Veracyte Inc. (VCYT) Sees Unusually-High Trading Volume
Veracyte Inc. (NASDAQ:VCYT) shares saw an uptick in trading volume on Monday . 61,378 shares changed hands during mid-day trading, an increase of 13% from the previous session’s volume of 54,495 shares.The stock last traded at $5.19 and had previously closed at $5.17.
Several research firms have commented on VCYT. BTIG Research reiterated a “buy” rating and issued a $10.00 target price on shares of Veracyte in a research report on Monday, June 13th. Cantor Fitzgerald reiterated a “buy” rating on shares of Veracyte in a research report on Monday, June 13th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $10.00 target price (down from $12.00) on shares of Veracyte in a research report on Thursday, August 4th. Finally, Leerink Swann reiterated a “buy” rating on shares of Veracyte in a research report on Thursday, June 23rd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $9.42.
The stock has a 50-day moving average price of $5.03 and a 200 day moving average price of $5.39. The company’s market capitalization is $144.89 million.
Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by $0.07. The company earned $14.68 million during the quarter, compared to the consensus estimate of $14.80 million. During the same quarter last year, the firm posted ($0.35) EPS. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. Analysts predict that Veracyte Inc. will post ($1.46) EPS for the current fiscal year.
In related news, CEO Bonnie H. Anderson acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 3rd. The shares were bought at an average cost of $5.40 per share, for a total transaction of $27,000.00. Following the purchase, the chief executive officer now owns 7,500 shares in the company, valued at approximately $40,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Veracyte, Inc is a molecular diagnostics company. The Company is engaged in developing and delivering genomic solutions that resolve diagnostic ambiguity and enable physicians to make informed treatment decisions at an early-stage in patient care. The Company targets diseases in which various patients undergo diagnostic procedures that could be avoided with diagnosis from a cytology sample taken preoperatively.
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