Insider Selling: Veracyte, Inc. (NASDAQ:VCYT) Director Sells 10,000 Shares of Stock

Veracyte, Inc. (NASDAQ:VCYT) Director Karin Eastham sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total transaction of $403,000.00. Following the completion of the sale, the director now owns 18,497 shares of the company’s stock, valued at approximately $745,429.10. This trade represents a 35.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Veracyte Stock Up 3.6 %

Veracyte stock traded up $1.50 during mid-day trading on Monday, hitting $43.41. 1,004,115 shares of the company were exchanged, compared to its average volume of 679,638. The company has a market capitalization of $3.36 billion, a PE ratio of -289.40 and a beta of 1.71. The business has a fifty day moving average of $40.10 and a 200 day moving average of $32.82. Veracyte, Inc. has a 1-year low of $18.61 and a 1-year high of $46.00.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.16. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The firm had revenue of $115.86 million during the quarter, compared to analysts’ expectations of $109.81 million. During the same period last year, the firm posted ($0.03) EPS. The business’s revenue was up 28.6% on a year-over-year basis. Research analysts expect that Veracyte, Inc. will post 0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on VCYT shares. Guggenheim started coverage on Veracyte in a report on Thursday, October 10th. They issued a “buy” rating and a $40.00 target price for the company. Scotiabank increased their price target on Veracyte from $40.00 to $44.00 and gave the company a “sector outperform” rating in a report on Friday, November 8th. Wolfe Research initiated coverage on shares of Veracyte in a research note on Friday, November 15th. They set an “outperform” rating and a $50.00 target price for the company. UBS Group raised their price target on shares of Veracyte from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $37.00 price objective (down previously from $38.00) on shares of Veracyte in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.13.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in Veracyte in the 2nd quarter worth approximately $58,000. Castleview Partners LLC acquired a new position in shares of Veracyte during the third quarter valued at $87,000. Values First Advisors Inc. bought a new position in Veracyte in the third quarter valued at about $91,000. KBC Group NV increased its position in Veracyte by 13.7% in the third quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock worth $91,000 after purchasing an additional 323 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Veracyte by 21.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,778 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 496 shares during the period.

Veracyte Company Profile

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.