purchasing an additional 480 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Veracyte by 9.0% in the second quarter. PNC Financial Services Group Inc. now owns 6,567 shares of the biotechnology company’s stock valued at $167,000 after purchasing an additional 544 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Veracyte by 2.0% in the second quarter. The Manufacturers Life Insurance Company now owns 29,246 shares of the biotechnology company’s stock valued at $745,000 after purchasing an additional 562 shares during the last quarter. Finally, Diversified Trust Co raised its position in Veracyte by 4.0% in the fourth quarter. Diversified Trust Co now owns 14,810 shares of the biotechnology company’s stock valued at $407,000 after purchasing an additional 575 shares during the last quarter.

About Veracyte

(Get Free Report)

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.

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