Veracyte (NASDAQ:VCYT) SVP Annie Mcguire Sells 1,422 Shares

Veracyte, Inc. (NASDAQ:VCYT) SVP Annie Mcguire sold 1,422 shares of Veracyte stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $47.30, for a total transaction of $67,260.60. Following the transaction, the senior vice president directly owned 78,499 shares of the company’s stock, valued at $3,713,002.70. The trade was a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, November 5th, Annie Mcguire sold 6,466 shares of Veracyte stock. The shares were sold at an average price of $40.00, for a total transaction of $258,640.00.
• On Friday, September 19th, Annie Mcguire sold 2,283 shares of Veracyte stock. The stock was sold at an average price of $33.69, for a total transaction of $76,914.27.

Veracyte Stock Down 2.7%

NASDAQ:VCYT traded down $1.30 during mid-day trading on Friday, hitting $46.11. 160,407 shares of the stock traded hands, compared to its average volume of 1,098,366. Veracyte, Inc. has a 52 week low of $22.61 and a 52 week high of $50.71. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 121.07 and a beta of 1.83. The firm’s 50 day moving average is $39.11 and its two-hundred day moving average is $31.88.

Veracyte (NASDAQ:VCYT) last announced its earnings results on Tuesday, November 4th. The biotechnology company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.19. The business had revenue of $131.87 million during the quarter, compared to analyst estimates of $124.62 million. Veracyte had a return on equity of 7.23% and a net margin of 6.12%.The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. As a group, research analysts predict that Veracyte, Inc. will post 0.68 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Needham & Company LLC upped their price objective on Veracyte from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Zacks Research raised shares of Veracyte from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Guggenheim upped their price target on shares of Veracyte from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Morgan Stanley lifted their price objective on shares of Veracyte from $40.00 to $48.00 and gave the company an “underweight” rating in a report on Monday. Finally, Wall Street Zen raised shares of Veracyte from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 16th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.43.

Hedge Funds Weigh In On Veracyte

Several institutional investors have recently made changes to their positions in VCYT. AlphaQuest LLC grew its holdings in Veracyte by 1,279.9% during the 2nd quarter. AlphaQuest LLC now owns 8,031 shares of the biotechnology company’s stock worth $217,000 after acquiring an additional 7,449 shares in the last quarter. Strs Ohio bought a new stake in shares of Veracyte in the 1st quarter valued at about $848,000. Assenagon Asset Management S.A. raised its holdings in shares of Veracyte by 70.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 830,099 shares of the biotechnology company’s stock valued at $22,438,000 after purchasing an additional 342,038 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Veracyte by 79.7% in the 1st quarter. Voya Investment Management LLC now owns 41,452 shares of the biotechnology company’s stock worth $1,229,000 after purchasing an additional 18,386 shares during the period. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Veracyte by 25.1% during the second quarter. Exchange Traded Concepts LLC now owns 115,041 shares of the biotechnology company’s stock valued at $3,110,000 after purchasing an additional 23,047 shares in the last quarter.

About Veracyte

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.