Veracyte Inc. (NASDAQ:VCYT) issued an update on its third quarter earnings guidance on Monday morning. The company provided EPS guidance of ($0.21)-(0.20) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.39). The company issued revenue guidance of $18.6 million, compared to the consensus revenue estimate of $15.63 million.
Shares of Veracyte Inc. (NASDAQ:VCYT) traded up 0.13% on Monday, reaching $7.59. 174,844 shares of the company’s stock were exchanged. Veracyte Inc. has a one year low of $4.21 and a one year high of $8.19. The company has a 50 day moving average price of $6.96 and a 200 day moving average price of $5.68. The firm’s market cap is $211.49 million.
Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.33) by $0.07. The firm had revenue of $14.68 million for the quarter, compared to the consensus estimate of $14.80 million. Veracyte had a negative net margin of 70.10% and a negative return on equity of 82.26%. The company’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.35) earnings per share. Analysts expect that Veracyte Inc. will post ($1.47) EPS for the current fiscal year.
A number of equities research analysts have issued reports on VCYT shares. Cantor Fitzgerald restated a buy rating and set a $13.00 price target on shares of Veracyte in a research note on Wednesday, June 29th. Leerink Swann reiterated a buy rating on shares of Veracyte in a research note on Thursday, June 23rd. Piper Jaffray Cos. reiterated an overweight rating and set a $10.00 price objective (down from $12.00) on shares of Veracyte in a research note on Thursday, August 4th. Finally, Zacks Investment Research downgraded Veracyte from a hold rating to a sell rating in a research note on Thursday, October 6th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $9.70.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Veracyte by 60.8% in the second quarter. Vanguard Group Inc. now owns 526,438 shares of the company’s stock worth $2,648,000 after buying an additional 199,073 shares in the last quarter. BlackRock Investment Management LLC boosted its position in Veracyte by 1.5% in the second quarter. BlackRock Investment Management LLC now owns 47,453 shares of the company’s stock worth $239,000 after buying an additional 720 shares in the last quarter. BlackRock Fund Advisors boosted its position in Veracyte by 1.9% in the second quarter. BlackRock Fund Advisors now owns 361,743 shares of the company’s stock worth $1,820,000 after buying an additional 6,891 shares in the last quarter. Spark Investment Management LLC boosted its position in Veracyte by 1.5% in the second quarter. Spark Investment Management LLC now owns 59,100 shares of the company’s stock worth $297,000 after buying an additional 900 shares in the last quarter. Finally, State Street Corp boosted its position in Veracyte by 3.6% in the second quarter. State Street Corp now owns 146,503 shares of the company’s stock worth $741,000 after buying an additional 5,109 shares in the last quarter. 55.10% of the stock is currently owned by institutional investors.
Veracyte, Inc is a molecular diagnostics company. The Company is engaged in developing and delivering genomic solutions that resolve diagnostic ambiguity and enable physicians to make informed treatment decisions at an early-stage in patient care. The Company targets diseases in which various patients undergo diagnostic procedures that could be avoided with diagnosis from a cytology sample taken preoperatively.
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