Veracyte Inc. (NASDAQ:VCYT) issued an update on its third quarter earnings guidance on Monday morning. The company provided earnings per share guidance of ($0.21)-(0.20) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.39). The company issued revenue guidance of $18.6 million, compared to the consensus revenue estimate of $15.63 million.

Veracyte Inc. (NASDAQ:VCYT) traded up 0.13% on Monday, hitting $7.59. The stock had a trading volume of 174,844 shares. The firm’s market cap is $211.49 million. Veracyte Inc. has a 12-month low of $4.21 and a 12-month high of $8.19. The company’s 50 day moving average is $6.90 and its 200 day moving average is $5.66.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by $0.07. The firm earned $14.68 million during the quarter, compared to the consensus estimate of $14.80 million. Veracyte had a negative net margin of 70.10% and a negative return on equity of 82.26%. The firm’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.35) earnings per share. On average, equities research analysts expect that Veracyte Inc. will post ($1.47) EPS for the current fiscal year.

VCYT has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed a buy rating and set a $13.00 target price on shares of Veracyte in a report on Tuesday, June 21st. Leerink Swann reaffirmed a buy rating on shares of Veracyte in a report on Thursday, June 23rd. Piper Jaffray Cos. reaffirmed an overweight rating and set a $10.00 target price (down from $12.00) on shares of Veracyte in a report on Thursday, August 4th. Finally, Zacks Investment Research lowered Veracyte from a hold rating to a sell rating in a report on Thursday, October 6th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $9.70.

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Veracyte by 60.8% in the second quarter. Vanguard Group Inc. now owns 526,438 shares of the company’s stock valued at $2,648,000 after buying an additional 199,073 shares in the last quarter. BlackRock Investment Management LLC increased its position in shares of Veracyte by 1.5% in the second quarter. BlackRock Investment Management LLC now owns 47,453 shares of the company’s stock valued at $239,000 after buying an additional 720 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Veracyte by 1.9% in the second quarter. BlackRock Fund Advisors now owns 361,743 shares of the company’s stock valued at $1,820,000 after buying an additional 6,891 shares in the last quarter. Spark Investment Management LLC increased its position in shares of Veracyte by 1.5% in the second quarter. Spark Investment Management LLC now owns 59,100 shares of the company’s stock valued at $297,000 after buying an additional 900 shares in the last quarter. Finally, State Street Corp increased its position in shares of Veracyte by 3.6% in the second quarter. State Street Corp now owns 146,503 shares of the company’s stock valued at $741,000 after buying an additional 5,109 shares in the last quarter. Institutional investors and hedge funds own 55.10% of the company’s stock.

About Veracyte

Veracyte, Inc is a molecular diagnostics company. The Company is engaged in developing and delivering genomic solutions that resolve diagnostic ambiguity and enable physicians to make informed treatment decisions at an early-stage in patient care. The Company targets diseases in which various patients undergo diagnostic procedures that could be avoided with diagnosis from a cytology sample taken preoperatively.

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