Veracyte (NASDAQ:VCYT) Insider John Leite Sells 1,278 Shares of Stock

Veracyte, Inc. (NASDAQ:VCYT) insider John Leite sold 1,278 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $47.51, for a total transaction of $60,717.78. Following the transaction, the insider owned 82,113 shares in the company, valued at $3,901,188.63. The trade was a 1.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

John Leite also recently made the following trade(s):

• On Tuesday, November 25th, John Leite sold 2,808 shares of Veracyte stock. The shares were sold at an average price of $50.00, for a total transaction of $140,400.00.

Veracyte Stock Down 2.7%

VCYT stock traded down $1.30 during trading on Friday, hitting $46.11. The company had a trading volume of 160,407 shares, compared to its average volume of 1,098,366. The firm has a 50-day moving average price of $39.11 and a 200-day moving average price of $31.88. Veracyte, Inc. has a 12 month low of $22.61 and a 12 month high of $50.71. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 121.07 and a beta of 1.83.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.19. The firm had revenue of $131.87 million for the quarter, compared to analyst estimates of $124.62 million. Veracyte had a return on equity of 7.23% and a net margin of 6.12%.The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the company earned $0.33 EPS. Equities analysts expect that Veracyte, Inc. will post 0.68 EPS for the current year.

Institutional Investors Weigh In On Veracyte

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VCYT. Needham & Company LLC lifted their price objective on Veracyte from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Guggenheim lifted their price target 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. Morgan Stanley boosted their price target on shares of Veracyte from $40.00 to $48.00 and gave the stock an “underweight” rating in a research note on Monday. Zacks Research upgraded shares of Veracyte from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Finally, Canaccord Genuity Group raised their price objective on shares of Veracyte from $40.00 to $43.00 and gave the company a “hold” rating in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.43.

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.