Veracyte, Inc. (NASDAQ:VCYT) Given Average Rating of “Moderate Buy” by Analysts

Shares of Veracyte, Inc. (NASDAQ:VCYT) have been assigned an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $27.50.

VCYT has been the topic of several recent research reports. The Goldman Sachs Group cut their price objective on Veracyte from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, April 15th. Needham & Company LLC cut their price objective on Veracyte from $33.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th.

Insiders Place Their Bets

In other Veracyte news, Director Muna Bhanji sold 3,870 shares of Veracyte stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $20.32, for a total transaction of $78,638.40. Following the transaction, the director now directly owns 23,105 shares of the company’s stock, valued at approximately $469,493.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Karin Eastham sold 2,500 shares of Veracyte stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $20.97, for a total value of $52,425.00. Following the completion of the transaction, the director now directly owns 33,125 shares of the company’s stock, valued at approximately $694,631.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Muna Bhanji sold 3,870 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $20.32, for a total value of $78,638.40. Following the completion of the sale, the director now directly owns 23,105 shares of the company’s stock, valued at $469,493.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,686 shares of company stock valued at $382,807. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Veracyte

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fiera Capital Corp increased its position in Veracyte by 1.2% in the 2nd quarter. Fiera Capital Corp now owns 625,536 shares of the biotechnology company’s stock valued at $13,555,000 after buying an additional 7,219 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Veracyte by 6.7% in the 2nd quarter. Rhumbline Advisers now owns 128,774 shares of the biotechnology company’s stock worth $2,791,000 after buying an additional 8,096 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Veracyte in the 2nd quarter worth approximately $85,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Veracyte by 5.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,823 shares of the biotechnology company’s stock worth $473,000 after buying an additional 1,173 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Veracyte by 18.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 11,065 shares of the biotechnology company’s stock worth $240,000 after buying an additional 1,740 shares during the last quarter.

Veracyte Stock Performance

Shares of VCYT stock opened at $21.60 on Monday. The stock’s fifty day moving average price is $22.18 and its two-hundred day moving average price is $22.37. The company has a market cap of $1.65 billion, a PE ratio of -22.98 and a beta of 1.65. Veracyte has a fifty-two week low of $18.61 and a fifty-two week high of $29.35.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Tuesday, May 7th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.17. Veracyte had a negative return on equity of 1.42% and a negative net margin of 18.16%. The firm had revenue of $96.84 million for the quarter, compared to the consensus estimate of $93.35 million. During the same quarter last year, the business posted ($0.11) EPS. The company’s revenue was up 17.5% compared to the same quarter last year. On average, equities analysts predict that Veracyte will post -0.05 EPS for the current fiscal year.

About Veracyte

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.