Veracyte, Inc. (NASDAQ:VCYT) CAO Sells $215,822.48 in Stock

Veracyte, Inc. (NASDAQ:VCYT) CAO Jonathan Wygant sold 5,032 shares of Veracyte stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $42.89, for a total transaction of $215,822.48. Following the completion of the sale, the chief accounting officer now owns 42,313 shares in the company, valued at $1,814,804.57. The trade was a 10.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Veracyte Price Performance

VCYT stock opened at $42.95 on Monday. Veracyte, Inc. has a one year low of $18.61 and a one year high of $44.16. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of -286.33 and a beta of 1.67. The company has a fifty day moving average price of $35.70 and a two-hundred day moving average price of $29.07.

Veracyte (NASDAQ:VCYT) last announced its earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.03 by $0.16. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The business had revenue of $115.86 million during the quarter, compared to the consensus estimate of $109.81 million. Veracyte’s revenue was up 28.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.03) EPS. Research analysts anticipate that Veracyte, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Veracyte

A number of institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new stake in Veracyte during the 2nd quarter worth approximately $12,279,000. William Blair Investment Management LLC lifted its holdings in shares of Veracyte by 67.4% during the second quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company’s stock worth $26,907,000 after buying an additional 500,020 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Veracyte by 288.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 360,871 shares of the biotechnology company’s stock valued at $12,284,000 after acquiring an additional 268,000 shares during the period. Vanguard Group Inc. grew its stake in shares of Veracyte by 3.7% in the first quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company’s stock valued at $163,649,000 after acquiring an additional 266,660 shares in the last quarter. Finally, Jane Street Group LLC increased its position in Veracyte by 276.4% during the third quarter. Jane Street Group LLC now owns 301,652 shares of the biotechnology company’s stock worth $10,268,000 after acquiring an additional 221,504 shares during the period.

Analysts Set New Price Targets

VCYT has been the topic of a number of recent research reports. Wolfe Research began coverage on Veracyte in a research report on Friday, November 15th. They issued an “outperform” rating and a $50.00 target price on the stock. Scotiabank boosted their price target on Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 8th. Needham & Company LLC increased their price objective on Veracyte from $37.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group raised their target price on shares of Veracyte from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Guggenheim initiated coverage on shares of Veracyte in a research report on Thursday, October 10th. They set a “buy” rating and a $40.00 price target on the stock. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.25.

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.