Key Points
- CFO Rebecca Chambers sold 13,278 shares on Dec. 4 at an average of $46.84 for about $621,942, cutting her holdings to 109,496 shares—a 10.81% reduction.
- Veracyte recently beat quarterly estimates (EPS $0.51 vs. $0.32, revenue $131.9M vs. $124.6M), and analysts/institutions remain broadly positive with a "Moderate Buy" consensus and an average target of $45.43.
Veracyte, Inc. (NASDAQ:VCYT - Get Free Report) insider John Leite sold 1,278 shares of the business's stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $47.51, for a total value of $60,717.78. Following the completion of the sale, the insider owned 82,113 shares of the company's stock, valued at $3,901,188.63. This trade represents a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
John Leite also recently made the following trade(s):
- On Tuesday, November 25th, John Leite sold 2,808 shares of Veracyte stock. The stock was sold at an average price of $50.00, for a total value of $140,400.00.
Veracyte Stock Down 2.7%
Shares of VCYT traded down $1.30 during midday trading on Friday, reaching $46.11. 160,407 shares of the stock were exchanged, compared to its average volume of 1,098,366. The stock's 50 day simple moving average is $39.11 and its 200 day simple moving average is $31.88. The company has a market cap of $3.64 billion, a P/E ratio of 121.07 and a beta of 1.83. Veracyte, Inc. has a twelve month low of $22.61 and a twelve month high of $50.71.
Veracyte (NASDAQ:VCYT - Get Free Report) last released its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.32 by $0.19. Veracyte had a net margin of 6.12% and a return on equity of 7.23%. The business had revenue of $131.87 million for the quarter, compared to the consensus estimate of $124.62 million. During the same period in the prior year, the company posted $0.33 earnings per share. Veracyte's revenue was up 13.8% compared to the same quarter last year. As a group, analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the stock. Canaccord Genuity Group raised their target price on shares of Veracyte from $40.00 to $43.00 and gave the stock a "hold" rating in a report on Wednesday, November 5th. Wall Street Zen raised Veracyte from a "buy" rating to a "strong-buy" rating in a research report on Sunday, November 16th. Needham & Company LLC lifted their price objective on Veracyte from $41.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, November 5th. Zacks Research upgraded Veracyte from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Veracyte in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Veracyte currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.43.
Read Our Latest Analysis on VCYT
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in VCYT. First Horizon Corp purchased a new stake in shares of Veracyte during the third quarter valued at approximately $31,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Veracyte in the 2nd quarter valued at $25,000. Osaic Holdings Inc. grew its stake in Veracyte by 289.9% in the 2nd quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company's stock valued at $33,000 after purchasing an additional 893 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Veracyte during the 1st quarter valued at $48,000. Finally, Neo Ivy Capital Management bought a new stake in shares of Veracyte during the 3rd quarter worth $56,000.
About Veracyte
(
Get Free Report)
Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm's portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.
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