Veracyte, Inc. (NASDAQ:VCYT) Insider Sells $163,164.62 in Stock

Veracyte, Inc. (NASDAQ:VCYT) insider John Leite sold 5,479 shares of Veracyte stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total transaction of $163,164.62. Following the sale, the insider now owns 76,174 shares of the company’s stock, valued at $2,268,461.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

John Leite also recently made the following trade(s):

• On Tuesday, July 16th, John Leite sold 1,277 shares of Veracyte stock. The shares were sold at an average price of $25.00, for a total value of $31,925.00.

Veracyte Trading Down 4.0 %

Shares of Veracyte stock traded down $1.20 during trading on Friday, reaching $28.57. The company’s stock had a trading volume of 810,969 shares, compared to its average volume of 760,910. The stock has a 50-day moving average price of $26.39 and a two-hundred day moving average price of $23.22. The stock has a market capitalization of $2.19 billion, a P/E ratio of -30.56 and a beta of 1.66. Veracyte, Inc. has a one year low of $18.61 and a one year high of $33.33.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.10. Veracyte had a negative net margin of 13.52% and a positive return on equity of 1.52%. The business had revenue of $114.43 million for the quarter, compared to analyst estimates of $100.27 million. During the same period last year, the business posted ($0.12) earnings per share. The firm’s quarterly revenue was up 26.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Veracyte, Inc. will post 0.13 EPS for the current fiscal year.

Institutional Trading of Veracyte

A number of hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new stake in Veracyte in the second quarter valued at $12,279,000. The Manufacturers Life Insurance Company raised its position in shares of Veracyte by 5.3% in the second quarter. The Manufacturers Life Insurance Company now owns 42,766 shares of the biotechnology company’s stock valued at $927,000 after purchasing an additional 2,135 shares during the period. AXA S.A. purchased a new stake in shares of Veracyte in the second quarter worth $347,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Veracyte in the second quarter worth $58,000. Finally, Point72 DIFC Ltd purchased a new stake in Veracyte in the second quarter worth approximately $217,000.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Needham & Company LLC upped their target price on shares of Veracyte from $31.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Morgan Stanley boosted their price target on Veracyte from $21.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $31.25.

About Veracyte

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.