Veracyte Inc. (VCYT) Sees Large Volume Increase
Veracyte Inc. (NASDAQ:VCYT) shares saw unusually-high trading volume on Tuesday . Approximately 71,757 shares traded hands during mid-day 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.
VCYT has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued a “buy” rating and issued a $13.00 price objective on shares of Veracyte in a research note on Wednesday, June 29th. Leerink Swann reissued a “buy” rating on shares of Veracyte in a research note on Thursday, June 23rd. BTIG Research reissued a “buy” rating and issued a $10.00 price objective on shares of Veracyte in a research note on Monday, June 13th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $10.00 price objective (down previously from $12.00) on shares of Veracyte in a research note on Thursday, August 4th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Veracyte presently has an average rating of “Buy” and a consensus target price of $9.42.
The stock’s 50-day moving average is $5.11 and its 200 day moving average is $5.38. The stock’s market cap is $155.48 million.
Veracyte (NASDAQ:VCYT) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.40) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.33) by $0.07. During the same quarter in the previous year, the business posted ($0.35) EPS. The business earned $14.68 million during the quarter, compared to analysts’ expectations of $14.80 million. Veracyte’s revenue for the quarter was up 23.5% on a year-over-year basis. On average, equities research analysts forecast that Veracyte Inc. will post ($1.46) EPS for the current fiscal year.
In other news, CEO Bonnie H. Anderson acquired 5,000 shares of Veracyte stock in a transaction that occurred on Friday, June 3rd. The shares were acquired at an average price of $5.40 per share, for a total transaction of $27,000.00. Following the transaction, the chief executive officer now directly owns 7,500 shares of the company’s stock, valued at approximately $40,500. The acquisition was disclosed in a filing 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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