Veracyte (NASDAQ:VCYT) PT Lowered to $28.00 at The Goldman Sachs Group

Veracyte (NASDAQ:VCYT) had its price objective decreased by The Goldman Sachs Group from $32.00 to $28.00 in a research note published on Monday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the biotechnology company’s stock.

Other analysts also recently issued research reports about the stock. William Blair reaffirmed an outperform rating on shares of Veracyte in a research report on Friday, February 23rd. Needham & Company LLC lifted their price target on shares of Veracyte from $30.00 to $33.00 and gave the stock a buy rating in a research report on Friday, February 23rd. Finally, Morgan Stanley decreased their target price on Veracyte from $22.00 to $21.00 and set an underweight rating for the company in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $29.00.

Veracyte Stock Performance

VCYT stock opened at $18.86 on Monday. The stock has a market capitalization of $1.42 billion, a P/E ratio of -18.31 and a beta of 1.62. Veracyte has a one year low of $18.73 and a one year high of $30.52. The company has a 50 day moving average price of $22.50 and a two-hundred day moving average price of $24.01.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. The company had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $95.49 million. Veracyte had a negative net margin of 20.61% and a negative return on equity of 2.02%. Research analysts forecast that Veracyte will post -0.29 earnings per share for the current fiscal year.

Insider Transactions at Veracyte

In other news, Director Karin Eastham sold 10,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $21.65, for a total transaction of $216,500.00. Following the transaction, the director now owns 33,125 shares of the company’s stock, valued at $717,156.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Veracyte

Institutional investors have recently modified their holdings of the business. Dark Forest Capital Management LP bought a new position in Veracyte during the 3rd quarter worth approximately $506,000. ARK Investment Management LLC increased its holdings in shares of Veracyte by 0.8% in the fourth quarter. ARK Investment Management LLC now owns 7,655,603 shares of the biotechnology company’s stock valued at $210,606,000 after purchasing an additional 62,011 shares during the last quarter. Diversified Trust Co grew its stake in shares of Veracyte by 4.0% in the fourth quarter. Diversified Trust Co now owns 14,810 shares of the biotechnology company’s stock valued at $407,000 after acquiring an additional 575 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in Veracyte by 55.5% during the third quarter. Qube Research & Technologies Ltd now owns 166,732 shares of the biotechnology company’s stock worth $3,723,000 after purchasing an additional 59,484 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its position in Veracyte by 96.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,862 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 913 shares during the period.

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.