Several other analysts also recently issued reports on VCYT. Needham & Company LLC started coverage on Veracyte in a research report on Tuesday, July 2nd. They issued a “buy” rating and a $33.00 price objective on the stock. Zacks Investment Research downgraded Zynex from a “hold” rating to a “sell” rating in a research report on Saturday, May 4th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $20.06.
VCYT opened at $29.85 on Friday. The business’s fifty day moving average price is $27.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.06 and a current ratio of 6.32. The stock has a market capitalization of $1.23 billion, a P/E ratio of -48.15 and a beta of 1.02. Veracyte has a one year low of $8.77 and a one year high of $30.25.
In other news, Chairman Bonnie H. Anderson sold 8,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $22.99, for a total value of $183,920.00. Following the sale, the chairman now directly owns 103,292 shares in the company, valued at $2,374,683.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher M. Hall sold 115,000 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $25.26, for a total value of $2,904,900.00. Following the completion of the sale, the insider now owns 71,462 shares in the company, valued at $1,805,130.12. The disclosure for this sale can be found here. Insiders sold 139,000 shares of company stock worth $3,529,780 over the last 90 days. Company insiders own 8.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gilder Gagnon Howe & Co. LLC purchased a new position in Veracyte during the first quarter worth about $86,400,000. American Century Companies Inc. purchased a new position in Veracyte during the fourth quarter worth about $1,311,000. Squarepoint Ops LLC lifted its position in Veracyte by 8.1% during the fourth quarter. Squarepoint Ops LLC now owns 112,141 shares of the biotechnology company’s stock worth $1,411,000 after buying an additional 8,434 shares during the period. Spark Investment Management LLC lifted its position in Veracyte by 87.2% during the first quarter. Spark Investment Management LLC now owns 323,400 shares of the biotechnology company’s stock worth $8,091,000 after buying an additional 150,600 shares during the period. Finally, California Public Employees Retirement System lifted its position in Veracyte by 6.9% during the fourth quarter. California Public Employees Retirement System now owns 152,124 shares of the biotechnology company’s stock worth $1,914,000 after buying an additional 9,824 shares during the period. Hedge funds and other institutional investors own 94.18% of the company’s stock.
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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