Evan/ Fa Jones Sells 5,173 Shares of Veracyte, Inc. (NASDAQ:VCYT) Stock

Veracyte, Inc. (NASDAQ:VCYT) Director Evan/ Fa Jones sold 5,173 shares of Veracyte stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $35.23, for a total value of $182,244.79. Following the sale, the director now owns 34,343 shares of the company’s stock, valued at approximately $1,209,903.89. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Evan/ Fa Jones also recently made the following trade(s):

• On Tuesday, August 13th, Evan/ Fa Jones sold 20,457 shares of Veracyte stock. The stock was sold at an average price of $32.20, for a total transaction of $658,715.40.
• On Friday, August 9th, Evan/ Fa Jones sold 1,032 shares of Veracyte stock. The stock was sold at an average price of $30.03, for a total transaction of $30,990.96.

Veracyte Stock Down 1.5 %

Shares of NASDAQ VCYT opened at $33.73 on Wednesday. The stock has a market capitalization of $2.58 billion, a PE ratio of -35.88 and a beta of 1.66. The firm has a fifty day moving average of $29.08 and a 200-day moving average of $24.02. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $35.51.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.10. The firm had revenue of $114.43 million during the quarter, compared to the consensus estimate of $100.27 million. Veracyte had a positive return on equity of 1.52% and a negative net margin of 13.52%. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.12) earnings per share. Equities research analysts expect that Veracyte, Inc. will post 0.16 EPS for the current fiscal year.

Institutional Trading of Veracyte

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Veracyte by 3.7% during the first quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company’s stock worth $163,649,000 after buying an additional 266,660 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Veracyte by 7.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,347,436 shares of the biotechnology company’s stock worth $74,179,000 after purchasing an additional 242,760 shares during the period. Nikko Asset Management Americas Inc. increased its holdings in Veracyte by 7.8% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 3,347,436 shares of the biotechnology company’s stock valued at $74,012,000 after purchasing an additional 242,760 shares in the last quarter. Champlain Investment Partners LLC raised its position in Veracyte by 23.3% in the first quarter. Champlain Investment Partners LLC now owns 2,697,600 shares of the biotechnology company’s stock valued at $59,779,000 after purchasing an additional 509,340 shares during the period. Finally, William Blair Investment Management LLC lifted its stake in shares of Veracyte by 67.4% during the second quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company’s stock worth $26,907,000 after purchasing an additional 500,020 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on VCYT shares. Morgan Stanley increased their price target on Veracyte from $21.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, August 12th. Needham & Company LLC increased their target price on Veracyte from $31.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.25.

About Veracyte

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.