Bonnie H. Anderson Sells 34,000 Shares of Veracyte, Inc. (NASDAQ:VCYT) Stock

Veracyte, Inc. (NASDAQ:VCYT – Get Rating) Director Bonnie H. Anderson sold 34,000 shares of the stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $26.35, for a total value of $895,900.00. Following the sale, the director now owns 62,961 shares of the company’s stock, valued at $1,659,022.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Veracyte Stock Down 7.6 %

VCYT opened at $23.94 on Friday. The stock has a market cap of $1.72 billion, a PE ratio of -39.90 and a beta of 1.43. The business has a 50 day moving average of $26.18 and a 200-day moving average of $23.04. Veracyte, Inc. has a 52 week low of $14.85 and a 52 week high of $33.23.

Veracyte (NASDAQ:VCYT – Get Rating) last released its earnings results on Wednesday, November 2nd. The biotechnology company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.12. Veracyte had a negative return on equity of 4.03% and a negative net margin of 15.25%. The company had revenue of $75.59 million during the quarter, compared to analysts’ expectations of $67.00 million. Equities analysts anticipate that Veracyte, Inc. will post -0.61 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on VCYT shares. StockNews.com cut Veracyte from a “hold” rating to a “sell” rating in a report on Friday. Raymond James cut Veracyte from an “outperform” rating to a “market perform” rating in a report on Wednesday. SVB Leerink increased their price objective on Veracyte from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, November 3rd. William Blair reiterated an “outperform” rating on shares of Veracyte in a report on Wednesday, November 2nd. Finally, Morgan Stanley dropped their price objective on Veracyte from $23.00 to $22.00 and set an “underweight” rating for the company in a report on Friday, November 4th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Veracyte currently has an average rating of “Hold” and a consensus target price of $34.86.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd bought a new stake in shares of Veracyte in the 1st quarter worth $33,000. Assetmark Inc. increased its holdings in shares of Veracyte by 90.3% in the 2nd quarter. Assetmark Inc. now owns 2,596 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 1,232 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Veracyte by 712.9% in the 2nd quarter. Captrust Financial Advisors now owns 3,219 shares of the biotechnology company’s stock worth $64,000 after purchasing an additional 2,823 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Veracyte by 16,813.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 3,721 shares of the biotechnology company’s stock worth $73,000 after purchasing an additional 3,699 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Veracyte in the 1st quarter worth $73,000.

Veracyte Company Profile

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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.