Veracyte, Inc. (NASDAQ:VCYT) Insider John Leite Sells 5,479 Shares of Stock

Veracyte, Inc. (NASDAQ:VCYT) insider John Leite sold 5,479 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total transaction of $163,164.62. Following the completion of the sale, the insider now directly owns 76,174 shares of the company’s stock, valued at approximately $2,268,461.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, July 16th, John Leite sold 1,277 shares of Veracyte stock. The stock was sold at an average price of $25.00, for a total transaction of $31,925.00.

Veracyte Stock Down 4.0 %

Shares of VCYT stock opened at $28.57 on Friday. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $33.33. The firm has a fifty day moving average of $26.39 and a 200-day moving average of $23.22. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -30.39 and a beta of 1.66.

Veracyte (NASDAQ:VCYT) last announced its earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.10. Veracyte had a negative net margin of 13.52% and a positive return on equity of 1.52%. The firm had revenue of $114.43 million during the quarter, compared to analyst estimates of $100.27 million. During the same period in the prior year, the business earned ($0.12) EPS. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. On average, equities analysts expect that Veracyte, Inc. will post 0.13 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of VCYT. Inspire Investing LLC boosted its position in Veracyte by 2.1% during the 2nd quarter. Inspire Investing LLC now owns 16,462 shares of the biotechnology company’s stock worth $357,000 after acquiring an additional 340 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Veracyte by 6.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 8,198 shares of the biotechnology company’s stock worth $182,000 after purchasing an additional 530 shares in the last quarter. Arizona State Retirement System boosted its holdings in Veracyte by 3.7% during the second quarter. Arizona State Retirement System now owns 20,806 shares of the biotechnology company’s stock worth $451,000 after purchasing an additional 733 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Veracyte by 9.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 9,325 shares of the biotechnology company’s stock worth $207,000 after purchasing an additional 778 shares during the last quarter. Finally, CWM LLC grew its position in Veracyte by 168.3% in the second quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 951 shares in the last quarter.

Analyst Ratings Changes

VCYT has been the topic of several research analyst reports. Morgan Stanley raised their price objective on Veracyte from $21.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, August 12th. Needham & Company LLC increased their price target on Veracyte from $31.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $31.25.

Veracyte Company Profile

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.