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 that occurred on Wednesday, November 27th. The shares were 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. The trade was a 10.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Veracyte Trading Up 0.1 %

Shares of NASDAQ:VCYT opened at $42.95 on Friday. The company has a 50 day moving average of $35.70 and a 200-day moving average of $28.99. The firm has a market cap of $3.33 billion, a P/E ratio of -286.33 and a beta of 1.67. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $44.16.

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

Analysts Set New Price Targets

VCYT has been the topic of several recent research reports. Needham & Company LLC raised their price target on Veracyte from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group raised their target price on Veracyte from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. UBS Group upped their price target on shares of Veracyte from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Scotiabank increased their price objective on shares of Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a report on Friday, November 8th. Finally, Leerink Partners boosted their target price on shares of Veracyte from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $41.25.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VCYT. KBC Group NV boosted its position in shares of Veracyte by 13.7% during the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 323 shares in the last quarter. Inspire Investing LLC grew its position in Veracyte by 2.1% in the second quarter. Inspire Investing LLC now owns 16,462 shares of the biotechnology company’s stock worth $357,000 after buying an additional 340 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Veracyte by 21.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,778 shares of the biotechnology company’s stock valued at $94,000 after buying an additional 496 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Veracyte by 6.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 8,198 shares of the biotechnology company’s stock valued at $182,000 after acquiring an additional 530 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Veracyte by 3.7% during the 2nd quarter. Arizona State Retirement System now owns 20,806 shares of the biotechnology company’s stock valued at $451,000 after acquiring an additional 733 shares during 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.