BidaskClub upgraded shares of Veracyte (NASDAQ:VCYT) from a sell rating to a hold rating in a research report released on Tuesday morning.

Several other analysts have also recently issued reports on VCYT. ValuEngine raised Veracyte from a hold rating to a buy rating in a report on Wednesday, June 20th. Piper Jaffray Companies upped their price objective on Veracyte to $11.00 and gave the stock a neutral rating in a report on Tuesday, July 24th. Finally, Zacks Investment Research raised Veracyte from a hold rating to a buy rating and set a $13.00 price objective on the stock in a report on Friday, July 27th. Three research analysts have rated the stock with a hold rating, three have issued 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 an average target price of $11.50.

Shares of VCYT opened at $10.18 on Tuesday. The company has a market cap of $329.79 million, a PE ratio of -11.19 and a beta of 1.83. Veracyte has a 1 year low of $5.23 and a 1 year high of $12.86. The company has a debt-to-equity ratio of 0.98, a quick ratio of 3.71 and a current ratio of 4.01.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Monday, July 23rd. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.09. The business had revenue of $22.75 million for the quarter, compared to analysts’ expectations of $20.67 million. Veracyte had a negative return on equity of 91.03% and a negative net margin of 38.69%. As a group, equities analysts forecast that Veracyte will post -0.9 EPS for the current fiscal year.

In related news, Director Jesse I. Treu sold 500,000 shares of the stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $10.83, for a total transaction of $5,415,000.00. Following the sale, the director now owns 1,642 shares in the company, valued at approximately $17,782.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bonnie H. Anderson sold 14,950 shares of the stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $11.50, for a total value of $171,925.00. Following the sale, the chief executive officer now owns 67,491 shares in the company, valued at approximately $776,146.50. The disclosure for this sale can be found here. Insiders have sold a total of 556,950 shares of company stock worth $6,070,125 in the last 90 days. 13.70% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Highland Capital Management LP raised its holdings in Veracyte by 61.6% during the 2nd quarter. Highland Capital Management LP now owns 40,400 shares of the biotechnology company’s stock valued at $377,000 after buying an additional 15,400 shares during the period. GSA Capital Partners LLP purchased a new stake in Veracyte during the 2nd quarter valued at $171,000. Bank of Montreal Can purchased a new stake in Veracyte during the 2nd quarter valued at $182,000. Sigma Planning Corp purchased a new stake in Veracyte during the 2nd quarter valued at $217,000. Finally, Engineers Gate Manager LP purchased a new stake in Veracyte during the 2nd quarter valued at $231,000. Institutional investors own 71.54% of the company’s stock.

About Veracyte

Veracyte, Inc operates as a genomic diagnostics company in the United States. The company uses genomic technology to resolve diagnostic uncertainty. It offers Afirma Thyroid FNA Analysis solution; cytopathology testing services; and the Afirma Malignancy Classifiers to manage thyroid nodule patients.

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