Veracyte’s (VCYT) “Sell (D+)” Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their sell (d+) rating on shares of Veracyte (NASDAQ:VCYT) in a research report sent to investors on Friday morning,Weiss Ratings reports.

A number of other brokerages have also issued reports on VCYT. Wall Street Zen upgraded shares of Veracyte from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Morgan Stanley set a $28.00 target price on shares of Veracyte and gave the company an “underweight” rating in a research note on Friday, August 8th. Canaccord Genuity Group started coverage on shares of Veracyte in a research note on Monday, October 20th. They set a “hold” rating and a $40.00 target price for the company. Finally, Zacks Research upgraded shares of Veracyte from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.90.

Veracyte Trading Up 3.1%

Shares of NASDAQ:VCYT opened at $36.73 on Friday. The company has a fifty day simple moving average of $32.92 and a 200 day simple moving average of $29.63. The firm has a market cap of $2.89 billion, a PE ratio of 111.31 and a beta of 2.11. Veracyte has a 12-month low of $22.61 and a 12-month high of $47.32.

Insider Activity

In other news, CEO Marc Stapley sold 7,667 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $30.41, for a total transaction of $233,153.47. Following the completion of the transaction, the chief executive officer owned 334,185 shares of the company’s stock, valued at approximately $10,162,565.85. The trade was a 2.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Phillip G. Febbo sold 8,349 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $36.02, for a total transaction of $300,730.98. Following the transaction, the insider directly owned 92,441 shares of the company’s stock, valued at approximately $3,329,724.82. This trade represents a 8.28% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,299 shares of company stock valued at $610,799. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Veracyte

Several hedge funds and other institutional investors have recently modified their holdings of VCYT. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Veracyte during the second quarter valued at $25,000. Osaic Holdings Inc. boosted its holdings in shares of Veracyte by 289.9% during the second quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 893 shares during the period. Headlands Technologies LLC acquired a new position in shares of Veracyte during the first quarter valued at $48,000. Covestor Ltd boosted its holdings in shares of Veracyte by 23,936.4% during the first quarter. Covestor Ltd now owns 2,644 shares of the biotechnology company’s stock valued at $78,000 after acquiring an additional 2,633 shares during the period. Finally, Pacer Advisors Inc. acquired a new position in shares of Veracyte during the third quarter valued at $107,000.

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.