Bonnie H. Anderson Sells 25,500 Shares of Veracyte Inc (VCYT) Stock

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Veracyte Inc (NASDAQ:VCYT) Chairman Bonnie H. Anderson sold 25,500 shares of the business’s stock in a transaction that occurred on Thursday, January 10th. The stock was sold at an average price of $15.29, for a total value of $389,895.00. Following the transaction, the chairman now owns 94,041 shares in the company, valued at approximately $1,437,886.89. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of VCYT traded up $0.11 on Friday, reaching $16.06. The stock had a trading volume of 374,848 shares, compared to its average volume of 443,825. The stock has a market cap of $616.19 million, a P/E ratio of -17.65 and a beta of 0.53. The company has a debt-to-equity ratio of 0.32, a current ratio of 9.14 and a quick ratio of 8.81. Veracyte Inc has a twelve month low of $5.23 and a twelve month high of $16.62.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Monday, October 29th. The biotechnology company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.13. The business had revenue of $23.47 million for the quarter, compared to analysts’ expectations of $21.52 million. Veracyte had a negative return on equity of 65.73% and a negative net margin of 33.00%. Research analysts expect that Veracyte Inc will post -0.69 EPS for the current fiscal year.

VCYT has been the topic of several recent analyst reports. ValuEngine upgraded Veracyte from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 12th. Janney Montgomery Scott cut Veracyte from a “buy” rating to a “neutral” rating and set a $12.30 target price on the stock. in a research report on Thursday, November 29th. BidaskClub cut Veracyte from a “buy” rating to a “hold” rating in a research report on Thursday, September 20th. BTIG Research boosted their target price on Veracyte to $17.00 and gave the stock a “buy” rating in a research report on Friday, January 4th. Finally, William Blair reiterated an “outperform” rating on shares of Veracyte in a research report on Tuesday, October 30th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Veracyte has an average rating of “Buy” and a consensus price target of $13.83.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Veracyte by 15.4% in the 2nd quarter. BlackRock Inc. now owns 2,088,336 shares of the biotechnology company’s stock worth $19,505,000 after acquiring an additional 278,240 shares during the period. Quantum Capital Management grew its holdings in shares of Veracyte by 33.1% in the 3rd quarter. Quantum Capital Management now owns 254,292 shares of the biotechnology company’s stock worth $2,428,000 after acquiring an additional 63,246 shares during the period. Highland Capital Management LP grew its holdings in shares of Veracyte by 61.6% in the 2nd quarter. Highland Capital Management LP now owns 40,400 shares of the biotechnology company’s stock worth $377,000 after acquiring an additional 15,400 shares during the period. Engineers Gate Manager LP grew its holdings in shares of Veracyte by 38.4% in the 3rd quarter. Engineers Gate Manager LP now owns 34,214 shares of the biotechnology company’s stock worth $327,000 after acquiring an additional 9,495 shares during the period. Finally, Victory Capital Management Inc. acquired a new stake in shares of Veracyte in the 3rd quarter worth approximately $2,197,000. Institutional investors and hedge funds own 86.73% of the company’s stock.

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About Veracyte

Veracyte, Inc operates as a genomic diagnostics company in the United States. The company uses genomic technology to resolve diagnostic uncertainty. It offers Afirma Thyroid FNA Analysis solution; cytopathology testing services; and the Afirma Malignancy Classifiers to manage thyroid nodule patients.

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