Veracyte, Inc. (NASDAQ:VCYT) insider Christopher M. Hall sold 20,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $9.00, for a total transaction of $180,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Veracyte, Inc. (NASDAQ VCYT) traded down 2.13% during trading on Wednesday, reaching $9.17. 150,695 shares of the company’s stock traded hands. Veracyte, Inc. has a one year low of $5.82 and a one year high of $9.71. The company has a 50 day moving average of $8.24 and a 200 day moving average of $8.23. The firm’s market cap is $310.80 million.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Monday, July 31st. The biotechnology company reported ($0.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.03. Veracyte had a negative return on equity of 53.58% and a negative net margin of 35.64%. The business had revenue of $18.40 million for the quarter, compared to analyst estimates of $18.32 million. During the same quarter in the previous year, the firm earned ($0.40) earnings per share. The company’s revenue was up 25.2% on a year-over-year basis. Equities research analysts predict that Veracyte, Inc. will post ($0.92) EPS for the current year.

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Several analysts recently commented on the stock. Zacks Investment Research raised shares of Veracyte from a “hold” rating to a “buy” rating and set a $9.25 price objective on the stock in a research report on Friday, August 4th. ValuEngine downgraded shares of Veracyte from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Piper Jaffray Companies reissued a “buy” rating on shares of Veracyte in a research report on Tuesday, September 12th. BidaskClub raised shares of Veracyte from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Finally, BTIG Research reissued a “buy” rating and set a $13.00 price objective on shares of Veracyte in a research report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $12.45.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in Veracyte by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 61,312 shares of the biotechnology company’s stock valued at $563,000 after buying an additional 1,795 shares during the last quarter. Nationwide Fund Advisors boosted its position in Veracyte by 16.8% in the second quarter. Nationwide Fund Advisors now owns 13,235 shares of the biotechnology company’s stock valued at $110,000 after buying an additional 1,908 shares during the last quarter. Birchview Capital LP boosted its position in Veracyte by 4.2% in the second quarter. Birchview Capital LP now owns 98,767 shares of the biotechnology company’s stock valued at $823,000 after buying an additional 4,000 shares during the last quarter. Denver Investment Advisors LLC boosted its position in Veracyte by 6.6% in the second quarter. Denver Investment Advisors LLC now owns 82,193 shares of the biotechnology company’s stock valued at $685,000 after buying an additional 5,115 shares during the last quarter. Finally, Strs Ohio boosted its position in Veracyte by 26.1% in the second quarter. Strs Ohio now owns 37,200 shares of the biotechnology company’s stock valued at $309,000 after buying an additional 7,700 shares during the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.

About Veracyte

Veracyte, Inc is a genomic diagnostics company. The Company uses genomic technology to resolve diagnostic ambiguity. It targets diseases in which patients undergo invasive diagnostic procedures. Its products combine genomic technology, clinical science and machine learning. The Company commercializes over three genomic tests, which are transforming the diagnosis of thyroid cancer, lung cancer and idiopathic pulmonary fibrosis.

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