Rebecca Chambers Sells 527 Shares of Veracyte, Inc. (NASDAQ:VCYT) Stock

Veracyte, Inc. (NASDAQ:VCYT) CFO Rebecca Chambers sold 527 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $43.85, for a total value of $23,108.95. Following the transaction, the chief financial officer now directly owns 113,510 shares of the company’s stock, valued at $4,977,413.50. This trade represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Rebecca Chambers also recently made the following trade(s):

• On Tuesday, December 3rd, Rebecca Chambers sold 7,000 shares of Veracyte stock. The shares were sold at an average price of $43.23, for a total value of $302,610.00.

Veracyte Trading Down 3.8 %

VCYT opened at $43.50 on Friday. Veracyte, Inc. has a 12 month low of $18.61 and a 12 month high of $47.32. The business’s 50-day moving average price is $42.53 and its 200-day moving average price is $35.94.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.16. The company had revenue of $115.86 million for the quarter, compared to analysts’ expectations of $109.81 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The firm’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) earnings per share. On average, equities analysts forecast that Veracyte, Inc. will post 0.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VCYT. Wolfe Research started coverage on shares of Veracyte in a research report on Friday, November 15th. They issued an “outperform” rating and a $50.00 target price for the company. Scotiabank raised their price objective on Veracyte from $40.00 to $44.00 and gave the company a “sector outperform” rating in a research note on Friday, November 8th. Morgan Stanley boosted their target price on shares of Veracyte from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Monday, November 18th. UBS Group raised their price objective on shares of Veracyte from $43.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $37.00 price objective (down from $38.00) on shares of Veracyte in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in Veracyte by 5.3% during the second quarter. The Manufacturers Life Insurance Company now owns 42,766 shares of the biotechnology company’s stock valued at $927,000 after purchasing an additional 2,135 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Veracyte by 133.4% during the third quarter. SG Americas Securities LLC now owns 20,309 shares of the biotechnology company’s stock valued at $691,000 after purchasing an additional 11,606 shares in the last quarter. Handelsbanken Fonder AB increased its stake in Veracyte by 24.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 27,406 shares of the biotechnology company’s stock worth $933,000 after acquiring an additional 5,400 shares during the last quarter. Diversified Trust Co raised its stake in Veracyte by 16.4% during the third quarter. Diversified Trust Co now owns 32,661 shares of the biotechnology company’s stock valued at $1,112,000 after purchasing an additional 4,601 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Veracyte by 215.0% in the 3rd quarter. CWM LLC now owns 4,776 shares of the biotechnology company’s stock valued at $163,000 after acquiring an additional 3,260 shares during the last quarter.

Veracyte Company Profile

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.