Insider Selling: Veracyte Inc (NASDAQ:VCYT) CEO Sells $202,240.00 in Stock

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Veracyte Inc (NASDAQ:VCYT) CEO Bonnie H. Anderson sold 8,000 shares of Veracyte stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $25.28, for a total value of $202,240.00. Following the sale, the chief executive officer now directly owns 121,414 shares of the company’s stock, valued at approximately $3,069,345.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NASDAQ VCYT opened at $24.88 on Friday. Veracyte Inc has a 1-year low of $8.77 and a 1-year high of $31.18. The stock has a 50-day moving average of $27.73 and a 200-day moving average of $24.30. The firm has a market cap of $1.20 billion, a PE ratio of -40.13 and a beta of 0.96.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Tuesday, July 30th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04. Veracyte had a negative return on equity of 10.26% and a negative net margin of 11.01%. The company had revenue of $30.14 million for the quarter, compared to the consensus estimate of $29.20 million. On average, sell-side analysts anticipate that Veracyte Inc will post -0.23 earnings per share for the current year.

A number of large investors have recently made changes to their positions in VCYT. Gilder Gagnon Howe & Co. LLC purchased a new position in Veracyte during the 1st quarter valued at about $86,400,000. Invesco Ltd. increased its holdings in Veracyte by 401.5% during the 2nd quarter. Invesco Ltd. now owns 2,985,745 shares of the biotechnology company’s stock valued at $85,124,000 after purchasing an additional 2,390,394 shares during the period. Nikko Asset Management Americas Inc. increased its holdings in Veracyte by 252.7% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 2,148,248 shares of the biotechnology company’s stock valued at $61,247,000 after purchasing an additional 1,539,114 shares during the period. BlackRock Inc. increased its holdings in Veracyte by 43.8% during the 2nd quarter. BlackRock Inc. now owns 3,987,802 shares of the biotechnology company’s stock valued at $113,692,000 after purchasing an additional 1,215,062 shares during the period. Finally, Nuveen Asset Management LLC purchased a new position in Veracyte during the 2nd quarter valued at about $33,505,000. Institutional investors own 83.48% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. ValuEngine lowered Veracyte from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. BidaskClub lowered Veracyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. Zacks Investment Research raised Veracyte from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Saturday, May 4th. Lake Street Capital assumed coverage on Veracyte in a research note on Wednesday, July 31st. They issued a “buy” rating and a $35.00 target price for the company. Finally, Needham & Company LLC set a $34.00 target price on Veracyte and gave the company a “buy” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Veracyte has a consensus rating of “Buy” and a consensus target price of $25.06.

Veracyte Company Profile

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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Insider Buying and Selling by Quarter for Veracyte (NASDAQ:VCYT)

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