Karin Eastham Sells 10,000 Shares of Veracyte, Inc. (NASDAQ:VCYT) Stock

Veracyte, Inc. (NASDAQ:VCYT) Director Karin Eastham sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total value of $403,000.00. Following the transaction, the director now owns 18,497 shares in the company, valued at approximately $745,429.10. This represents a 35.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Veracyte Price Performance

Shares of NASDAQ:VCYT opened at $42.49 on Wednesday. The business’s 50-day moving average is $40.10 and its 200 day moving average is $32.82. Veracyte, Inc. has a 1 year low of $18.61 and a 1 year high of $46.00. The firm has a market capitalization of $3.29 billion, a P/E ratio of -283.27 and a beta of 1.71.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.03 by $0.16. The firm had revenue of $115.86 million during the quarter, compared to analyst estimates of $109.81 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. Veracyte’s revenue was up 28.6% on a year-over-year basis. During the same period last year, the firm posted ($0.03) EPS. On average, analysts expect that Veracyte, Inc. will post 0.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on VCYT shares. Wolfe Research began coverage on shares of Veracyte in a research report on Friday, November 15th. They set an “outperform” rating and a $50.00 target price on the stock. UBS Group increased their price objective on shares of Veracyte from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Scotiabank boosted their price objective on shares of Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. Morgan Stanley increased their target price on Veracyte from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Monday, November 18th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $37.00 price target (down from $38.00) on shares of Veracyte in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Veracyte has an average rating of “Moderate Buy” and a consensus price target of $41.13.

Institutional Investors Weigh In On Veracyte

Several institutional investors and hedge funds have recently made changes to their positions in VCYT. State Street Corp increased its position in shares of Veracyte by 0.3% in the 3rd quarter. State Street Corp now owns 2,916,515 shares of the biotechnology company’s stock valued at $99,278,000 after acquiring an additional 7,920 shares during the period. Geode Capital Management LLC grew its stake in Veracyte by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,844,713 shares of the biotechnology company’s stock valued at $62,806,000 after purchasing an additional 17,921 shares during the last quarter. William Blair Investment Management LLC increased its holdings in shares of Veracyte by 67.4% in the second quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company’s stock valued at $26,907,000 after purchasing an additional 500,020 shares during the period. Granite Investment Partners LLC raised its stake in shares of Veracyte by 2.1% in the second quarter. Granite Investment Partners LLC now owns 934,994 shares of the biotechnology company’s stock worth $20,261,000 after purchasing an additional 19,244 shares during the last quarter. Finally, Eventide Asset Management LLC lifted its holdings in shares of Veracyte by 20.2% during the third quarter. Eventide Asset Management LLC now owns 677,883 shares of the biotechnology company’s stock worth $23,075,000 after purchasing an additional 113,883 shares during the period.

Veracyte Company Profile

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.