Veracyte, Inc. (VCYT) Director Sells $315,200.00 in Stock
Veracyte, Inc. (NASDAQ:VCYT) Director Evan/ Fa Jones sold 40,000 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $7.88, for a total transaction of $315,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Evan/ Fa Jones also recently made the following trade(s):
- On Wednesday, August 23rd, Evan/ Fa Jones sold 20,000 shares of Veracyte stock. The shares were sold at an average price of $7.92, for a total transaction of $158,400.00.
Veracyte, Inc. (NASDAQ:VCYT) traded up 0.64% on Friday, hitting $7.87. 54,629 shares of the stock were exchanged. The company’s market cap is $266.74 million. Veracyte, Inc. has a 52 week low of $5.29 and a 52 week high of $9.71. The company’s 50-day moving average is $8.06 and its 200-day moving average is $8.24.
Veracyte (NASDAQ:VCYT) last posted its quarterly earnings data on Monday, July 31st. The biotechnology company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.03. The company had revenue of $18.40 million during the quarter, compared to analysts’ expectations of $18.32 million. Veracyte had a negative return on equity of 53.58% and a negative net margin of 35.64%. Veracyte’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.40) earnings per share. On average, analysts predict that Veracyte, Inc. will post ($0.93) earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of VCYT. Bank of Montreal Can purchased a new position in Veracyte during the first quarter valued at $138,000. Boston Advisors LLC purchased a new position in Veracyte during the first quarter valued at $445,000. Nationwide Fund Advisors boosted its position in Veracyte by 31.9% in the first quarter. Nationwide Fund Advisors now owns 11,327 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 2,739 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Veracyte during the first quarter valued at $147,000. Finally, Wells Fargo & Company MN boosted its position in Veracyte by 112.8% in the first quarter. Wells Fargo & Company MN now owns 18,752 shares of the biotechnology company’s stock valued at $172,000 after buying an additional 9,938 shares in the last quarter. 63.57% of the stock is owned by institutional investors.
VCYT has been the topic of a number of recent research reports. BidaskClub lowered shares of Veracyte from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. Cantor Fitzgerald set a $13.00 target price on shares of Veracyte and gave the company a “buy” rating in a report on Thursday, May 4th. Zacks Investment Research upgraded shares of Veracyte from a “hold” rating to a “buy” rating and set a $9.25 target price on the stock in a report on Friday, August 4th. Finally, Janney Montgomery Scott restated a “buy” rating and issued a $15.00 target price on shares of Veracyte in a report on Wednesday, June 28th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $12.25.
Veracyte, Inc is a genomic diagnostics company. The Company uses genomic technology to resolve diagnostic ambiguity. It targets diseases in which patients undergo invasive diagnostic procedures. Its products combine genomic technology, clinical science and machine learning. The Company commercializes over three genomic tests, which are transforming the diagnosis of thyroid cancer, lung cancer and idiopathic pulmonary fibrosis.
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