John Leite Sells 1,050 Shares of Veracyte, Inc. (NASDAQ:VCYT) Stock

Veracyte, Inc. (NASDAQ:VCYT) insider John Leite sold 1,050 shares of Veracyte stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $43.25, for a total transaction of $45,412.50. Following the sale, the insider now directly owns 73,810 shares of the company’s stock, valued at $3,192,282.50. This represents a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Veracyte Stock Performance

Shares of NASDAQ VCYT traded up $0.43 during trading hours on Wednesday, hitting $44.09. The company’s stock had a trading volume of 517,755 shares, compared to its average volume of 770,976. Veracyte, Inc. has a 12 month low of $18.61 and a 12 month high of $44.50. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of -294.67 and a beta of 1.69. The business has a 50-day simple moving average of $36.10 and a 200-day simple moving average of $29.36.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $109.81 million. During the same period in the previous year, the firm earned ($0.03) earnings per share. The business’s revenue was up 28.6% compared to the same quarter last year. On average, equities research analysts forecast that Veracyte, Inc. will post 0.32 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on VCYT shares. The Goldman Sachs Group increased their price objective on Veracyte from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Wolfe Research assumed coverage on shares of Veracyte in a report on Friday, November 15th. They set an “outperform” rating and a $50.00 target price on the stock. UBS Group boosted their price target on shares of Veracyte from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Leerink Partners raised their price objective on Veracyte from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Guggenheim initiated coverage on Veracyte in a research note on Thursday, October 10th. They issued a “buy” rating and a $40.00 target price for the company. One analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $41.25.

Institutional Investors Weigh In On Veracyte

Institutional investors and hedge funds have recently modified their holdings of the stock. KBC Group NV increased its position in shares of Veracyte by 13.7% during the third quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock valued at $91,000 after buying an additional 323 shares during the period. Inspire Investing LLC boosted its position in Veracyte by 2.1% during the 2nd quarter. Inspire Investing LLC now owns 16,462 shares of the biotechnology company’s stock valued at $357,000 after acquiring an additional 340 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Veracyte by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,778 shares of the biotechnology company’s stock worth $94,000 after acquiring an additional 496 shares during the period. Arizona State Retirement System raised its position in shares of Veracyte by 3.7% in the 2nd quarter. Arizona State Retirement System now owns 20,806 shares of the biotechnology company’s stock worth $451,000 after acquiring an additional 733 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Veracyte by 168.3% during the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 951 shares in the last quarter.

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.