Veracyte, Inc. (NASDAQ:VCYT) Director Sells $182,244.79 in Stock

Veracyte, Inc. (NASDAQ:VCYT) Director Evan/ Fa Jones sold 5,173 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $35.23, for a total value of $182,244.79. Following the sale, the director now owns 34,343 shares of the company’s stock, valued at $1,209,903.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Evan/ Fa Jones also recently made the following trade(s):

• On Tuesday, August 13th, Evan/ Fa Jones sold 20,457 shares of Veracyte stock. The shares were sold at an average price of $32.20, for a total value of $658,715.40.
• On Friday, August 9th, Evan/ Fa Jones sold 1,032 shares of Veracyte stock. The shares were sold at an average price of $30.03, for a total value of $30,990.96.

Veracyte Price Performance

Veracyte stock opened at $33.73 on Wednesday. Veracyte, Inc. has a 12 month low of $18.61 and a 12 month high of $35.51. The company has a fifty day moving average price of $29.08 and a two-hundred day moving average price of $24.02. The company has a market cap of $2.58 billion, a PE ratio of -35.88 and a beta of 1.66.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.10. The business had revenue of $114.43 million during the quarter, compared to analyst estimates of $100.27 million. Veracyte had a negative net margin of 13.52% and a positive return on equity of 1.52%. The company’s quarterly revenue was up 26.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.12) EPS. Equities research analysts anticipate that Veracyte, Inc. will post 0.16 earnings per share for the current year.

Institutional Trading of Veracyte

Institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in Veracyte during the 2nd quarter worth $58,000. Point72 Asset Management L.P. bought a new position in shares of Veracyte during the second quarter worth about $12,279,000. The Manufacturers Life Insurance Company increased its holdings in shares of Veracyte by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,766 shares of the biotechnology company’s stock worth $927,000 after acquiring an additional 2,135 shares during the period. AXA S.A. bought a new stake in Veracyte in the 2nd quarter valued at about $347,000. Finally, Point72 DIFC Ltd acquired a new position in Veracyte during the 2nd quarter valued at about $217,000.

Analyst Ratings Changes

VCYT has been the subject of a number of research analyst reports. Needham & Company LLC lifted their price target on shares of Veracyte from $31.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Morgan Stanley upped their target price on shares of Veracyte from $21.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.