Veracyte, Inc. (VCYT) Director Sells $175,725.00 in Stock
Veracyte, Inc. (NASDAQ:VCYT) Director Evan/ Fa Jones sold 22,500 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $7.81, for a total value of $175,725.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Evan/ Fa Jones also recently made the following trade(s):
- On Wednesday, August 23rd, Evan/ Fa Jones sold 20,000 shares of Veracyte stock. The shares were sold at an average price of $7.92, for a total value of $158,400.00.
- On Thursday, August 24th, Evan/ Fa Jones sold 40,000 shares of Veracyte stock. The shares were sold at an average price of $7.88, for a total value of $315,200.00.
Veracyte, Inc. (NASDAQ VCYT) opened at 8.19 on Friday. The company’s market cap is $277.58 million. Veracyte, Inc. has a 52-week low of $5.57 and a 52-week high of $9.71. The stock’s 50 day moving average price is $8.07 and its 200-day moving average price is $8.25.
Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Monday, July 31st. The biotechnology company reported ($0.22) earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $18.32 million. During the same period in the previous year, the firm posted ($0.40) earnings per share. The company’s revenue was up 25.2% on a year-over-year basis. On average, equities analysts predict that Veracyte, Inc. will post ($0.93) earnings per share for the current fiscal year.
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Several large investors have recently modified their holdings of VCYT. Cortina Asset Management LLC purchased a new stake in shares of Veracyte during the first quarter worth $4,640,000. Cannell Capital LLC boosted its position in Veracyte by 48.4% in the first quarter. Cannell Capital LLC now owns 1,601,960 shares of the biotechnology company’s stock valued at $14,706,000 after buying an additional 522,373 shares during the last quarter. William Marsh Rice University bought a new position in Veracyte during the first quarter valued at approximately $127,000. Highbridge Capital Management LLC boosted its position in Veracyte by 71.0% in the first quarter. Highbridge Capital Management LLC now owns 24,897 shares of the biotechnology company’s stock valued at $229,000 after buying an additional 10,337 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Veracyte by 111.1% in the first quarter. JPMorgan Chase & Co. now owns 49,765 shares of the biotechnology company’s stock valued at $456,000 after buying an additional 26,186 shares during the last quarter. 65.67% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have commented on the company. Cantor Fitzgerald set a $13.00 price objective on Veracyte and gave the company a “buy” rating in a research report on Thursday, May 18th. Zacks Investment Research raised 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. Janney Montgomery Scott reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Veracyte in a research report on Wednesday, June 28th. BidaskClub raised Veracyte from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Veracyte in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Veracyte presently has a consensus rating of “Buy” and an average price target of $12.45.
Veracyte Company Profile
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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