Veracyte (VCYT) Receiving Somewhat Positive News Coverage, Analysis Finds

Media coverage about Veracyte (NASDAQ:VCYT) has been trending somewhat positive on Monday, Accern Sentiment Analysis reports. Accern identifies negative and positive press coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Veracyte earned a news sentiment score of 0.14 on Accern’s scale. Accern also gave news headlines about the biotechnology company an impact score of 46.2968229071879 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.

Here are some of the headlines that may have impacted Accern’s rankings:

Several equities research analysts have issued reports on VCYT shares. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Veracyte in a research note on Tuesday, September 12th. BidaskClub cut shares of Veracyte from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. BTIG Research reissued a “buy” rating and set a $13.00 price target on shares of Veracyte in a research report on Thursday, August 31st. ValuEngine cut shares of Veracyte from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Finally, Zacks Investment Research cut shares of Veracyte from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $11.85.

Shares of Veracyte (VCYT) traded down $0.29 on Monday, reaching $6.29. 252,400 shares of the company traded hands, compared to its average volume of 210,474. Veracyte has a 12-month low of $5.75 and a 12-month high of $9.80. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.86 and a current ratio of 5.19.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Monday, November 6th. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.21). The firm had revenue of $17.50 million for the quarter, compared to analyst estimates of $19.54 million. Veracyte had a negative net margin of 38.19% and a negative return on equity of 52.99%. Veracyte’s revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.20) EPS. analysts expect that Veracyte will post -0.85 earnings per share for the current year.

In related news, Chairman Bonnie H. Anderson sold 16,000 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $9.41, for a total transaction of $150,560.00. Following the sale, the chairman now directly owns 16,000 shares in the company, valued at $150,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Bonnie H. Anderson sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $8.44, for a total transaction of $50,640.00. Following the sale, the chairman now owns 16,000 shares in the company, valued at $135,040. The disclosure for this sale can be found here. Insiders have sold 130,500 shares of company stock worth $1,085,065 over the last quarter. Insiders own 13.40% of the company’s stock.

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Veracyte Company Profile

Veracyte, Inc is a genomic diagnostics company. The Company uses genomic technology to resolve diagnostic ambiguity. It targets diseases in which patients undergo invasive diagnostic procedures. Its products combine genomic technology, clinical science and machine learning. The Company commercializes over three genomic tests, which are transforming the diagnosis of thyroid cancer, lung cancer and idiopathic pulmonary fibrosis.

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

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