Insider Selling: Veracyte, Inc. (NASDAQ:VCYT) Director Sells $32,319.00 in Stock

Veracyte, Inc. (NASDAQ:VCYTGet Free Report) Director Muna Bhanji sold 1,539 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $21.00, for a total value of $32,319.00. Following the sale, the director now owns 26,975 shares of the company’s stock, valued at $566,475. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Veracyte Price Performance

VCYT opened at $20.75 on Friday. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $30.52. The business has a 50-day moving average of $20.83 and a 200-day moving average of $23.79. The company has a market capitalization of $1.59 billion, a PE ratio of -22.07 and a beta of 1.65.

Veracyte (NASDAQ:VCYTGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.17. Veracyte had a negative return on equity of 1.42% and a negative net margin of 18.16%. The business had revenue of $96.84 million for the quarter, compared to the consensus estimate of $93.35 million. During the same period last year, the business earned ($0.11) EPS. The firm’s revenue was up 17.5% compared to the same quarter last year. On average, equities research analysts expect that Veracyte, Inc. will post -0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on VCYT shares. The Goldman Sachs Group decreased their price objective on Veracyte from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, April 15th. Morgan Stanley decreased their price objective on Veracyte from $22.00 to $21.00 and set an “underweight” rating for the company in a research report on Monday, February 26th. William Blair reaffirmed an “outperform” rating on shares of Veracyte in a research note on Friday, February 23rd. Finally, Needham & Company LLC cut their price target on Veracyte from $33.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Veracyte currently has a consensus rating of “Moderate Buy” and an average price target of $27.50.

View Our Latest Research Report on VCYT

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co raised its stake in shares of Veracyte by 6.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 8,198 shares of the biotechnology company’s stock valued at $182,000 after acquiring an additional 530 shares in the last quarter. Diversified Trust Co raised its stake in shares of Veracyte by 4.0% in the 4th 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. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Veracyte by 3.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,141 shares of the biotechnology company’s stock valued at $554,000 after acquiring an additional 711 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Veracyte by 9.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,325 shares of the biotechnology company’s stock valued at $207,000 after acquiring an additional 778 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its position in Veracyte by 3.4% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 36,463 shares of the biotechnology company’s stock worth $814,000 after buying an additional 1,204 shares during the period.

About Veracyte

(Get Free Report)

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.

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