Insider Selling: Veracyte, Inc. (NASDAQ:VCYT) Insider Sells 2,600 Shares of Stock

Veracyte, Inc. (NASDAQ:VCYT) insider Bonnie H. Anderson sold 2,600 shares of the company’s stock in a transaction dated Friday, September 17th. The shares were sold at an average price of $50.18, for a total transaction of $130,468.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

VCYT stock opened at $50.61 on Thursday. Veracyte, Inc. has a 1-year low of $28.82 and a 1-year high of $86.03. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of -50.11 and a beta of 0.77. The business has a 50 day simple moving average of $44.20 and a two-hundred day simple moving average of $44.06.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Thursday, July 29th. The biotechnology company reported ($0.13) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.12. Veracyte had a negative return on equity of 4.05% and a negative net margin of 40.06%. The business had revenue of $55.11 million during the quarter, compared to the consensus estimate of $47.73 million. On average, equities analysts predict that Veracyte, Inc. will post -0.61 EPS for the current fiscal year.

VCYT has been the subject of several research reports. Raymond James upped their price target on shares of Veracyte from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, June 28th. Morgan Stanley reduced their price target on shares of Veracyte from $45.00 to $42.00 and set an “underweight” rating for the company in a research report on Friday, July 30th. SVB Leerink upped their price target on shares of Veracyte from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, July 30th. Needham & Company LLC increased their target price on shares of Veracyte from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, July 30th. Finally, William Blair reissued a “buy” rating on shares of Veracyte in a report on Thursday, May 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $52.50.

Hedge funds have recently bought and sold shares of the business. Swiss National Bank boosted its stake in Veracyte by 16.3% in the 1st quarter. Swiss National Bank now owns 149,100 shares of the biotechnology company’s stock worth $8,014,000 after purchasing an additional 20,900 shares during the period. Lazard Asset Management LLC boosted its stake in Veracyte by 34.8% in the 1st quarter. Lazard Asset Management LLC now owns 1,677 shares of the biotechnology company’s stock worth $90,000 after purchasing an additional 433 shares during the period. Eaton Vance Management bought a new position in shares of Veracyte during the 1st quarter valued at approximately $83,000. Price T Rowe Associates Inc. MD boosted its position in shares of Veracyte by 85.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 27,951 shares of the biotechnology company’s stock valued at $1,502,000 after acquiring an additional 12,887 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in shares of Veracyte by 423.3% during the 1st quarter. Panagora Asset Management Inc. now owns 106,153 shares of the biotechnology company’s stock valued at $5,706,000 after acquiring an additional 85,868 shares during the last quarter.

About Veracyte

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.

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