Veracyte Inc. (VCYT) Sees Strong Trading Volume
Shares of Veracyte Inc. (NASDAQ:VCYT) saw an uptick in trading volume on Tuesday . 71,757 shares were traded during trading, an increase of 4% from the previous session’s volume of 68,917 shares.The stock last traded at $5.55 and had previously closed at $5.53.
Several research firms have recently weighed in on VCYT. Cantor Fitzgerald reiterated a “buy” rating and set a $13.00 price objective on shares of Veracyte in a report on Tuesday, June 21st. BTIG Research reiterated a “buy” rating and set a $10.00 price objective on shares of Veracyte in a report on Monday, June 13th. Leerink Swann reiterated a “buy” rating on shares of Veracyte in a report on Thursday, June 23rd. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $10.00 price objective (down previously from $12.00) on shares of Veracyte in a report on Thursday, August 4th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Veracyte currently has a consensus rating of “Buy” and an average target price of $9.42.
The firm’s market cap is $154.37 million. The firm’s 50-day moving average is $5.10 and its 200-day moving average is $5.38.
Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by $0.07. The business earned $14.68 million during the quarter, compared to analyst estimates of $14.80 million. The business’s quarterly revenue was up 23.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.35) EPS. On average, equities analysts forecast that Veracyte Inc. will post ($1.46) earnings per share for the current fiscal year.
In other news, CEO Bonnie H. Anderson purchased 5,000 shares of the business’s stock in a transaction on Wednesday, June 1st. The shares were acquired at an average price of $5.46 per share, for a total transaction of $27,300.00. Following the completion of the acquisition, the chief executive officer now owns 2,500 shares in the company, valued at $13,650. The transaction was disclosed in a filing with the SEC, which is accessible 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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