Insider Selling: Veracyte, Inc. (NASDAQ:VCYT) CAO Sells $215,822.48 in Stock

Veracyte, Inc. (NASDAQ:VCYT) CAO Jonathan Wygant sold 5,032 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $42.89, for a total value of $215,822.48. Following the transaction, the chief accounting officer now directly owns 42,313 shares in the company, valued at $1,814,804.57. This trade represents a 10.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Veracyte Trading Up 0.1 %

Shares of Veracyte stock opened at $42.95 on Monday. Veracyte, Inc. has a 12 month low of $18.61 and a 12 month high of $44.16. The company has a market capitalization of $3.33 billion, a PE ratio of -286.33 and a beta of 1.67. The stock’s fifty day simple moving average is $35.70 and its 200 day simple moving average is $29.07.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.16. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The company had revenue of $115.86 million for the quarter, compared to analyst estimates of $109.81 million. During the same quarter last year, the firm posted ($0.03) earnings per share. Veracyte’s revenue was up 28.6% compared to the same quarter last year. Analysts predict that Veracyte, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on VCYT shares. The Goldman Sachs Group upped their target price on shares of Veracyte from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Wolfe Research began coverage on shares of Veracyte in a report on Friday, November 15th. They issued an “outperform” rating and a $50.00 price objective on the stock. UBS Group lifted their target price on shares of Veracyte from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Morgan Stanley upped their target price on shares of Veracyte from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Monday, November 18th. Finally, Guggenheim began coverage on Veracyte in a research report on Thursday, October 10th. They issued a “buy” rating and a $40.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.25.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings in shares of Veracyte by 2,331.6% during the second quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 1,329 shares during the period. CWM LLC increased its holdings in Veracyte by 168.3% during the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 951 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Veracyte in the 2nd quarter valued at about $58,000. Signature Resources Capital Management LLC bought a new stake in shares of Veracyte in the second quarter valued at about $83,000. Finally, nVerses Capital LLC acquired a new position in shares of Veracyte during the second quarter worth about $85,000.

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.