Veracyte (VCYT) Stock Price Down 6%

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Veracyte Inc (NASDAQ:VCYT)’s share price traded down 6% during mid-day trading on Wednesday . The company traded as low as $22.28 and last traded at $22.93. 752,600 shares changed hands during trading, an increase of 25% from the average session volume of 600,061 shares. The stock had previously closed at $24.39.

A number of equities analysts recently issued reports on the stock. BidaskClub raised shares of Veracyte from a “hold” rating to a “buy” rating in a research report on Monday, January 7th. Zacks Investment Research raised shares of Veracyte from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Friday, February 15th. Finally, BTIG Research boosted their target price on shares of Veracyte to $17.00 and gave the stock a “buy” rating in a research report on Friday, January 4th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $15.83.

The firm has a market cap of $1.01 billion, a PE ratio of -36.98 and a beta of 1.03. The company has a current ratio of 7.42, a quick ratio of 7.16 and a debt-to-equity ratio of 0.30.

In other Veracyte news, CEO Bonnie H. Anderson sold 8,000 shares of the business’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $18.17, for a total value of $145,360.00. Following the sale, the chief executive officer now owns 84,541 shares of the company’s stock, valued at approximately $1,536,109.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Bonnie H. Anderson sold 20,000 shares of the business’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $20.94, for a total transaction of $418,800.00. The disclosure for this sale can be found here. Insiders sold a total of 956,151 shares of company stock worth $19,865,410 in the last three months. Insiders own 13.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Group One Trading L.P. acquired a new stake in shares of Veracyte in the 4th quarter valued at $29,000. Tower Research Capital LLC TRC boosted its stake in shares of Veracyte by 562.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 12,640 shares of the biotechnology company’s stock valued at $121,000 after purchasing an additional 10,732 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Veracyte in the 3rd quarter valued at $127,000. Metropolitan Life Insurance Co. NY boosted its stake in shares of Veracyte by 356.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,544 shares of the biotechnology company’s stock valued at $133,000 after purchasing an additional 8,235 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Veracyte in the 4th quarter valued at $140,000. 89.89% of the stock is currently owned by hedge funds and other institutional investors.

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Veracyte Company Profile (NASDAQ:VCYT)

Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.

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