Veracyte (NASDAQ:VCYT) Lifted to “Hold” at BidaskClub

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Veracyte (NASDAQ:VCYT) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Friday, BidAskClub reports.

Other equities analysts have also issued reports about the stock. Needham & Company LLC decreased their target price on shares of Veracyte from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Lake Street Capital reissued a “buy” rating and issued a $35.00 target price on shares of Veracyte in a report on Wednesday, December 4th. Zacks Investment Research lowered shares of Veracyte from a “hold” rating to a “sell” rating in a report on Saturday, February 29th. Finally, ValuEngine raised shares of Veracyte from a “hold” rating to a “buy” rating in a report on Tuesday, March 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $31.33.

VCYT stock opened at $24.60 on Friday. Veracyte has a 12 month low of $13.90 and a 12 month high of $31.18. The firm has a market cap of $1.09 billion, a P/E ratio of -91.11 and a beta of 1.11. The company’s 50-day moving average price is $23.66 and its two-hundred day moving average price is $25.68.

Veracyte (NASDAQ:VCYT) last released its earnings results on Tuesday, February 25th. The biotechnology company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.06). Veracyte had a negative net margin of 10.47% and a negative return on equity of 6.47%. The firm had revenue of $29.73 million during the quarter, compared to the consensus estimate of $29.35 million. As a group, equities research analysts forecast that Veracyte will post -0.6 EPS for the current fiscal year.

In related news, Director Evan/ Fa Jones sold 14,049 shares of Veracyte stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $30.11, for a total transaction of $423,015.39. Following the sale, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $752,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bonnie H. Anderson sold 20,000 shares of Veracyte stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $28.86, for a total transaction of $577,200.00. Following the sale, the chief executive officer now directly owns 137,738 shares in the company, valued at $3,975,118.68. The disclosure for this sale can be found here. Insiders have sold a total of 66,101 shares of company stock worth $1,858,440 over the last ninety days. 8.30% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. FTB Advisors Inc. grew its holdings in shares of Veracyte by 80.4% during the 4th quarter. FTB Advisors Inc. now owns 996 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 444 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Veracyte by 1,433.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,150 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 1,075 shares during the last quarter. Assetmark Inc. bought a new stake in Veracyte during the 4th quarter worth approximately $32,000. FMR LLC bought a new stake in Veracyte during the 4th quarter worth approximately $82,000. Finally, Exchange Traded Concepts LLC bought a new stake in Veracyte during the 4th quarter worth approximately $82,000.

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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