ValuEngine lowered shares of Veracyte (NASDAQ:VCYT) from a strong-buy rating to a buy rating in a research note issued to investors on Friday morning.

Several other equities research analysts have also weighed in on the stock. BidaskClub lowered shares of Veracyte from a strong-buy rating to a buy rating in a report on Friday, September 7th. Piper Jaffray Companies raised their price objective on shares of Veracyte to $11.00 and gave the stock a neutral rating in a report on Tuesday, July 24th. Finally, Zacks Investment Research upgraded shares of Veracyte from a sell rating to a hold rating in a report on Thursday, May 24th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $11.50.

VCYT opened at $10.31 on Friday. The company has a current ratio of 4.01, a quick ratio of 3.71 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $346.37 million, a price-to-earnings ratio of -11.33 and a beta of 1.79. Veracyte has a twelve month low of $5.23 and a twelve month high of $12.86.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Monday, July 23rd. The biotechnology company reported ($0.18) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.09. The company had revenue of $22.75 million for the quarter, compared to analyst estimates of $20.67 million. Veracyte had a negative net margin of 38.69% and a negative return on equity of 91.03%. research analysts predict that Veracyte will post -0.9 earnings per share for the current year.

In related news, Chairman Bonnie H. Anderson sold 6,000 shares of the firm’s stock in a transaction on Monday, July 23rd. The shares were sold at an average price of $10.20, for a total transaction of $61,200.00. Following the sale, the chairman now directly owns 58,541 shares in the company, valued at $597,118.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher M. Hall sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $12.00, for a total transaction of $240,000.00. Following the sale, the insider now owns 36,692 shares in the company, valued at $440,304. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 606,950 shares of company stock worth $6,569,625. 13.70% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. GSA Capital Partners LLP acquired a new stake in shares of Veracyte during the second quarter worth $171,000. Bank of Montreal Can acquired a new stake in shares of Veracyte during the second quarter worth $182,000. Sigma Planning Corp acquired a new stake in shares of Veracyte during the second quarter worth $217,000. Engineers Gate Manager LP acquired a new stake in shares of Veracyte during the second quarter worth $231,000. Finally, Highland Capital Management LP raised its holdings in shares of Veracyte by 61.6% during the second quarter. Highland Capital Management LP now owns 40,400 shares of the biotechnology company’s stock worth $377,000 after acquiring an additional 15,400 shares during the period. Institutional investors and hedge funds own 71.54% of the company’s stock.

About Veracyte

Veracyte, Inc operates as a genomic diagnostics company in the United States. The company uses genomic technology to resolve diagnostic uncertainty. It offers Afirma Thyroid FNA Analysis solution; cytopathology testing services; and the Afirma Malignancy Classifiers to manage thyroid nodule patients.

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