Veracyte, Inc. (NASDAQ:VCYT) Given Average Rating of “Moderate Buy” by Analysts

Veracyte, Inc. (NASDAQ:VCYTGet Rating) has earned an average rating of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $38.57.

Several brokerages have weighed in on VCYT. William Blair reissued an “outperform” rating on shares of Veracyte in a report on Wednesday, November 2nd. Raymond James reduced their price target on shares of Veracyte from $31.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, November 4th. Needham & Company LLC lifted their price objective on shares of Veracyte from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 3rd. SVB Leerink lifted their price objective on shares of Veracyte from $30.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, November 3rd. Finally, Morgan Stanley cut their price objective on shares of Veracyte from $23.00 to $22.00 and set an “underweight” rating on the stock in a research report on Friday, November 4th.

Veracyte Trading Up 7.1 %

VCYT opened at $29.94 on Friday. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of -49.90 and a beta of 1.28. Veracyte has a twelve month low of $14.85 and a twelve month high of $49.80. The company has a fifty day simple moving average of $18.91 and a 200 day simple moving average of $20.45.

Insider Transactions at Veracyte

In related news, insider Giulia C. Kennedy sold 1,023 shares of the company’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $25.00, for a total transaction of $25,575.00. Following the transaction, the insider now owns 68,001 shares in the company, valued at approximately $1,700,025. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.90% of the stock is owned by insiders.

Institutional Trading of Veracyte

A number of large investors have recently bought and sold shares of the business. Credit Suisse AG lifted its holdings in Veracyte by 0.6% during the 3rd quarter. Credit Suisse AG now owns 74,016 shares of the biotechnology company’s stock valued at $1,229,000 after purchasing an additional 454 shares during the last quarter. Synovus Financial Corp grew its position in Veracyte by 3.2% in the second quarter. Synovus Financial Corp now owns 19,417 shares of the biotechnology company’s stock valued at $382,000 after acquiring an additional 611 shares during the last quarter. Teacher Retirement System of Texas grew its position in Veracyte by 4.7% in the first quarter. Teacher Retirement System of Texas now owns 14,482 shares of the biotechnology company’s stock valued at $399,000 after acquiring an additional 650 shares during the last quarter. EFG Asset Management Americas Corp. boosted its stake in shares of Veracyte by 6.1% during the third quarter. EFG Asset Management Americas Corp. now owns 15,154 shares of the biotechnology company’s stock valued at $252,000 after purchasing an additional 872 shares in the last quarter. Finally, Strs Ohio boosted its stake in shares of Veracyte by 2.0% during the third quarter. Strs Ohio now owns 45,600 shares of the biotechnology company’s stock valued at $756,000 after purchasing an additional 900 shares in the last quarter.

Veracyte Company Profile

(Get Rating)

Veracyte, Inc operates as a diagnostics company worldwide. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas, which are used to determine patients with indeterminate results are benign to avoid unnecessary surgery; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Genomic Sequencing Classifier and Percepta Nasal Swab Test for lung cancer diagnosis; Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis; and Immunoscore Colon Cancer test for colon cancer diagnosis.

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Analyst Recommendations for Veracyte (NASDAQ:VCYT)

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