Veracyte Inc. (VCYT) Shares Up 0.8%
Shares of Veracyte Inc. (NASDAQ:VCYT) shot up 0.8% during trading on Wednesday . The stock traded as high as $5.50 and last traded at $5.29, with a volume of 59,819 shares trading hands. The stock had previously closed at $5.25.
Several brokerages have recently commented on VCYT. Cantor Fitzgerald restated a “buy” rating and set a $13.00 price objective on shares of Veracyte in a research report on Friday, May 6th. BTIG Research restated a “buy” rating and set a $10.00 price objective on shares of Veracyte in a research report on Monday, June 13th. Piper Jaffray Cos. restated an “overweight” rating and set a $10.00 price objective (down from $12.00) on shares of Veracyte in a research report on Thursday, August 4th. Finally, Leerink Swann restated a “buy” rating on shares of Veracyte in a research report on Thursday, June 23rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $9.42.
The firm’s 50-day moving average is $5.05 and its 200-day moving average is $5.38. The company’s market capitalization is $148.79 million.
Veracyte (NASDAQ:VCYT) last released its earnings results on Wednesday, August 3rd. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.33) by $0.07. During the same quarter in the previous year, the company posted ($0.35) earnings per share. The business had revenue of $14.68 million for the quarter, compared to the consensus estimate of $14.80 million. The company’s revenue was up 23.5% compared to the same quarter last year. Equities analysts predict that Veracyte Inc. will post ($1.46) EPS for the current fiscal year.
In other Veracyte news, CEO Bonnie H. Anderson acquired 5,000 shares of the company’s stock in a transaction dated Friday, June 3rd. The shares were acquired at an average cost of $5.40 per share, with a total value of $27,000.00. Following the acquisition, the chief executive officer now directly owns 7,500 shares of the company’s stock, valued at $40,500. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.
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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