Veracyte (NASDAQ:VCYT) CFO Rebecca Chambers Sells 13,278 Shares

Veracyte, Inc. (NASDAQ:VCYT) CFO Rebecca Chambers sold 13,278 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $46.84, for a total transaction of $621,941.52. Following the sale, the chief financial officer directly owned 109,496 shares of the company’s stock, valued at $5,128,792.64. The trade was a 10.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Rebecca Chambers also recently made the following trade(s):

• On Wednesday, November 5th, Rebecca Chambers sold 7,000 shares of Veracyte stock. The shares were sold at an average price of $41.00, for a total transaction of $287,000.00.

Veracyte Price Performance

Shares of VCYT stock opened at $46.29 on Friday. The firm has a fifty day moving average of $39.11 and a two-hundred day moving average of $31.88. The firm has a market cap of $3.66 billion, a P/E ratio of 121.64 and a beta of 1.83. Veracyte, Inc. has a 1-year low of $22.61 and a 1-year high of $50.71.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Tuesday, November 4th. The biotechnology company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.19. The business had revenue of $131.87 million for the quarter, compared to analyst estimates of $124.62 million. Veracyte had a net margin of 6.12% and a return on equity of 7.23%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.33 EPS. On average, sell-side analysts expect that Veracyte, Inc. will post 0.68 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on VCYT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Veracyte in a report on Monday. Zacks Research upgraded Veracyte from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Needham & Company LLC lifted their price objective on shares of Veracyte from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Wall Street Zen upgraded shares of Veracyte from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 16th. Finally, Canaccord Genuity Group increased their target price on shares of Veracyte from $40.00 to $43.00 and gave the stock a “hold” rating in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.43.

Hedge Funds Weigh In On Veracyte

Hedge funds and other institutional investors have recently modified their holdings of the company. Champlain Investment Partners LLC acquired a new stake in shares of Veracyte in the 3rd quarter worth about $40,064,000. Nuveen LLC acquired a new position in Veracyte during the 1st quarter valued at about $33,003,000. Artisan Partners Limited Partnership grew its position in Veracyte by 20.7% in the 2nd quarter. Artisan Partners Limited Partnership now owns 6,321,775 shares of the biotechnology company’s stock worth $170,878,000 after purchasing an additional 1,082,064 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of Veracyte by 770.6% in the second quarter. Squarepoint Ops LLC now owns 897,387 shares of the biotechnology company’s stock valued at $24,256,000 after purchasing an additional 794,307 shares during the period. Finally, Fred Alger Management LLC acquired a new stake in shares of Veracyte in the third quarter valued at approximately $26,348,000.

Veracyte Company Profile

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.