Insider Selling: Veracyte (NASDAQ:VCYT) SVP Sells 6,658 Shares of Stock

Veracyte, Inc. (NASDAQ:VCYT) SVP Annie Mcguire sold 6,658 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $35.55, for a total value of $236,691.90. Following the completion of the sale, the senior vice president owned 94,706 shares of the company’s stock, valued at $3,366,798.30. The trade was a 6.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Annie Mcguire also recently made the following trade(s):

• On Tuesday, December 16th, Annie Mcguire sold 10,739 shares of Veracyte stock. The shares were sold at an average price of $43.13, for a total value of $463,173.07.

Veracyte Price Performance

Shares of NASDAQ VCYT traded down $0.83 during mid-day trading on Friday, reaching $33.85. The company’s stock had a trading volume of 964,111 shares, compared to its average volume of 868,062. Veracyte, Inc. has a 52 week low of $22.61 and a 52 week high of $50.71. The stock has a fifty day moving average of $39.25 and a two-hundred day moving average of $38.00. The firm has a market capitalization of $2.69 billion, a PE ratio of 40.78 and a beta of 1.91.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Wednesday, February 25th. The biotechnology company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.12. Veracyte had a return on equity of 8.05% and a net margin of 12.83%.The company had revenue of $140.64 million for the quarter, compared to analysts’ expectations of $135.79 million. During the same period in the previous year, the firm earned $0.06 EPS. The firm’s revenue was up 18.5% compared to the same quarter last year. Analysts anticipate that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on VCYT shares. UBS Group reiterated a “buy” rating on shares of Veracyte in a report on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Veracyte in a research report on Monday, December 29th. Morgan Stanley decreased their target price on Veracyte from $48.00 to $37.00 and set an “underweight” rating on the stock in a research report on Thursday. Wall Street Zen raised Veracyte from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 27th. Finally, Zacks Research raised Veracyte from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Veracyte currently has an average rating of “Moderate Buy” and a consensus price target of $45.14.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its position in Veracyte by 23.3% during the first quarter. Royal Bank of Canada now owns 28,712 shares of the biotechnology company’s stock valued at $852,000 after purchasing an additional 5,435 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Veracyte by 12.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 195,793 shares of the biotechnology company’s stock worth $5,805,000 after purchasing an additional 21,330 shares during the period. Jane Street Group LLC increased its position in shares of Veracyte by 94.7% during the 1st quarter. Jane Street Group LLC now owns 216,909 shares of the biotechnology company’s stock valued at $6,431,000 after purchasing an additional 105,499 shares during the last quarter. Intech Investment Management LLC raised its holdings in Veracyte by 54.1% during the 1st quarter. Intech Investment Management LLC now owns 42,762 shares of the biotechnology company’s stock valued at $1,268,000 after buying an additional 15,017 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Veracyte during the 2nd quarter valued at $25,000.

Veracyte Company Profile

Veracyte, Inc is a genomic diagnostics company focused on improving diagnostic accuracy and patient care through advanced molecular testing. Founded in 2008 and headquartered in South San Francisco, California, the company develops and commercializes minimally invasive genomic tests that aid in the diagnosis of thyroid, lung and other diseases. Veracyte’s proprietary platform analyzes gene expression patterns in clinical samples to help physicians make more informed treatment decisions, reducing unnecessary surgeries and improving patient outcomes.

The company’s flagship product, the Afirma Genomic Sequencing Classifier, is designed to assess thyroid nodules with indeterminate cytology, helping clinicians distinguish benign from suspicious nodules.