Marc Stapley Sells 7,667 Shares of Veracyte (NASDAQ:VCYT) Stock

Veracyte, Inc. (NASDAQ:VCYT) CEO Marc Stapley sold 7,667 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $30.41, for a total value of $233,153.47. Following the completion of the transaction, the chief executive officer directly owned 334,185 shares of the company’s stock, valued at approximately $10,162,565.85. This trade represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Veracyte Stock Down 1.4%

NASDAQ VCYT opened at $31.99 on Wednesday. Veracyte, Inc. has a fifty-two week low of $22.61 and a fifty-two week high of $47.32. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 96.94 and a beta of 2.07. The business has a fifty day moving average of $27.50 and a 200-day moving average of $29.08.

Institutional Investors Weigh In On Veracyte

A number of hedge funds and other institutional investors have recently made changes to their positions in VCYT. Nuveen LLC purchased a new stake in Veracyte during the first quarter valued at about $33,003,000. Artisan Partners Limited Partnership grew its position in Veracyte by 20.7% during the second quarter. Artisan Partners Limited Partnership now owns 6,321,775 shares of the biotechnology company’s stock valued at $170,878,000 after acquiring an additional 1,082,064 shares during the period. Squarepoint Ops LLC grew its position in Veracyte by 770.6% during the second quarter. Squarepoint Ops LLC now owns 897,387 shares of the biotechnology company’s stock valued at $24,256,000 after acquiring an additional 794,307 shares during the period. Soleus Capital Management L.P. purchased a new stake in Veracyte during the second quarter valued at about $19,338,000. Finally, Point72 Asset Management L.P. purchased a new stake in Veracyte during the fourth quarter valued at about $20,717,000.

Wall Street Analysts Forecast Growth

VCYT has been the subject of a number of analyst reports. Wall Street Zen raised Veracyte from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Morgan Stanley set a $28.00 price target on Veracyte and gave the stock an “underweight” rating in a report on Friday, August 8th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Veracyte has an average rating of “Moderate Buy” and an average price target of $40.90.

Veracyte Company Profile

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.