Veracyte (VCYT) Sets New 1-Year High at $15.50
Shares of Veracyte Inc (NASDAQ:VCYT) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $15.50 and last traded at $14.87, with a volume of 19188 shares. The stock had previously closed at $14.01.
Several analysts have issued reports on VCYT shares. ValuEngine upgraded Veracyte from a “buy” rating to a “strong-buy” rating in a report on Friday, October 12th. BidaskClub downgraded Veracyte from a “strong-buy” rating to a “buy” rating in a report on Friday, September 7th. Piper Jaffray Companies boosted their price objective on Veracyte to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, July 24th. Janney Montgomery Scott upgraded Veracyte from a “neutral” rating to a “buy” rating in a report on Wednesday, October 31st. Finally, William Blair restated an “outperform” rating on shares of Veracyte in a report on Tuesday, October 30th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $12.33.
The firm has a market cap of $567.95 million, a price-to-earnings ratio of -15.91 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 9.14 and a quick ratio of 8.81.
In other news, insider Christopher M. Hall sold 40,000 shares of the company’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $13.51, for a total value of $540,400.00. Following the transaction, the insider now owns 35,955 shares in the company, valued at approximately $485,752.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Bonnie H. Anderson sold 6,000 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $12.00, for a total value of $72,000.00. Following the completion of the transaction, the chairman now owns 58,541 shares in the company, valued at approximately $702,492. The disclosure for this sale can be found here. 13.70% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN grew its stake in shares of Veracyte by 15.7% in the 3rd quarter. Wells Fargo & Company MN now owns 43,349 shares of the biotechnology company’s stock valued at $415,000 after buying an additional 5,885 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of Veracyte by 79.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 16,178 shares of the biotechnology company’s stock valued at $154,000 after buying an additional 7,182 shares in the last quarter. Engineers Gate Manager LP grew its stake in shares of Veracyte by 38.4% in the 3rd quarter. Engineers Gate Manager LP now owns 34,214 shares of the biotechnology company’s stock valued at $327,000 after buying an additional 9,495 shares in the last quarter. Essex Investment Management Co. LLC grew its stake in shares of Veracyte by 3.5% in the 3rd quarter. Essex Investment Management Co. LLC now owns 315,286 shares of the biotechnology company’s stock valued at $3,011,000 after buying an additional 10,531 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Veracyte in the 3rd quarter valued at approximately $127,000. 83.03% of the stock is owned by institutional investors and hedge funds.
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Veracyte Company Profile (NASDAQ:VCYT)
Veracyte, Inc operates as a genomic diagnostics company in the United States. The company uses genomic technology to resolve diagnostic uncertainty. It offers Afirma Thyroid FNA Analysis solution; cytopathology testing services; and the Afirma Malignancy Classifiers to manage thyroid nodule patients.
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