Veracyte (NASDAQ:VCYT) SVP Sells $463,173.07 in Stock

Veracyte, Inc. (NASDAQ:VCYT) SVP Annie Mcguire sold 10,739 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $43.13, for a total value of $463,173.07. Following the completion of the transaction, the senior vice president owned 67,760 shares of the company’s stock, valued at $2,922,488.80. This trade represents a 13.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Annie Mcguire also recently made the following trade(s):

• On Thursday, December 4th, Annie Mcguire sold 1,422 shares of Veracyte stock. The stock was sold at an average price of $47.30, for a total value of $67,260.60.
• On Wednesday, November 5th, Annie Mcguire sold 6,466 shares of Veracyte stock. The shares were sold at an average price of $40.00, for a total transaction of $258,640.00.
• On Friday, September 19th, Annie Mcguire sold 2,283 shares of Veracyte stock. The stock was sold at an average price of $33.69, for a total transaction of $76,914.27.

Veracyte Stock Performance

VCYT stock traded down $1.01 during mid-day trading on Wednesday, hitting $42.21. The company had a trading volume of 714,023 shares, compared to its average volume of 1,096,065. The firm has a market cap of $3.34 billion, a PE ratio of 111.08 and a beta of 1.83. Veracyte, Inc. has a 12 month low of $22.61 and a 12 month high of $50.71. The stock’s fifty day moving average price is $40.47 and its two-hundred day moving average price is $32.83.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.19. The company had revenue of $131.87 million during the quarter, compared to analyst estimates of $124.62 million. Veracyte had a net margin of 6.12% and a return on equity of 7.23%. Veracyte’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 EPS. Equities analysts anticipate that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Hedge Funds Weigh In On Veracyte

Several hedge funds have recently bought and sold shares of VCYT. First Horizon Corp purchased a new stake in Veracyte in the 3rd quarter worth approximately $31,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Veracyte in the second quarter worth $25,000. Osaic Holdings Inc. raised its position in shares of Veracyte by 289.9% in the second quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company’s stock worth $33,000 after buying an additional 893 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Veracyte in the third quarter worth $56,000. Finally, Headlands Technologies LLC boosted its stake in Veracyte by 74.8% during the second quarter. Headlands Technologies LLC now owns 2,824 shares of the biotechnology company’s stock valued at $76,000 after buying an additional 1,208 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VCYT. UBS Group increased their price target on Veracyte from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Canaccord Genuity Group increased their target price on shares of Veracyte from $40.00 to $43.00 and gave the stock a “hold” rating in a research report on Wednesday, November 5th. Needham & Company LLC lifted their target price on shares of Veracyte from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of Veracyte in a research note on Monday. Finally, Wall Street Zen downgraded shares of Veracyte from a “strong-buy” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Veracyte currently has an average rating of “Moderate Buy” and an average price target of $45.43.

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.