Insider Selling: Veracyte, Inc. (NASDAQ:VCYT) Director Sells 10,000 Shares of Stock

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

Veracyte Price Performance

Shares of VCYT opened at $43.78 on Thursday. The company’s fifty day moving average price is $40.26 and its 200-day moving average price is $32.96. Veracyte, Inc. has a 1-year low of $18.61 and a 1-year high of $46.00. The firm has a market capitalization of $3.39 billion, a PE ratio of -291.87 and a beta of 1.71.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $109.81 million. During the same period in the prior year, the company earned ($0.03) earnings per share. The company’s revenue was up 28.6% on a year-over-year basis. As a group, research analysts anticipate that Veracyte, Inc. will post 0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Veracyte

Institutional investors have recently bought and sold shares of the business. KBC Group NV increased its stake in shares of Veracyte by 13.7% in the third quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock worth $91,000 after acquiring an additional 323 shares during the period. Inspire Investing LLC boosted its holdings in Veracyte by 2.1% in the second quarter. Inspire Investing LLC now owns 16,462 shares of the biotechnology company’s stock valued at $357,000 after purchasing an additional 340 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Veracyte by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,778 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 496 shares during the period. Arizona State Retirement System raised its stake in shares of Veracyte by 3.7% during the 2nd quarter. Arizona State Retirement System now owns 20,806 shares of the biotechnology company’s stock valued at $451,000 after buying an additional 733 shares during the last quarter. Finally, Virtus Fund Advisers LLC lifted its holdings in shares of Veracyte by 32.9% in the 3rd quarter. Virtus Fund Advisers LLC now owns 4,798 shares of the biotechnology company’s stock valued at $163,000 after buying an additional 1,189 shares during the period.

Analyst Upgrades and Downgrades

VCYT has been the topic of a number of recent research reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $37.00 price objective (down previously from $38.00) on shares of Veracyte in a research report on Thursday, December 5th. Needham & Company LLC raised their price target on shares of Veracyte from $37.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Leerink Partners increased their target price on shares of Veracyte from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Morgan Stanley lifted their price target on shares of Veracyte from $26.00 to $28.00 and gave the stock an “underweight” rating in a report on Monday, November 18th. Finally, Wolfe Research began coverage on Veracyte in a report on Friday, November 15th. They set an “outperform” rating and a $50.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Veracyte currently has an average rating of “Moderate Buy” and a consensus price target of $41.13.

Veracyte Company Profile

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.