Veracyte Inc (NASDAQ:VCYT) was up 6.1% on Monday . The stock traded as high as $26.30 and last traded at $26.17, approximately 961,993 shares traded hands during trading. An increase of 48% from the average daily volume of 651,051 shares. The stock had previously closed at $24.67.

Several equities research analysts have weighed in on VCYT shares. BidaskClub upgraded Veracyte from a “sell” rating to a “hold” rating in a report on Friday, October 11th. Zacks Investment Research upgraded Veracyte from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a report on Saturday. Needham & Company LLC set a $34.00 price target on Veracyte and gave the stock a “buy” rating in a report on Wednesday, July 31st. Lake Street Capital started coverage on Veracyte in a report on Wednesday, July 31st. They set a “buy” rating and a $35.00 price target on the stock. Finally, ValuEngine downgraded Veracyte from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $25.46.

The company has a fifty day simple moving average of $24.98 and a two-hundred day simple moving average of $25.67. The company has a market cap of $1.23 billion, a PE ratio of -42.21 and a beta of 0.97.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Tuesday, July 30th. The biotechnology company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04. Veracyte had a negative return on equity of 10.26% and a negative net margin of 11.01%. The business had revenue of $30.14 million for the quarter, compared to the consensus estimate of $29.20 million. Analysts anticipate that Veracyte Inc will post -0.23 EPS for the current fiscal year.

In related news, insider Giulia C. Kennedy sold 28,257 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $25.38, for a total transaction of $717,162.66. Following the transaction, the insider now owns 56,575 shares in the company, valued at approximately $1,435,873.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Bonnie H. Anderson sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $24.50, for a total value of $196,000.00. Following the transaction, the chief executive officer now owns 109,467 shares in the company, valued at approximately $2,681,941.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,881 shares of company stock worth $2,825,964. Company insiders own 8.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management & Equity Research Inc. grew its stake in Veracyte by 3.5% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 11,535 shares of the biotechnology company’s stock worth $329,000 after buying an additional 390 shares during the last quarter. Strs Ohio lifted its position in Veracyte by 2.8% during the 3rd quarter. Strs Ohio now owns 32,800 shares of the biotechnology company’s stock worth $787,000 after acquiring an additional 900 shares during the period. Advisor Group Inc. acquired a new stake in Veracyte during the 2nd quarter worth approximately $29,000. Brinker Capital Inc. lifted its position in Veracyte by 5.4% during the 3rd quarter. Brinker Capital Inc. now owns 22,780 shares of the biotechnology company’s stock worth $547,000 after acquiring an additional 1,176 shares during the period. Finally, NumerixS Investment Technologies Inc acquired a new stake in Veracyte during the 2nd quarter worth approximately $54,000. Hedge funds and other institutional investors own 96.96% of the company’s stock.

Veracyte Company Profile (NASDAQ:VCYT)

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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