Veracyte (NASDAQ:VCYT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday, Zacks.com reports.

According to Zacks, “Veracyte, Inc. is a diagnostics company. It is focused on discovering, developing and commercializing molecular cytology solutions. The Company provides Afirma Thyroid FNA Analysis, which helps physicians in reducing unnecessary diagnostic surgeries for patients with thyroid nodules. Veracyte is also developing Afirma Malignant GEC test. It serves endocrinologists, radiologists, and head and neck specialists. Veracyte, Inc. is headquartered in South San Francisco, California. “

VCYT has been the topic of several other reports. Lake Street Capital reissued a “buy” rating and issued a $35.00 price objective on shares of Veracyte in a research report on Wednesday, December 4th. ValuEngine raised Veracyte from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. BidaskClub raised Veracyte from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. Finally, Needham & Company LLC restated a “buy” rating and set a $34.00 target price on shares of Veracyte in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Veracyte currently has a consensus rating of “Hold” and a consensus price target of $32.67.

NASDAQ:VCYT traded down $1.07 during mid-day trading on Friday, hitting $27.49. The company had a trading volume of 15,390 shares, compared to its average volume of 413,960. The business has a fifty day simple moving average of $28.69 and a 200-day simple moving average of $26.48. Veracyte has a 1 year low of $16.88 and a 1 year high of $31.18. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -137.99 and a beta of 1.19.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Tuesday, October 22nd. The biotechnology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.05. Veracyte had a negative return on equity of 5.33% and a negative net margin of 7.08%. The company had revenue of $30.97 million for the quarter, compared to analyst estimates of $30.41 million. As a group, sell-side analysts forecast that Veracyte will post -0.19 EPS for the current year.

In other news, Director Evan/ Fa Jones sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $28.50, for a total transaction of $142,500.00. Following the completion of the sale, the director now directly owns 25,000 shares in the company, valued at $712,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bonnie H. Anderson sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $25.06, for a total value of $501,200.00. Following the sale, the chief executive officer now owns 123,726 shares of the company’s stock, valued at $3,100,573.56. The disclosure for this sale can be found here. Insiders have sold 150,653 shares of company stock valued at $4,173,266 over the last 90 days. Insiders own 8.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. FTB Advisors Inc. grew its stake in shares of Veracyte by 80.4% during the fourth quarter. FTB Advisors Inc. now owns 996 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 444 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Veracyte by 1,433.3% in the third quarter. Tower Research Capital LLC TRC now owns 1,150 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 1,075 shares in the last quarter. US Bancorp DE grew its stake in Veracyte by 540.9% in the second quarter. US Bancorp DE now owns 2,916 shares of the biotechnology company’s stock worth $83,000 after purchasing an additional 2,461 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in Veracyte in the fourth quarter worth about $82,000. Finally, Convergence Investment Partners LLC grew its stake in Veracyte by 13.3% in the third quarter. Convergence Investment Partners LLC now owns 5,918 shares of the biotechnology company’s stock worth $142,000 after purchasing an additional 695 shares in the last quarter.

About Veracyte

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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