Veracyte Inc (NASDAQ:VCYT) Chairman Bonnie H. Anderson sold 8,000 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $28.79, for a total value of $230,320.00. Following the sale, the chairman now owns 127,955 shares of the company’s stock, valued at $3,683,824.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of NASDAQ:VCYT opened at $27.33 on Friday. The company has a current ratio of 6.32, a quick ratio of 6.06 and a debt-to-equity ratio of 0.15. Veracyte Inc has a 1 year low of $8.77 and a 1 year high of $30.25. The stock’s fifty day moving average price is $26.63. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -44.08 and a beta of 1.02.
Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data on Tuesday, April 30th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.05. Veracyte had a negative return on equity of 23.43% and a negative net margin of 15.51%. The business had revenue of $29.53 million during the quarter, compared to analyst estimates of $28.20 million. On average, sell-side analysts anticipate that Veracyte Inc will post -0.28 earnings per share for the current fiscal year.
Several analysts recently issued reports on VCYT shares. BidaskClub lowered Amyris from a “hold” rating to a “sell” rating in a report on Thursday, June 27th. Needham & Company LLC started coverage on Veracyte in a report on Tuesday, July 2nd. They set a “buy” rating and a $33.00 price objective for the company. Finally, Zacks Investment Research lowered Zynex from a “hold” rating to a “sell” rating in a report on Saturday, May 4th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $20.06.
A number of institutional investors have recently bought and sold shares of the business. Gilder Gagnon Howe & Co. LLC acquired a new position in Veracyte during the first quarter worth $86,400,000. Millennium Management LLC increased its position in Veracyte by 81.0% during the fourth quarter. Millennium Management LLC now owns 1,418,286 shares of the biotechnology company’s stock worth $17,842,000 after buying an additional 634,597 shares during the last quarter. Nikko Asset Management Americas Inc. increased its position in Veracyte by 23,740.9% during the first quarter. Nikko Asset Management Americas Inc. now owns 609,134 shares of the biotechnology company’s stock worth $15,241,000 after buying an additional 606,579 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Veracyte during the first quarter worth $14,934,000. Finally, William Blair Investment Management LLC acquired a new position in Veracyte during the first quarter worth $11,887,000. 94.32% of the stock is currently owned by hedge funds and other institutional investors.
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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