Veracyte, Inc. (NASDAQ:VCYT) Director Sells $182,244.79 in Stock

Veracyte, Inc. (NASDAQ:VCYT) Director Evan/ Fa Jones sold 5,173 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $35.23, for a total transaction of $182,244.79. Following the completion of the transaction, the director now owns 34,343 shares in the company, valued at $1,209,903.89. The transaction was disclosed in a filing with the SEC, which is available at this link.

Evan/ Fa Jones also recently made the following trade(s):

• On Tuesday, August 13th, Evan/ Fa Jones sold 20,457 shares of Veracyte stock. The shares were sold at an average price of $32.20, for a total transaction of $658,715.40.
• On Friday, August 9th, Evan/ Fa Jones sold 1,032 shares of Veracyte stock. The stock was sold at an average price of $30.03, for a total transaction of $30,990.96.

Veracyte Stock Performance

Shares of VCYT stock opened at $33.35 on Thursday. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of -35.48 and a beta of 1.66. Veracyte, Inc. has a one year low of $18.61 and a one year high of $35.51. The company has a 50 day moving average price of $29.24 and a 200 day moving average price of $24.08.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.10. The business had revenue of $114.43 million during the quarter, compared to the consensus estimate of $100.27 million. Veracyte had a positive return on equity of 1.52% and a negative net margin of 13.52%. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.12) EPS. As a group, equities analysts forecast that Veracyte, Inc. will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Veracyte

A number of large investors have recently modified their holdings of the company. Blue Trust Inc. increased its position in Veracyte by 2,331.6% during the 2nd quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 1,329 shares in the last quarter. CWM LLC increased its position in shares of Veracyte by 168.3% in the second quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 951 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Veracyte in the 2nd quarter valued at $58,000. Signature Resources Capital Management LLC purchased a new position in shares of Veracyte in the 2nd quarter valued at $83,000. Finally, nVerses Capital LLC acquired a new position in shares of Veracyte during the 2nd quarter valued at $85,000.

Wall Street Analysts Forecast Growth

VCYT has been the topic of a number of recent analyst reports. Needham & Company LLC increased their price target on Veracyte from $31.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Morgan Stanley upped their target price on Veracyte from $21.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.25.

Veracyte Company Profile

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.