Veracyte Inc. (VCYT) Short Interest Down 23.3% in November
Veracyte Inc. (NASDAQ:VCYT) was the target of a large drop in short interest in November. As of November 15th, there was short interest totalling 832,978 shares, a drop of 23.3% from the October 31st total of 1,086,015 shares. Approximately 6.1% of the company’s stock are sold short. Based on an average daily volume of 255,835 shares, the short-interest ratio is presently 3.3 days.
Veracyte (NASDAQ:VCYT) opened at 7.83 on Wednesday. The stock’s market capitalization is $218.85 million. Veracyte has a 1-year low of $4.21 and a 1-year high of $8.45. The stock has a 50 day moving average price of $7.44 and a 200-day moving average price of $6.08.
Veracyte (NASDAQ:VCYT) last posted its earnings results on Thursday, November 3rd. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.16. The company earned $18.60 million during the quarter, compared to analyst estimates of $15.76 million. Veracyte had a negative return on equity of 88.36% and a negative net margin of 57.45%. Veracyte’s revenue was up 50.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.32) earnings per share. Equities research analysts expect that Veracyte will post ($1.26) EPS for the current year.
A number of hedge funds have recently bought and sold shares of VCYT. Rhumbline Advisers raised its stake in Veracyte by 1.1% in the third quarter. Rhumbline Advisers now owns 13,143 shares of the company’s stock worth $100,000 after buying an additional 140 shares in the last quarter. Strs Ohio raised its stake in Veracyte by 638.5% in the third quarter. Strs Ohio now owns 14,031 shares of the company’s stock worth $106,000 after buying an additional 12,131 shares in the last quarter. Kopp Investment Advisors LLC raised its stake in Veracyte by 55.7% in the second quarter. Kopp Investment Advisors LLC now owns 21,975 shares of the company’s stock worth $111,000 after buying an additional 7,860 shares in the last quarter. Royce & Associates LP bought a new stake in Veracyte during the second quarter worth $136,000. Finally, California State Teachers Retirement System raised its stake in Veracyte by 2.1% in the second quarter. California State Teachers Retirement System now owns 29,387 shares of the company’s stock worth $148,000 after buying an additional 600 shares in the last quarter. Institutional investors own 47.49% of the company’s stock.
A number of analysts have commented on VCYT shares. Zacks Investment Research lowered Veracyte from a “hold” rating to a “sell” rating in a report on Thursday, October 6th. William Blair reissued an “outperform” rating on shares of Veracyte in a report on Tuesday, October 18th. Cantor Fitzgerald set a $13.00 target price on Veracyte and gave the stock a “buy” rating in a report on Thursday, September 8th. Leerink Swann reissued an “outperform” rating and issued a $12.00 target price on shares of Veracyte in a report on Monday, November 14th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $10.00 target price (down previously from $12.00) on shares of Veracyte in a report on Thursday, August 4th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Veracyte currently has a consensus rating of “Buy” and an average price target of $10.55.
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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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