Annie Mcguire Sells 10,204 Shares of Veracyte (NASDAQ:VCYT) Stock

Veracyte, Inc. (NASDAQ:VCYT) SVP Annie Mcguire sold 10,204 shares of Veracyte stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $39.02, for a total value of $398,160.08. Following the sale, the senior vice president owned 143,708 shares of the company’s stock, valued at approximately $5,607,486.16. This trade represents a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Annie Mcguire also recently made the following trade(s):

• On Wednesday, March 4th, Annie Mcguire sold 6,658 shares of Veracyte stock. The stock was sold at an average price of $35.55, for a total transaction of $236,691.90.

Veracyte Price Performance

VCYT stock opened at $40.42 on Friday. Veracyte, Inc. has a 12 month low of $22.61 and a 12 month high of $50.71. The firm’s 50-day moving average is $33.54 and its 200 day moving average is $38.23. The company has a market capitalization of $3.23 billion, a PE ratio of 37.08 and a beta of 1.89.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.18. The company had revenue of $139.07 million during the quarter, compared to analysts’ expectations of $130.36 million. Veracyte had a net margin of 16.25% and a return on equity of 9.07%. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 EPS. Sell-side analysts forecast that Veracyte, Inc. will post 1.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VCYT has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Veracyte in a report on Friday, March 27th. UBS Group raised their price objective on Veracyte from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday. Canaccord Genuity Group upped their target price on Veracyte from $40.00 to $42.00 and gave the stock a “hold” rating in a report on Wednesday. Zacks Research downgraded Veracyte from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 12th. Finally, Needham & Company LLC reissued a “buy” rating and set a $48.00 price target on shares of Veracyte in a research report on Wednesday, April 1st. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $44.83.

Institutional Investors Weigh In On Veracyte

Hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its holdings in Veracyte by 5.7% during the first quarter. PNC Financial Services Group Inc. now owns 22,115 shares of the biotechnology company’s stock valued at $712,000 after buying an additional 1,187 shares during the period. Meeder Asset Management Inc. purchased a new stake in Veracyte during the first quarter worth $62,000. Dimensional Fund Advisors LP boosted its position in Veracyte by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,881,090 shares of the biotechnology company’s stock valued at $92,787,000 after acquiring an additional 80,614 shares in the last quarter. AlphaCentric Advisors LLC bought a new stake in Veracyte during the 1st quarter valued at $220,000. Finally, Swiss National Bank increased its holdings in shares of Veracyte by 0.8% in the 1st quarter. Swiss National Bank now owns 156,400 shares of the biotechnology company’s stock valued at $5,038,000 after acquiring an additional 1,200 shares during the period.

Veracyte Company Profile

Veracyte, Inc is a genomic diagnostics company focused on improving diagnostic accuracy and patient care through advanced molecular testing. Founded in 2008 and headquartered in South San Francisco, California, the company develops and commercializes minimally invasive genomic tests that aid in the diagnosis of thyroid, lung and other diseases. Veracyte’s proprietary platform analyzes gene expression patterns in clinical samples to help physicians make more informed treatment decisions, reducing unnecessary surgeries and improving patient outcomes.

The company’s flagship product, the Afirma Genomic Sequencing Classifier, is designed to assess thyroid nodules with indeterminate cytology, helping clinicians distinguish benign from suspicious nodules.