Insider Selling: Veracyte Inc (NASDAQ:VCYT) Insider Sells 15,327 Shares of Stock

Veracyte Inc (NASDAQ:VCYT) insider Giulia C. Kennedy sold 15,327 shares of Veracyte stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $26.47, for a total value of $405,705.69. Following the completion of the transaction, the insider now owns 47,157 shares of the company’s stock, valued at $1,248,245.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shares of VCYT traded up $2.08 during midday trading on Wednesday, reaching $28.34. The stock had a trading volume of 996,729 shares, compared to its average volume of 643,694. Veracyte Inc has a 1-year low of $10.73 and a 1-year high of $31.18. The company’s fifty day simple moving average is $24.90 and its two-hundred day simple moving average is $25.82. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -45.73 and a beta of 1.14.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Tuesday, October 22nd. The biotechnology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.05. The firm had revenue of $30.97 million for the quarter, compared to analyst estimates of $30.41 million. Veracyte had a negative return on equity of 5.33% and a negative net margin of 7.08%. Research analysts expect that Veracyte Inc will post -0.19 earnings per share for the current year.

Several brokerages have weighed in on VCYT. ValuEngine upgraded Veracyte from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Zacks Investment Research lowered Veracyte from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. BidaskClub cut Veracyte from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Needham & Company LLC reissued a “buy” rating and set a $34.00 price objective on shares of Veracyte in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $28.75.

Several hedge funds and other institutional investors have recently modified their holdings of VCYT. Boston Advisors LLC increased its stake in Veracyte by 114.1% in the third quarter. Boston Advisors LLC now owns 54,066 shares of the biotechnology company’s stock valued at $1,298,000 after purchasing an additional 28,812 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new position in Veracyte during the 3rd quarter worth approximately $2,018,000. California Public Employees Retirement System grew its stake in Veracyte by 15.5% during the 3rd quarter. California Public Employees Retirement System now owns 189,319 shares of the biotechnology company’s stock worth $4,544,000 after buying an additional 25,350 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in Veracyte during the second quarter worth approximately $229,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Veracyte by 144.4% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,764,236 shares of the biotechnology company’s stock valued at $66,342,000 after buying an additional 1,633,287 shares during the last quarter.

Veracyte Company Profile

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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Insider Buying and Selling by Quarter for Veracyte (NASDAQ:VCYT)

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