Veracyte (NASDAQ:VCYT) Now Covered by Analysts at Guggenheim

by · The Cerbat Gem

Guggenheim began coverage on shares of Veracyte (NASDAQ:VCYT – Free Report) in a report published on Thursday, Marketbeat reports. The brokerage issued a buy rating and a $40.00 price objective on the biotechnology company’s stock.

Other research analysts have also recently issued reports about the stock. Morgan Stanley lifted their price objective on shares of Veracyte from $21.00 to $26.00 and gave the company an underweight rating in a research note on Monday, August 12th. Needham & Company LLC lifted their price target on Veracyte from $31.00 to $37.00 and gave the company a buy rating in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Veracyte presently has a consensus rating of Moderate Buy and an average target price of $32.75.

Check Out Our Latest Report on Veracyte

Veracyte Price Performance

Shares of NASDAQ VCYT opened at $34.02 on Thursday. The business has a fifty day moving average price of $31.63 and a two-hundred day moving average price of $25.07. The stock has a market capitalization of $2.60 billion, a PE ratio of -36.19 and a beta of 1.67. Veracyte has a fifty-two week low of $18.61 and a fifty-two week high of $35.51.

Veracyte (NASDAQ:VCYT – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.10. The business had revenue of $114.43 million during the quarter, compared to the consensus estimate of $100.27 million. Veracyte had a positive return on equity of 1.52% and a negative net margin of 13.52%. Veracyte’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. On average, equities analysts expect that Veracyte will post 0.16 EPS for the current year.

Insider Buying and Selling at Veracyte

In other news, Director Karin Eastham sold 7,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $25.00, for a total transaction of $187,500.00. Following the completion of the transaction, the director now directly owns 33,228 shares in the company, valued at approximately $830,700. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Karin Eastham sold 7,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $25.00, for a total transaction of $187,500.00. Following the sale, the director now directly owns 33,228 shares in the company, valued at approximately $830,700. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Leite sold 1,277 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $25.00, for a total transaction of $31,925.00. Following the completion of the transaction, the insider now owns 82,968 shares of the company’s stock, valued at approximately $2,074,200. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,918 shares of company stock worth $1,399,541 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Veracyte

Several institutional investors have recently modified their holdings of VCYT. Inspire Investing LLC raised its position in Veracyte by 2.1% during the 2nd quarter. Inspire Investing LLC now owns 16,462 shares of the biotechnology company’s stock worth $357,000 after purchasing an additional 340 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Veracyte by 6.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 8,198 shares of the biotechnology company’s stock worth $182,000 after acquiring an additional 530 shares during the period. Arizona State Retirement System lifted its stake in shares of Veracyte by 3.7% in the second quarter. Arizona State Retirement System now owns 20,806 shares of the biotechnology company’s stock worth $451,000 after acquiring an additional 733 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Veracyte by 9.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 9,325 shares of the biotechnology company’s stock valued at $207,000 after acquiring an additional 778 shares during the last quarter. Finally, CWM LLC increased its position in Veracyte by 168.3% during the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 951 shares during the period.

Veracyte Company Profile

(Get Free Report)

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.

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