Insider Selling: Veracyte, Inc. (NASDAQ:VCYT) Director Sells 5,173 Shares of Stock

Veracyte, Inc. (NASDAQ:VCYT) Director Evan/ Fa Jones sold 5,173 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $35.23, for a total value of $182,244.79. Following the transaction, the director now directly owns 34,343 shares in the company, valued at $1,209,903.89. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 transaction of $658,715.40.
• On Friday, August 9th, Evan/ Fa Jones sold 1,032 shares of Veracyte stock. The stock was sold at an average price of $30.03, for a total transaction of $30,990.96.

Veracyte Trading Down 1.1 %

VCYT stock opened at $33.35 on Thursday. The firm has a 50 day simple moving average of $29.24 and a 200-day simple moving average of $24.08. The company has a market capitalization of $2.56 billion, a P/E ratio of -35.48 and a beta of 1.66. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $35.51.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.10. The company 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 firm’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period last year, the business earned ($0.12) EPS. On average, research analysts predict that Veracyte, Inc. will post 0.16 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on VCYT shares. Morgan Stanley raised their price target on shares of Veracyte from $21.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, August 12th. Needham & Company LLC lifted their target price on Veracyte from $31.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Veracyte presently has an average rating of “Moderate Buy” and a consensus price target of $31.25.

Hedge Funds Weigh In On Veracyte

A number of hedge funds have recently bought and sold shares of VCYT. Blue Trust Inc. lifted its holdings in Veracyte by 2,331.6% during the 2nd quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock worth $31,000 after buying an additional 1,329 shares during the last quarter. CWM LLC increased 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 during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Veracyte during the 2nd quarter valued at approximately $58,000. Signature Resources Capital Management LLC bought a new position in Veracyte during the second quarter worth $83,000. Finally, nVerses Capital LLC acquired a new position in Veracyte in the second quarter worth $85,000.

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.