Karin Eastham Sells 10,000 Shares of Veracyte, Inc. (NASDAQ:VCYT) Stock

Veracyte, Inc. (NASDAQ:VCYTGet Free Report) Director Karin Eastham sold 10,000 shares of Veracyte stock in a transaction on Monday, April 1st. The stock was sold at an average price of $21.65, for a total transaction of $216,500.00. Following the sale, the director now owns 33,125 shares in the company, valued at approximately $717,156.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Veracyte Stock Performance

Shares of NASDAQ VCYT opened at $20.63 on Thursday. The stock has a market cap of $1.51 billion, a PE ratio of -20.03 and a beta of 1.62. The business has a fifty day moving average of $23.46 and a two-hundred day moving average of $24.18. Veracyte, Inc. has a 52-week low of $19.52 and a 52-week high of $30.52.

Veracyte (NASDAQ:VCYTGet Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. Veracyte had a negative return on equity of 2.02% and a negative net margin of 20.61%. The company had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $95.49 million. Analysts predict that Veracyte, Inc. will post -0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Dark Forest Capital Management LP bought a new position in shares of Veracyte in the third quarter valued at about $506,000. ARK Investment Management LLC raised its holdings in shares of Veracyte by 0.8% in the fourth quarter. ARK Investment Management LLC now owns 7,655,603 shares of the biotechnology company’s stock valued at $210,606,000 after buying an additional 62,011 shares during the last quarter. Diversified Trust Co raised its holdings in shares of Veracyte by 4.0% in the fourth quarter. Diversified Trust Co now owns 14,810 shares of the biotechnology company’s stock valued at $407,000 after buying an additional 575 shares during the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of Veracyte by 55.5% in the third quarter. Qube Research & Technologies Ltd now owns 166,732 shares of the biotechnology company’s stock valued at $3,723,000 after buying an additional 59,484 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Veracyte by 96.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,862 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 913 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on VCYT shares. Morgan Stanley decreased their price target on shares of Veracyte from $22.00 to $21.00 and set an “underweight” rating on the stock in a research note on Monday, February 26th. Needham & Company LLC lifted their price target on shares of Veracyte from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, William Blair reiterated an “outperform” rating on shares of Veracyte in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

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About Veracyte

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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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