Veracyte, Inc. (NASDAQ:VCYT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Veracyte, Inc. (NASDAQ:VCYT – Get Rating) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $35.17.

Several analysts recently commented on VCYT shares. Needham & Company LLC lifted their price objective on Veracyte from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, November 3rd. Raymond James decreased their target price on Veracyte from $31.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, November 4th. SVB Leerink boosted their price objective on Veracyte from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, November 3rd. William Blair reaffirmed an “outperform” rating on shares of Veracyte in a research note on Wednesday, November 2nd. Finally, StockNews.com raised Veracyte from a “sell” rating to a “hold” rating in a research note on Monday, December 26th.

Veracyte Trading Down 1.5 %

Shares of NASDAQ:VCYT opened at $23.73 on Friday. The stock has a fifty day simple moving average of $25.30 and a two-hundred day simple moving average of $22.56. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -39.55 and a beta of 1.39. Veracyte has a 12-month low of $14.85 and a 12-month high of $42.95.

Insiders Place Their Bets

In other news, Director Evan/ Fa Jones sold 1,667 shares of Veracyte stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $30.71, for a total transaction of $51,193.57. Following the sale, the director now owns 50,784 shares of the company’s stock, valued at approximately $1,559,576.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Bonnie H. Anderson sold 80,000 shares of the business’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $28.26, for a total value of $2,260,800.00. Following the completion of the sale, the insider now directly owns 65,003 shares of the company’s stock, valued at $1,836,984.78. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Evan/ Fa Jones sold 1,667 shares of the company’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $30.71, for a total transaction of $51,193.57. Following the completion of the sale, the director now directly owns 50,784 shares of the company’s stock, valued at $1,559,576.64. The disclosure for this sale can be found here. Insiders have sold 89,715 shares of company stock valued at $2,546,659 in the last ninety days. 2.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Veracyte

Several large investors have recently modified their holdings of VCYT. Bank of New York Mellon Corp raised its stake in shares of Veracyte by 9.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 254,834 shares of the biotechnology company’s stock valued at $4,230,000 after acquiring an additional 22,393 shares during the period. Capital Impact Advisors LLC acquired a new position in Veracyte during the 3rd quarter worth $103,000. Alpha Paradigm Partners LLC lifted its position in shares of Veracyte by 165.7% in the 3rd quarter. Alpha Paradigm Partners LLC now owns 131,064 shares of the biotechnology company’s stock worth $2,176,000 after buying an additional 81,733 shares during the last quarter. BNP Paribas Arbitrage SNC lifted its position in shares of Veracyte by 600.2% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 126,735 shares of the biotechnology company’s stock worth $2,104,000 after buying an additional 108,635 shares during the last quarter. Finally, State Street Corp lifted its position in Veracyte by 1.5% in the 3rd quarter. State Street Corp now owns 5,223,896 shares of the biotechnology company’s stock valued at $86,717,000 after purchasing an additional 79,565 shares during the last quarter.

About Veracyte

(Get Rating)

Veracyte, Inc operates as a diagnostics company worldwide. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas, which are used to determine patients with indeterminate results are benign to avoid unnecessary surgery; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Genomic Sequencing Classifier and Percepta Nasal Swab Test for lung cancer diagnosis; Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis; and Immunoscore Colon Cancer test for colon cancer diagnosis.

See Also

Analyst Recommendations for Veracyte (NASDAQ:VCYT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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