Veracyte (NASDAQ:VCYT) CEO Marc Stapley Sells 7,668 Shares

Veracyte, Inc. (NASDAQ:VCYT) CEO Marc Stapley sold 7,668 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $47.09, for a total transaction of $361,086.12. Following the completion of the transaction, the chief executive officer owned 318,603 shares of the company’s stock, valued at approximately $15,003,015.27. This trade represents a 2.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Veracyte Stock Down 4.5%

NASDAQ VCYT traded down $2.14 on Friday, hitting $45.28. The company’s stock had a trading volume of 61,820 shares, compared to its average volume of 1,098,376. The company’s 50-day moving average is $39.11 and its 200 day moving average is $31.88. The firm has a market cap of $3.58 billion, a PE ratio of 119.45 and a beta of 1.83. Veracyte, Inc. has a 1-year low of $22.61 and a 1-year high of $50.71.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.19. The company had revenue of $131.87 million for the quarter, compared to analysts’ expectations of $124.62 million. Veracyte had a net margin of 6.12% and a return on equity of 7.23%. Veracyte’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 earnings per share. On average, equities analysts expect that Veracyte, Inc. will post 0.68 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on VCYT shares. Guggenheim increased their price objective on shares of Veracyte from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Needham & Company LLC increased their price target on Veracyte from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. UBS Group increased their price objective on shares of Veracyte from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Wall Street Zen upgraded Veracyte from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 16th. Finally, Morgan Stanley upped their price target on shares of Veracyte from $40.00 to $48.00 and gave the company an “underweight” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.43.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Veracyte by 12.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,368 shares of the biotechnology company’s stock valued at $871,000 after buying an additional 3,201 shares during the last quarter. Blair William & Co. IL lifted its stake in shares of Veracyte by 3.5% in the 1st quarter. Blair William & Co. IL now owns 16,092 shares of the biotechnology company’s stock valued at $477,000 after purchasing an additional 550 shares during the period. Vanguard Group Inc. boosted its position in shares of Veracyte by 0.6% during the first quarter. Vanguard Group Inc. now owns 8,263,643 shares of the biotechnology company’s stock valued at $245,017,000 after purchasing an additional 52,031 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Veracyte by 2.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 740,631 shares of the biotechnology company’s stock worth $21,960,000 after purchasing an additional 19,662 shares during the period. Finally, Headlands Technologies LLC bought a new position in Veracyte in the first quarter worth $48,000.

Veracyte Company Profile

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.