Veracyte, Inc. (NASDAQ:VCYT) Director Jens Holstein Sells 8,720 Shares

Veracyte, Inc. (NASDAQ:VCYT – Get Rating) Director Jens Holstein sold 8,720 shares of Veracyte stock in a transaction on Tuesday, June 14th. The shares were sold at an average price of $16.27, for a total transaction of $141,874.40. Following the completion of the sale, the director now owns 2,000 shares in the company, valued at $32,540. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Veracyte stock opened at $16.97 on Friday. Veracyte, Inc. has a 1 year low of $14.85 and a 1 year high of $54.13. The firm has a 50-day moving average of $19.75 and a two-hundred day moving average of $27.56.

Veracyte (NASDAQ:VCYT – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.03. The company had revenue of $67.78 million during the quarter, compared to analysts’ expectations of $61.98 million. Veracyte had a negative net margin of 19.22% and a negative return on equity of 4.09%. During the same period in the previous year, the company earned ($0.11) EPS. As a group, research analysts expect that Veracyte, Inc. will post -0.86 earnings per share for the current fiscal year.

A number of analysts have issued reports on the stock. Raymond James reduced their price target on shares of Veracyte from $62.00 to $34.00 and set an “outperform” rating on the stock in a report on Tuesday, March 1st. Lake Street Capital reduced their target price on shares of Veracyte from $95.00 to $50.00 in a report on Tuesday, March 1st. Needham & Company LLC reduced their target price on shares of Veracyte from $31.00 to $26.00 in a report on Wednesday, May 4th. SVB Leerink reduced their target price on shares of Veracyte from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Tuesday, March 1st. Finally, StockNews.com began coverage on shares of Veracyte in a report on Thursday, March 31st. They issued a “sell” rating on the stock. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $42.14.

Several institutional investors and hedge funds have recently made changes to their positions in the company. ARK Investment Management LLC lifted its position in shares of Veracyte by 6.5% in the 1st quarter. ARK Investment Management LLC now owns 8,756,024 shares of the biotechnology company’s stock worth $241,404,000 after purchasing an additional 533,743 shares during the period. Wellington Management Group LLP lifted its position in shares of Veracyte by 84.3% in the 3rd quarter. Wellington Management Group LLP now owns 5,069,351 shares of the biotechnology company’s stock worth $235,471,000 after purchasing an additional 2,319,050 shares during the period. Invesco Ltd. lifted its position in shares of Veracyte by 0.4% in the 1st quarter. Invesco Ltd. now owns 4,131,597 shares of the biotechnology company’s stock worth $113,908,000 after purchasing an additional 17,566 shares during the period. State Street Corp raised its stake in shares of Veracyte by 45.5% during the 1st quarter. State Street Corp now owns 3,945,870 shares of the biotechnology company’s stock worth $108,788,000 after acquiring an additional 1,234,244 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Veracyte by 5.6% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,121,103 shares of the biotechnology company’s stock worth $128,589,000 after acquiring an additional 164,724 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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