Veracyte (NASDAQ:VCYT) SVP Annie Mcguire Sells 10,204 Shares of Stock

Veracyte, Inc. (NASDAQ:VCYT) SVP Annie Mcguire sold 10,204 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $39.02, for a total value of $398,160.08. Following the completion of the transaction, the senior vice president owned 143,708 shares in the company, valued at approximately $5,607,486.16. This trade represents a 6.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Annie Mcguire also recently made the following trade(s):

• On Wednesday, March 4th, Annie Mcguire sold 6,658 shares of Veracyte stock. The stock was sold at an average price of $35.55, for a total value of $236,691.90.

Veracyte Stock Performance

NASDAQ:VCYT opened at $40.42 on Friday. Veracyte, Inc. has a one year low of $22.61 and a one year high of $50.71. The business’s 50-day simple moving average is $33.54 and its 200 day simple moving average is $38.23. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 37.08 and a beta of 1.89.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.34 by $0.18. Veracyte had a return on equity of 9.07% and a net margin of 16.25%.The business had revenue of $139.07 million for the quarter, compared to analysts’ expectations of $130.36 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The company’s revenue was up 21.5% compared to the same quarter last year. On average, equities research analysts predict that Veracyte, Inc. will post 1.21 EPS for the current year.

Wall Street Analysts Forecast Growth

VCYT has been the topic of several recent analyst reports. Morgan Stanley cut their price target on Veracyte from $48.00 to $37.00 and set an “underweight” rating on the stock in a research note on Thursday, March 5th. Zacks Research cut Veracyte from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Veracyte in a research note on Friday, March 27th. Canaccord Genuity Group upped their price objective on Veracyte from $40.00 to $42.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, UBS Group upped their price objective on Veracyte from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $44.83.

Institutional Trading of Veracyte

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Veracyte by 5.0% during the third quarter. Vanguard Group Inc. now owns 8,504,088 shares of the biotechnology company’s stock valued at $291,945,000 after purchasing an additional 403,737 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Veracyte by 16.6% during the third quarter. Artisan Partners Limited Partnership now owns 7,370,467 shares of the biotechnology company’s stock valued at $253,028,000 after purchasing an additional 1,048,692 shares during the last quarter. ARK Investment Management LLC grew its holdings in shares of Veracyte by 17.5% during the third quarter. ARK Investment Management LLC now owns 4,465,775 shares of the biotechnology company’s stock valued at $153,310,000 after purchasing an additional 665,686 shares during the last quarter. State Street Corp grew its holdings in shares of Veracyte by 3.8% during the fourth quarter. State Street Corp now owns 4,360,913 shares of the biotechnology company’s stock valued at $183,594,000 after purchasing an additional 161,239 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Veracyte by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 3,118,166 shares of the biotechnology company’s stock valued at $107,042,000 after purchasing an additional 95,664 shares during the last quarter.

About Veracyte

Veracyte, Inc is a genomic diagnostics company focused on improving diagnostic accuracy and patient care through advanced molecular testing. Founded in 2008 and headquartered in South San Francisco, California, the company develops and commercializes minimally invasive genomic tests that aid in the diagnosis of thyroid, lung and other diseases. Veracyte’s proprietary platform analyzes gene expression patterns in clinical samples to help physicians make more informed treatment decisions, reducing unnecessary surgeries and improving patient outcomes.

The company’s flagship product, the Afirma Genomic Sequencing Classifier, is designed to assess thyroid nodules with indeterminate cytology, helping clinicians distinguish benign from suspicious nodules.