Veracyte, Inc. (VCYT) CEO Bonnie H. Anderson Sells 6,000 Shares
Veracyte, Inc. (NASDAQ:VCYT) CEO Bonnie H. Anderson sold 6,000 shares of Veracyte stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $9.09, for a total transaction of $54,540.00. Following the completion of the transaction, the chief executive officer now owns 16,000 shares in the company, valued at approximately $145,440. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Veracyte, Inc. (VCYT) traded up 1.20% during trading on Friday, hitting $9.30. 269,438 shares of the company traded hands. The firm’s market cap is $315.20 million. Veracyte, Inc. has a one year low of $5.82 and a one year high of $9.80. The firm has a 50 day moving average of $8.61 and a 200 day moving average of $8.24.
Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Monday, July 31st. The biotechnology company reported ($0.22) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.03. Veracyte had a negative net margin of 35.64% and a negative return on equity of 53.58%. The company had revenue of $18.40 million for the quarter, compared to analyst estimates of $18.32 million. During the same quarter in the prior year, the business posted ($0.40) EPS. Veracyte’s quarterly revenue was up 25.2% on a year-over-year basis. On average, analysts expect that Veracyte, Inc. will post ($0.92) earnings per share for the current fiscal year.
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Several institutional investors and hedge funds have recently made changes to their positions in VCYT. SG Americas Securities LLC acquired a new position in shares of Veracyte during the 2nd quarter worth $103,000. Nationwide Fund Advisors increased its stake in shares of Veracyte by 31.9% during the 1st quarter. Nationwide Fund Advisors now owns 11,327 shares of the biotechnology company’s stock worth $104,000 after purchasing an additional 2,739 shares during the last quarter. State of Wisconsin Investment Board acquired a new position in shares of Veracyte during the 2nd quarter worth $142,000. Russell Investments Group Ltd. acquired a new position in shares of Veracyte during the 1st quarter worth $147,000. Finally, Wells Fargo & Company MN increased its stake in shares of Veracyte by 112.8% during the 1st quarter. Wells Fargo & Company MN now owns 18,752 shares of the biotechnology company’s stock worth $172,000 after purchasing an additional 9,938 shares during the last quarter. Institutional investors own 65.67% of the company’s stock.
A number of equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of Veracyte from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. BidaskClub upgraded shares of Veracyte from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 25th. ValuEngine lowered shares of Veracyte from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. BTIG Research reiterated a “buy” rating and issued a $13.00 price target on shares of Veracyte in a report on Thursday, August 31st. Finally, Janney Montgomery Scott reiterated a “buy” rating and issued a $15.00 price target on shares of Veracyte in a report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $12.45.
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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