Insider Selling: Veracyte Inc (NASDAQ:VCYT) Chairman Sells $230,320.00 in Stock

Veracyte Inc (NASDAQ:VCYT) Chairman Bonnie H. Anderson sold 8,000 shares of Veracyte stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $28.79, for a total transaction of $230,320.00. Following the completion of the transaction, the chairman now owns 127,955 shares of the company’s stock, valued at approximately $3,683,824.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

VCYT opened at $27.33 on Friday. The stock has a market capitalization of $1.18 billion, a P/E ratio of -44.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.32 and a quick ratio of 6.06. The stock has a 50-day simple moving average of $26.63. Veracyte Inc has a twelve month low of $8.77 and a twelve month high of $30.25.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Tuesday, April 30th. The biotechnology company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.05. The firm had revenue of $29.53 million during the quarter, compared to the consensus estimate of $28.20 million. Veracyte had a negative net margin of 15.51% and a negative return on equity of 23.43%. On average, research analysts expect that Veracyte Inc will post -0.28 earnings per share for the current year.

Several equities analysts have recently weighed in on the stock. Needham & Company LLC assumed coverage on shares of Veracyte in a research note on Tuesday, July 2nd. They issued a “buy” rating and a $33.00 target price for the company. BidaskClub downgraded shares of Amyris from a “hold” rating to a “sell” rating in a research note on Thursday, June 27th. Finally, Zacks Investment Research downgraded shares of Zynex from a “hold” rating to a “sell” rating in a research note on Saturday, May 4th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $20.06.

Several institutional investors and hedge funds have recently bought and sold shares of VCYT. Rhumbline Advisers boosted its stake in Veracyte by 62.6% during the 4th quarter. Rhumbline Advisers now owns 35,509 shares of the biotechnology company’s stock valued at $447,000 after purchasing an additional 13,667 shares in the last quarter. Prudential Financial Inc. boosted its stake in Veracyte by 83.5% during the 4th quarter. Prudential Financial Inc. now owns 109,289 shares of the biotechnology company’s stock valued at $1,375,000 after purchasing an additional 49,719 shares in the last quarter. California Public Employees Retirement System boosted its stake in Veracyte by 6.9% during the 4th quarter. California Public Employees Retirement System now owns 152,124 shares of the biotechnology company’s stock valued at $1,914,000 after purchasing an additional 9,824 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Veracyte by 78.2% during the 4th quarter. Bank of New York Mellon Corp now owns 163,035 shares of the biotechnology company’s stock valued at $2,051,000 after purchasing an additional 71,525 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in Veracyte during the 4th quarter valued at $140,000. Hedge funds and other institutional investors own 94.32% of the company’s stock.

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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