Veracyte (NASDAQ:VCYT) Price Target Lowered to $28.00 at The Goldman Sachs Group

Veracyte (NASDAQ:VCYT) had its price target lowered by The Goldman Sachs Group from $32.00 to $28.00 in a research report released on Monday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the biotechnology company’s stock.

VCYT has been the subject of several other reports. Morgan Stanley reduced their price target on Veracyte from $22.00 to $21.00 and set an underweight rating for the company in a report on Monday, February 26th. William Blair reissued an outperform rating on shares of Veracyte in a report on Friday, February 23rd. Finally, Needham & Company LLC lifted their price objective on Veracyte from $30.00 to $33.00 and gave the stock a buy rating in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $29.00.

Veracyte Trading Down 4.3 %

Veracyte stock opened at $19.37 on Monday. The stock has a 50 day moving average of $22.73 and a two-hundred day moving average of $24.06. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -18.81 and a beta of 1.62. Veracyte has a twelve month low of $19.12 and a twelve month high of $30.52.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.03. The business had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $95.49 million. Veracyte had a negative return on equity of 2.02% and a negative net margin of 20.61%. Equities analysts predict that Veracyte will post -0.29 earnings per share for the current year.

Insider Buying and Selling

In other Veracyte news, Director Karin Eastham sold 10,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $21.65, for a total transaction of $216,500.00. Following the completion of the transaction, the director now owns 33,125 shares of the company’s stock, valued at $717,156.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Veracyte

Hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new stake in Veracyte during the first quarter valued at about $27,000. Point72 Hong Kong Ltd bought a new position in Veracyte in the 1st quarter worth approximately $33,000. International Assets Investment Management LLC bought a new position in Veracyte in the 3rd quarter worth approximately $38,000. China Universal Asset Management Co. Ltd. lifted its position in Veracyte by 96.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,862 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 913 shares during the period. Finally, CWM LLC lifted its position in shares of Veracyte by 533.0% during the 3rd quarter. CWM LLC now owns 2,146 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 1,807 shares during the last quarter.

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.