Veracyte Inc (NASDAQ:VCYT) has earned an average recommendation of “Buy” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $15.83.
A number of research firms recently issued reports on VCYT. BidaskClub lowered Veracyte from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 18th. Zacks Investment Research upgraded Veracyte from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Saturday, March 2nd. Finally, BTIG Research boosted their price objective on Veracyte to $17.00 and gave the company a “buy” rating in a research report on Friday, January 4th.
In other Veracyte news, insider Christopher M. Hall sold 80,000 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $25.12, for a total transaction of $2,009,600.00. Following the completion of the transaction, the insider now owns 46,641 shares in the company, valued at approximately $1,171,621.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Bonnie H. Anderson sold 8,000 shares of the business’s stock in a transaction on Monday, February 11th. The stock was sold at an average price of $18.17, for a total value of $145,360.00. Following the transaction, the chief executive officer now owns 84,541 shares of the company’s stock, valued at approximately $1,536,109.97. The disclosure for this sale can be found here. Insiders have sold a total of 956,151 shares of company stock valued at $19,865,410 in the last quarter. 13.70% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. Group One Trading L.P. acquired a new position in Veracyte during the 4th quarter worth $29,000. Tower Research Capital LLC TRC raised its stake in shares of Veracyte by 562.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 12,640 shares of the biotechnology company’s stock worth $121,000 after buying an additional 10,732 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Veracyte in the 3rd quarter worth $127,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Veracyte by 356.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,544 shares of the biotechnology company’s stock worth $133,000 after buying an additional 8,235 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Veracyte in the 4th quarter worth $140,000. Institutional investors own 89.89% of the company’s stock.
NASDAQ:VCYT traded down $0.44 during midday trading on Monday, reaching $22.92. 6,485 shares of the company traded hands, compared to its average volume of 539,760. Veracyte has a twelve month low of $5.56 and a twelve month high of $26.75. The firm has a market capitalization of $974.69 million, a P/E ratio of -37.06 and a beta of 1.03. The company has a debt-to-equity ratio of 0.30, a current ratio of 7.42 and a quick ratio of 7.16.
Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.
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