Annie Mcguire Sells 6,658 Shares of Veracyte (NASDAQ:VCYT) Stock

Veracyte, Inc. (NASDAQ:VCYT) SVP Annie Mcguire sold 6,658 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $35.55, for a total value of $236,691.90. Following the transaction, the senior vice president directly owned 94,706 shares in the company, valued at $3,366,798.30. The trade was a 6.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Tuesday, December 16th, Annie Mcguire sold 10,739 shares of Veracyte stock. The stock was sold at an average price of $43.13, for a total value of $463,173.07.

Veracyte Price Performance

NASDAQ:VCYT opened at $33.85 on Friday. The stock has a market cap of $2.69 billion, a PE ratio of 40.78 and a beta of 1.91. Veracyte, Inc. has a fifty-two week low of $22.61 and a fifty-two week high of $50.71. The stock’s 50-day moving average is $39.08 and its two-hundred day moving average is $38.08.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Wednesday, February 25th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.12. The business had revenue of $140.64 million during the quarter, compared to analyst estimates of $135.79 million. Veracyte had a net margin of 12.83% and a return on equity of 8.05%. The firm’s revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 earnings per share. On average, equities research analysts anticipate that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on VCYT shares. Zacks Research upgraded shares of Veracyte from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Needham & Company LLC upped their price target on shares of Veracyte from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. UBS Group reiterated a “buy” rating on shares of Veracyte in a report on Monday, January 12th. Wall Street Zen raised Veracyte from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 27th. Finally, Morgan Stanley lowered their target price on Veracyte from $48.00 to $37.00 and set an “underweight” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have given 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.14.

Institutional Trading of Veracyte

Large investors have recently added to or reduced their stakes in the business. MidFirst Bank acquired a new position in shares of Veracyte during the 4th quarter worth $274,000. Pacer Advisors Inc. lifted its stake in shares of Veracyte by 229.1% in the 4th quarter. Pacer Advisors Inc. now owns 10,280 shares of the biotechnology company’s stock valued at $433,000 after purchasing an additional 7,156 shares during the last quarter. Corient Private Wealth LLC acquired a new stake in shares of Veracyte in the 4th quarter valued at $5,475,000. Fuller & Thaler Asset Management Inc. bought a new stake in Veracyte in the fourth quarter worth $58,158,000. Finally, Empowered Funds LLC bought a new stake in Veracyte in the fourth quarter worth $42,000.

About Veracyte

Veracyte, Inc is a genomic diagnostics company focused on improving diagnostic accuracy and patient care through advanced molecular testing. Founded in 2008 and headquartered in South San Francisco, California, the company develops and commercializes minimally invasive genomic tests that aid in the diagnosis of thyroid, lung and other diseases. Veracyte’s proprietary platform analyzes gene expression patterns in clinical samples to help physicians make more informed treatment decisions, reducing unnecessary surgeries and improving patient outcomes.

The company’s flagship product, the Afirma Genomic Sequencing Classifier, is designed to assess thyroid nodules with indeterminate cytology, helping clinicians distinguish benign from suspicious nodules.