Veracyte (NASDAQ:VCYT) Now Covered by Analysts at UBS Group

UBS Group initiated coverage on shares of Veracyte (NASDAQ:VCYT) in a report published on Wednesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $43.00 price objective on the biotechnology company’s stock.

Several other research analysts have also commented on VCYT. Morgan Stanley boosted their price objective on shares of Veracyte from $21.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, August 12th. Guggenheim began coverage on Veracyte in a research report on Thursday, October 10th. They set a “buy” rating and a $40.00 price target on the stock. Finally, Needham & Company LLC raised their price objective on Veracyte from $31.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat.com, Veracyte has an average rating of “Moderate Buy” and a consensus price target of $35.67.

Veracyte Stock Up 0.4 %

Shares of VCYT stock opened at $34.44 on Wednesday. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of -36.64 and a beta of 1.67. Veracyte has a 52-week low of $18.61 and a 52-week high of $35.51. The company’s 50 day moving average is $32.48 and its 200 day moving average is $25.51.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.10. The business had revenue of $114.43 million for the quarter, compared to the consensus estimate of $100.27 million. Veracyte had a positive return on equity of 1.52% and a negative net margin of 13.52%. The business’s revenue was up 26.7% compared to the same quarter last year. During the same period last year, the business posted ($0.12) EPS. Analysts anticipate that Veracyte will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Evan/ Fa Jones sold 1,032 shares of Veracyte stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.03, for a total value of $30,990.96. Following the completion of the sale, the director now owns 46,413 shares in the company, valued at approximately $1,393,782.39. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Evan/ Fa Jones sold 1,032 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $30.03, for a total value of $30,990.96. Following the sale, the director now directly owns 46,413 shares in the company, valued at approximately $1,393,782.39. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Leite sold 5,479 shares of the 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 transaction, the insider now owns 76,174 shares in the company, valued at $2,268,461.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,141 shares of company stock valued at $1,180,116. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Blue Trust Inc. lifted its stake in shares of Veracyte by 2,331.6% during the 2nd quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 1,329 shares during the period. CWM LLC grew its position in shares of Veracyte by 168.3% in the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 951 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Veracyte in the 2nd quarter worth about $58,000. Signature Resources Capital Management LLC bought a new stake in shares of Veracyte during the 2nd quarter valued at about $83,000. Finally, nVerses Capital LLC acquired a new stake in shares of Veracyte during the 2nd quarter worth approximately $85,000.

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.