Insider Selling: Veracyte, Inc. (NASDAQ:VCYT) Director Sells $145,000.00 in Stock

Veracyte, Inc. (NASDAQ:VCYT) Director Jens Holstein sold 5,000 shares of Veracyte stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $29.00, for a total value of $145,000.00. Following the sale, the director now directly owns 27,878 shares in the company, valued at $808,462. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Veracyte Stock Down 2.3 %

Shares of VCYT opened at $29.27 on Monday. Veracyte, Inc. has a 52 week low of $18.61 and a 52 week high of $30.86. The stock has a market cap of $2.24 billion, a P/E ratio of -31.14 and a beta of 1.65. The business’s 50 day moving average price is $22.66 and its 200-day moving average price is $22.39.

Veracyte (NASDAQ:VCYT) last released its earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.10. The business had revenue of $114.43 million for the quarter, compared to the consensus estimate of $100.27 million. Veracyte had a positive return on equity of 1.54% and a negative net margin of 13.52%. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.12) earnings per share. On average, equities analysts anticipate that Veracyte, Inc. will post -0.05 EPS for the current year.

Institutional Trading of Veracyte

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Champlain Investment Partners LLC lifted its stake in shares of Veracyte by 23.3% in the first quarter. Champlain Investment Partners LLC now owns 2,697,600 shares of the biotechnology company’s stock worth $59,779,000 after buying an additional 509,340 shares in the last quarter. William Blair Investment Management LLC lifted its position in Veracyte by 67.4% in the 2nd quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company’s stock valued at $26,907,000 after acquiring an additional 500,020 shares in the last quarter. Norges Bank purchased a new stake in Veracyte during the 4th quarter valued at $11,190,000. Bamco Inc. NY boosted its stake in Veracyte by 46.3% during the 1st quarter. Bamco Inc. NY now owns 1,115,806 shares of the biotechnology company’s stock valued at $24,726,000 after purchasing an additional 353,000 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Veracyte by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company’s stock worth $163,649,000 after purchasing an additional 266,660 shares in the last quarter.

Analyst Ratings Changes

VCYT has been the subject of a number of research analyst reports. Needham & Company LLC raised their target price on Veracyte from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group lowered their price objective on Veracyte from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Veracyte currently has an average rating of “Moderate Buy” and a consensus price target of $28.50.

About Veracyte

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.