Veracyte (NASDAQ:VCYT) Sees Strong Trading Volume

Veracyte, Inc. (NASDAQ:VCYT) saw unusually-high trading volume on Thursday . Approximately 41,745 shares were traded during trading, a decline of 94% from the previous session’s volume of 655,637 shares.The stock last traded at $30.34 and had previously closed at $32.02.

VCYT has been the topic of a number of recent analyst reports. Raymond James increased their target price on Veracyte from $50.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, November 10th. The Goldman Sachs Group initiated coverage on Veracyte in a research report on Thursday, November 18th. They set a “buy” rating and a $59.00 target price on the stock. William Blair reiterated an “outperform” rating on shares of Veracyte in a research report on Wednesday, November 10th. Finally, Stephens initiated coverage on Veracyte in a report on Friday, January 7th. They issued an “overweight” rating and a $52.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $53.78.

The business has a 50-day moving average of $40.89 and a 200-day moving average of $42.85. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of -26.85 and a beta of 0.79.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Tuesday, November 9th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). The business had revenue of $60.37 million for the quarter, compared to analyst estimates of $54.66 million. Veracyte had a negative return on equity of 3.88% and a negative net margin of 39.14%. During the same period in the previous year, the business posted ($0.08) earnings per share. As a group, analysts expect that Veracyte, Inc. will post -0.49 EPS for the current year.

In other Veracyte news, Director Karin Eastham sold 4,400 shares of Veracyte stock in a transaction dated Monday, November 1st. The stock was sold at an average price of $32,978.71, for a total value of $145,106,324.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Giulia C. Kennedy sold 9,232 shares of Veracyte stock in a transaction dated Monday, December 6th. The shares were sold at an average price of $36.05, for a total value of $332,813.60. The disclosure for this sale can be found here. Insiders have sold a total of 18,632 shares of company stock valued at $145,664,138 over the last three months. Corporate insiders own 8.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in VCYT. Alpha Paradigm Partners LLC purchased a new stake in Veracyte during the second quarter worth approximately $2,892,000. Credit Suisse AG lifted its stake in Veracyte by 9.0% during the second quarter. Credit Suisse AG now owns 63,903 shares of the biotechnology company’s stock worth $2,555,000 after purchasing an additional 5,296 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Veracyte by 292.8% during the third quarter. Fisher Asset Management LLC now owns 957,501 shares of the biotechnology company’s stock worth $44,476,000 after purchasing an additional 713,726 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Veracyte by 166.6% during the second quarter. Renaissance Technologies LLC now owns 246,500 shares of the biotechnology company’s stock worth $9,855,000 after purchasing an additional 154,052 shares during the last quarter. Finally, Snider Financial Group purchased a new stake in Veracyte during the second quarter worth approximately $349,000.

Veracyte Company Profile (NASDAQ:VCYT)

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.

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