Shares of Veracyte Inc (NASDAQ:VCYT) rose 7.9% on Wednesday . The company traded as high as $28.42 and last traded at $28.35, approximately 996,736 shares changed hands during mid-day trading. An increase of 55% from the average daily volume of 643,694 shares. The stock had previously closed at $26.26.

Several equities research analysts recently weighed in on VCYT shares. Zacks Investment Research cut shares of Veracyte from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Lake Street Capital reiterated a “buy” rating and set a $35.00 price objective on shares of Veracyte in a research report on Wednesday. BidaskClub lowered shares of Veracyte from a “buy” rating to a “hold” rating in a research report on Wednesday. ValuEngine raised shares of Veracyte from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $34.00 target price on shares of Veracyte in a report on Wednesday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Veracyte presently has an average rating of “Buy” and a consensus target price of $28.75.

The business has a 50-day simple moving average of $25.14 and a 200-day simple moving average of $25.88. The firm has a market capitalization of $1.46 billion, a PE ratio of -47.06 and a beta of 1.14.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings data on Tuesday, October 22nd. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.05. The business had revenue of $30.97 million during the quarter, compared to analyst estimates of $30.41 million. Veracyte had a negative return on equity of 5.33% and a negative net margin of 7.08%. Equities research analysts anticipate that Veracyte Inc will post -0.19 earnings per share for the current year.

In related news, CEO Bonnie H. Anderson sold 8,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $24.51, for a total transaction of $196,080.00. Following the transaction, the chief executive officer now directly owns 111,028 shares in the company, valued at approximately $2,721,296.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Keith Kennedy sold 1,243 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $28.00, for a total transaction of $34,804.00. Following the completion of the sale, the chief financial officer now directly owns 111,286 shares in the company, valued at $3,116,008. The disclosure for this sale can be found here. Insiders have sold a total of 141,079 shares of company stock worth $3,714,170 in the last 90 days. 8.30% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in the business. BlackRock Inc. grew its stake in shares of Veracyte by 43.8% during the second quarter. BlackRock Inc. now owns 3,987,802 shares of the biotechnology company’s stock valued at $113,692,000 after buying an additional 1,215,062 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Veracyte by 401.5% in the second quarter. Invesco Ltd. now owns 2,985,745 shares of the biotechnology company’s stock worth $85,124,000 after buying an additional 2,390,394 shares during the period. Nikko Asset Management Americas Inc. lifted its stake in shares of Veracyte by 28.7% during the 3rd quarter. Nikko Asset Management Americas Inc. now owns 2,764,236 shares of the biotechnology company’s stock worth $66,342,000 after acquiring an additional 615,988 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Veracyte by 144.4% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,764,236 shares of the biotechnology company’s stock worth $66,342,000 after acquiring an additional 1,633,287 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Veracyte by 36.8% during the 2nd quarter. Vanguard Group Inc. now owns 2,298,052 shares of the biotechnology company’s stock worth $65,517,000 after acquiring an additional 618,054 shares during the last quarter.

Veracyte Company Profile (NASDAQ:VCYT)

Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.

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