Veracyte, Inc. (NASDAQ:VCYT) Director Sells $403,000.00 in Stock

Veracyte, Inc. (NASDAQ:VCYT) Director Karin Eastham sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total value of $403,000.00. Following the completion of the transaction, the director now directly owns 18,497 shares in the company, valued at $745,429.10. The trade was a 35.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Veracyte Price Performance

NASDAQ:VCYT traded up $1.50 during trading hours on Monday, reaching $43.41. 1,004,115 shares of the stock were exchanged, compared to its average volume of 679,638. The stock has a market cap of $3.36 billion, a PE ratio of -289.40 and a beta of 1.71. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $46.00. The firm has a 50 day moving average of $40.10 and a 200 day moving average of $32.82.

Veracyte (NASDAQ:VCYT) last announced 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. The business had revenue of $115.86 million during the quarter, compared to analysts’ expectations of $109.81 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The firm’s revenue was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.03) earnings per share. Equities research analysts anticipate that Veracyte, Inc. will post 0.38 earnings per share for the current year.

Institutional Investors Weigh In On Veracyte

A number of institutional investors have recently made changes to their positions in VCYT. Point72 Asia Singapore Pte. Ltd. bought a new position in Veracyte during the 2nd quarter worth $58,000. Castleview Partners LLC acquired a new position in shares of Veracyte in the third quarter valued at about $87,000. Values First Advisors Inc. bought a new position in Veracyte during the third quarter worth about $91,000. KBC Group NV raised its stake in Veracyte by 13.7% in the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock worth $91,000 after purchasing an additional 323 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Veracyte by 21.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,778 shares of the biotechnology company’s stock valued at $94,000 after purchasing an additional 496 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Guggenheim began coverage on shares of Veracyte in a report on Thursday, October 10th. They set a “buy” rating and a $40.00 price objective for the company. Morgan Stanley upped their price objective on shares of Veracyte from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Monday, November 18th. UBS Group lifted their target price on Veracyte from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Wolfe Research started coverage on Veracyte in a report on Friday, November 15th. They issued an “outperform” rating and a $50.00 price target for the company. Finally, Needham & Company LLC lifted their price objective on Veracyte from $37.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.13.

About Veracyte

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.