Veracyte, Inc. (NASDAQ:VCYT) CFO Sells $23,108.95 in Stock

Veracyte, Inc. (NASDAQ:VCYT) CFO Rebecca Chambers sold 527 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $43.85, for a total transaction of $23,108.95. Following the transaction, the chief financial officer now owns 113,510 shares in the company, valued at $4,977,413.50. The trade was a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Rebecca Chambers also recently made the following trade(s):

• On Tuesday, December 3rd, Rebecca Chambers sold 7,000 shares of Veracyte stock. The shares were sold at an average price of $43.23, for a total transaction of $302,610.00.

Veracyte Trading Down 4.5 %

NASDAQ:VCYT opened at $41.56 on Friday. The firm’s fifty day simple moving average is $42.55 and its 200 day simple moving average is $35.99. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $47.32.

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

Institutional Trading of Veracyte

Several large investors have recently bought and sold shares of the company. Jennison Associates LLC raised its position in shares of Veracyte by 116.3% in the 4th quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company’s stock worth $33,017,000 after acquiring an additional 448,251 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Veracyte during the 3rd quarter valued at $9,498,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Veracyte by 288.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 360,871 shares of the biotechnology company’s stock valued at $12,284,000 after acquiring an additional 268,000 shares during the period. Jane Street Group LLC grew its holdings in Veracyte by 276.4% in the third quarter. Jane Street Group LLC now owns 301,652 shares of the biotechnology company’s stock worth $10,268,000 after purchasing an additional 221,504 shares during the period. Finally, Castleark Management LLC bought a new position in shares of Veracyte during the third quarter valued at approximately $6,010,000.

Analyst Upgrades and Downgrades

Several analysts have weighed in on VCYT shares. UBS Group boosted their price target on shares of Veracyte from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC boosted their target price on Veracyte from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. StockNews.com lowered Veracyte from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Wolfe Research initiated coverage on Veracyte in a research report on Friday, November 15th. They issued an “outperform” rating and a $50.00 price objective for the company. Finally, Leerink Partners raised their target price on shares of Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.00.

About Veracyte

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.