According to Zacks, “Veracyte, Inc. is a diagnostics company. It is focused on discovering, developing and commercializing molecular cytology solutions. The Company provides Afirma Thyroid FNA Analysis, which helps physicians in reducing unnecessary diagnostic surgeries for patients with thyroid nodules. Veracyte is also developing Afirma Malignant GEC test. It serves endocrinologists, radiologists, and head and neck specialists. Veracyte, Inc. is headquartered in South San Francisco, California. “
A number of other brokerages have also commented on VCYT. TheStreet upgraded shares of Veracyte from a “d” rating to a “c-” rating in a research note on Thursday, August 1st. Lake Street Capital began coverage on shares of Veracyte in a research note on Wednesday, July 31st. They set a “buy” rating and a $35.00 price target for the company. ValuEngine upgraded shares of Veracyte from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. BidaskClub upgraded shares of Veracyte from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC restated a “buy” rating and set a $34.00 price target on shares of Veracyte in a research note on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Veracyte presently has a consensus rating of “Buy” and a consensus target price of $25.46.
Shares of Veracyte stock traded up $0.44 during trading on Friday, reaching $23.58. 18,823 shares of the company traded hands, compared to its average volume of 775,547. Veracyte has a 1-year low of $10.73 and a 1-year high of $31.18. The company has a 50 day moving average price of $24.04 and a 200-day moving average price of $25.49. The firm has a market capitalization of $1.17 billion, a PE ratio of -38.03 and a beta of 1.01.
Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Tuesday, October 22nd. The biotechnology company reported ($0.02) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.05. The business had revenue of $30.97 million during the quarter, compared to analyst estimates of $30.41 million. Veracyte had a negative net margin of 7.08% and a negative return on equity of 5.33%. As a group, equities research analysts forecast that Veracyte will post -0.19 earnings per share for the current year.
In related news, CEO Bonnie H. Anderson sold 8,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $25.28, for a total transaction of $202,240.00. Following the completion of the transaction, the chief executive officer now owns 121,414 shares in the company, valued at $3,069,345.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Keith Kennedy sold 1,243 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $28.00, for a total transaction of $34,804.00. Following the transaction, the chief financial officer now owns 111,286 shares of the company’s stock, valued at approximately $3,116,008. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,215 shares of company stock valued at $2,907,731. Company insiders own 8.30% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisor Group Inc. bought a new position in Veracyte during the second quarter valued at about $29,000. Tower Research Capital LLC TRC grew its position in Veracyte by 1,433.3% during the third quarter. Tower Research Capital LLC TRC now owns 1,150 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 1,075 shares during the period. NumerixS Investment Technologies Inc bought a new position in Veracyte during the second quarter valued at about $54,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Veracyte during the second quarter valued at about $78,000. Finally, US Bancorp DE lifted its holdings in Veracyte by 540.9% during the second quarter. US Bancorp DE now owns 2,916 shares of the biotechnology company’s stock valued at $83,000 after purchasing an additional 2,461 shares during the last quarter. Institutional investors own 97.79% of the company’s stock.
Veracyte Company Profile
Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.
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