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

Veracyte, Inc. (NASDAQ:VCYT) CFO Rebecca Chambers sold 527 shares of the company’s 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 completion of the transaction, the chief financial officer now directly owns 113,510 shares in the company, valued at $4,977,413.50. This trade represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 stock was sold at an average price of $43.23, for a total value of $302,610.00.

Veracyte Trading Up 3.3 %

Shares of Veracyte stock opened at $45.20 on Thursday. Veracyte, Inc. has a 1-year low of $18.61 and a 1-year high of $47.32. The company’s fifty day simple moving average is $42.53 and its 200-day simple moving average is $35.94.

Veracyte (NASDAQ:VCYT) last released its earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.16. The company had revenue of $115.86 million for the quarter, compared to the consensus estimate of $109.81 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. Veracyte’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.03) earnings per share. As a group, research analysts predict that Veracyte, Inc. will post 0.38 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in VCYT. HighTower Advisors LLC purchased a new stake in Veracyte in the 3rd quarter worth approximately $554,000. Eventide Asset Management LLC increased its stake in shares of Veracyte by 20.2% in the third quarter. Eventide Asset Management LLC now owns 677,883 shares of the biotechnology company’s stock worth $23,075,000 after purchasing an additional 113,883 shares in the last quarter. Erste Asset Management GmbH bought a new stake in shares of Veracyte during the 3rd quarter valued at $574,000. Intech Investment Management LLC purchased a new position in shares of Veracyte during the 3rd quarter valued at $723,000. Finally, Neo Ivy Capital Management bought a new position in Veracyte in the 3rd quarter worth $820,000.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on VCYT shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $37.00 price objective (down from $38.00) on shares of Veracyte in a report on Thursday, December 5th. Scotiabank lifted their price target on shares of Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. Guggenheim initiated coverage on shares of Veracyte in a research report on Thursday, October 10th. They set a “buy” rating and a $40.00 price objective on the stock. Leerink Partners lifted their target price on shares of Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, StockNews.com lowered shares of Veracyte from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

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.