Veracyte, Inc. (NASDAQ:VCYT) CFO Rebecca Chambers Sells 7,000 Shares

Veracyte, Inc. (NASDAQ:VCYT) CFO Rebecca Chambers sold 7,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $43.23, for a total value of $302,610.00. Following the transaction, the chief financial officer now owns 114,037 shares of the company’s stock, valued at $4,929,819.51. The trade was a 5.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Veracyte Stock Performance

Shares of NASDAQ VCYT opened at $44.09 on Thursday. Veracyte, Inc. has a 52 week low of $18.61 and a 52 week high of $44.50. The business has a 50-day simple moving average of $36.31 and a two-hundred day simple moving average of $29.47.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, topping 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 business had revenue of $115.86 million during the quarter, compared to the consensus estimate of $109.81 million. During the same quarter last year, the company earned ($0.03) EPS. The firm’s revenue was up 28.6% compared to the same quarter last year. On average, equities research analysts expect that Veracyte, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Trading of Veracyte

Several institutional investors and hedge funds have recently modified their holdings of VCYT. Price T Rowe Associates Inc. MD raised its holdings in shares of Veracyte by 11.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,041 shares of the biotechnology company’s stock valued at $910,000 after acquiring an additional 4,256 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Veracyte by 604.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 62,686 shares of the biotechnology company’s stock valued at $1,358,000 after acquiring an additional 53,784 shares in the last quarter. CWM LLC raised its holdings in shares of Veracyte by 168.3% in the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 951 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of Veracyte by 3.2% in the 2nd quarter. QRG Capital Management Inc. now owns 129,416 shares of the biotechnology company’s stock valued at $2,804,000 after acquiring an additional 4,015 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Veracyte by 37.4% in the 2nd quarter. SG Americas Securities LLC now owns 8,703 shares of the biotechnology company’s stock valued at $189,000 after acquiring an additional 2,367 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VCYT. Scotiabank increased their price target on Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. Wolfe Research began coverage on Veracyte in a research note on Friday, November 15th. They set an “outperform” rating and a $50.00 price target for the company. The Goldman Sachs Group increased their price target on Veracyte from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Morgan Stanley increased their price target on Veracyte from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Monday, November 18th. Finally, Needham & Company LLC increased their price target on Veracyte from $37.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.25.

Veracyte Company Profile

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.