Veracyte Inc (NASDAQ:VCYT) Chairman Bonnie H. Anderson sold 25,500 shares of the business’s stock in a transaction that occurred on Thursday, January 10th. The stock was sold at an average price of $15.29, for a total transaction of $389,895.00. Following the sale, the chairman now owns 94,041 shares of the company’s stock, valued at approximately $1,437,886.89. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
VCYT stock opened at $16.06 on Monday. Veracyte Inc has a 12 month low of $5.23 and a 12 month high of $16.62. The firm has a market capitalization of $616.19 million, a P/E ratio of -17.65 and a beta of 0.53. The company has a quick ratio of 8.81, a current ratio of 9.14 and a debt-to-equity ratio of 0.32.
Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Monday, October 29th. The biotechnology company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.13. Veracyte had a negative net margin of 33.00% and a negative return on equity of 65.73%. The firm had revenue of $23.47 million during the quarter, compared to the consensus estimate of $21.52 million. On average, equities research analysts forecast that Veracyte Inc will post -0.69 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on VCYT. Zacks Investment Research downgraded shares of Veracyte from a “buy” rating to a “hold” rating in a research report on Saturday. BTIG Research upped their price target on shares of Veracyte to $17.00 and gave the company a “buy” rating in a research report on Friday, January 4th. BidaskClub upgraded shares of Veracyte from a “hold” rating to a “buy” rating in a research report on Monday, January 7th. William Blair reiterated an “outperform” rating on shares of Veracyte in a research report on Tuesday, October 30th. Finally, Janney Montgomery Scott downgraded shares of Veracyte from a “buy” rating to a “neutral” rating and set a $12.30 price target for the company. in a research report on Thursday, November 29th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $13.83.
A number of hedge funds have recently added to or reduced their stakes in the stock. ARK Investment Management LLC raised its position in Veracyte by 4.8% in the 3rd quarter. ARK Investment Management LLC now owns 3,940,804 shares of the biotechnology company’s stock valued at $37,635,000 after purchasing an additional 180,145 shares during the last quarter. Versant Venture Management LLC purchased a new position in Veracyte during the 3rd quarter worth $34,535,000. BlackRock Inc. raised its position in Veracyte by 43.6% during the 3rd quarter. BlackRock Inc. now owns 2,998,763 shares of the biotechnology company’s stock worth $28,638,000 after buying an additional 910,427 shares during the last quarter. Vanguard Group Inc. raised its position in Veracyte by 40.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,434,497 shares of the biotechnology company’s stock worth $13,700,000 after buying an additional 409,641 shares during the last quarter. Finally, Vanguard Group Inc raised its position in Veracyte by 40.0% during the 3rd quarter. Vanguard Group Inc now owns 1,434,497 shares of the biotechnology company’s stock worth $13,700,000 after buying an additional 409,641 shares during the last quarter. Hedge funds and other institutional investors own 86.73% of the company’s stock.
Veracyte Company Profile
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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