Veracyte Inc (NASDAQ:VCYT) CEO Bonnie H. Anderson sold 11,365 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $32.24, for a total transaction of $366,407.60. Following the sale, the chief executive officer now directly owns 283,572 shares in the company, valued at $9,142,361.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of NASDAQ VCYT opened at $35.67 on Friday. The firm has a 50-day simple moving average of $27.75 and a 200-day simple moving average of $25.60. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -77.54 and a beta of 0.84. Veracyte Inc has a 52 week low of $13.90 and a 52 week high of $36.42.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Thursday, July 30th. The biotechnology company reported ($0.22) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.22). Veracyte had a negative net margin of 18.36% and a negative return on equity of 9.68%. The business had revenue of $20.70 million during the quarter, compared to analysts’ expectations of $17.56 million. Equities research analysts expect that Veracyte Inc will post -0.67 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. acquired a new stake in Veracyte during the first quarter worth about $51,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Veracyte by 34.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,674 shares of the biotechnology company’s stock worth $89,000 after purchasing an additional 938 shares during the last quarter. Arden Trust Co acquired a new stake in Veracyte during the first quarter worth about $91,000. Strs Ohio increased its position in Veracyte by 10.3% during the second quarter. Strs Ohio now owns 4,300 shares of the biotechnology company’s stock worth $111,000 after purchasing an additional 400 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Veracyte by 33.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,921 shares of the biotechnology company’s stock worth $127,000 after purchasing an additional 1,247 shares during the last quarter.

A number of equities analysts have weighed in on VCYT shares. SVB Leerink upped their price objective on shares of Veracyte from $32.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday. Lake Street Capital upped their price objective on shares of Veracyte from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday. Zacks Investment Research upgraded shares of Veracyte from a “sell” rating to a “hold” rating in a research report on Thursday, July 16th. Needham & Company LLC upped their price objective on shares of Veracyte from $30.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday. Finally, BidaskClub upgraded shares of Veracyte from a “hold” rating to a “buy” rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Veracyte currently has a consensus rating of “Buy” and a consensus target price of $35.75.

Veracyte Company Profile

Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.

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