Insider Selling: Veracyte Inc (NASDAQ:VCYT) CEO Sells 20,000 Shares of Stock

Veracyte Inc (NASDAQ:VCYT) CEO Bonnie H. Anderson sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $30.89, for a total transaction of $617,800.00. Following the completion of the transaction, the chief executive officer now directly owns 240,231 shares in the company, valued at $7,420,735.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of VCYT opened at $32.27 on Wednesday. The firm has a 50 day moving average price of $32.87 and a 200-day moving average price of $26.95. Veracyte Inc has a fifty-two week low of $13.90 and a fifty-two week high of $36.42. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -51.22 and a beta of 0.78.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Thursday, July 30th. The biotechnology company reported ($0.22) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.22). Veracyte had a negative net margin of 27.49% and a negative return on equity of 13.35%. The company had revenue of $20.70 million during the quarter, compared to analyst estimates of $17.56 million. Equities research analysts forecast that Veracyte Inc will post -0.73 EPS for the current year.

A number of research firms recently weighed in on VCYT. Lake Street Capital raised their price target on shares of Veracyte from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Needham & Company LLC lifted their target price on shares of Veracyte from $30.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Zacks Investment Research cut shares of Veracyte from a “hold” rating to a “sell” rating in a research note on Thursday, August 6th. SVB Leerink lifted their target price on shares of Veracyte from $32.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, BidaskClub upgraded shares of Veracyte from a “hold” rating to a “buy” rating in a research report on Thursday, July 9th. Two equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. Veracyte has an average rating of “Hold” and an average price target of $35.60.

A number of large investors have recently bought and sold shares of VCYT. Macquarie Group Ltd. bought a new stake in Veracyte during the 2nd quarter valued at $40,000. Advisor Group Holdings Inc. bought a new stake in Veracyte during the 1st quarter valued at $51,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Veracyte by 34.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,674 shares of the biotechnology company’s stock valued at $89,000 after buying an additional 938 shares during the last quarter. Strs Ohio raised its holdings in Veracyte by 10.3% during the 2nd quarter. Strs Ohio now owns 4,300 shares of the biotechnology company’s stock valued at $111,000 after buying an additional 400 shares during the last quarter. Finally, First Mercantile Trust Co. bought a new stake in Veracyte during the 2nd quarter valued at $112,000.

About Veracyte

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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