Veracyte, Inc. (NASDAQ:VCYT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Veracyte, Inc. (NASDAQ:VCYT) have been assigned an average rating of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $42.00.

A number of equities analysts have recently commented on VCYT shares. Wolfe Research started coverage on Veracyte in a research note on Friday, November 15th. They issued an “outperform” rating and a $50.00 price objective on the stock. UBS Group lifted their price objective on Veracyte from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. StockNews.com lowered Veracyte from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Scotiabank lifted their price objective on Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC lifted their target price on Veracyte from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th.

Veracyte Stock Performance

Veracyte stock opened at $39.36 on Tuesday. The business’s 50-day simple moving average is $41.88 and its 200-day simple moving average is $37.60. The firm has a market capitalization of $3.05 billion, a PE ratio of -262.40 and a beta of 1.71. Veracyte has a 52 week low of $18.61 and a 52 week high of $47.32.

Insider Buying and Selling

In other Veracyte news, insider John Leite sold 1,050 shares of Veracyte stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $43.25, for a total transaction of $45,412.50. Following the sale, the insider now directly owns 73,810 shares of the company’s stock, valued at approximately $3,192,282.50. The trade was a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karin Eastham sold 10,000 shares of Veracyte stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total value of $403,000.00. Following the sale, the director now directly owns 18,497 shares in the company, valued at $745,429.10. The trade was a 35.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,565 shares of company stock valued at $1,031,406 over the last three months. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Veracyte

A number of institutional investors have recently added to or reduced their stakes in VCYT. Jones Financial Companies Lllp boosted its holdings in Veracyte by 49.7% during the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 237 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in Veracyte during the fourth quarter valued at approximately $64,000. US Bancorp DE boosted its holdings in shares of Veracyte by 57.4% in the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock worth $70,000 after acquiring an additional 647 shares in the last quarter. Principal Securities Inc. boosted its holdings in shares of Veracyte by 34.1% in the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock worth $76,000 after acquiring an additional 485 shares in the last quarter. Finally, Castleview Partners LLC acquired a new position in shares of Veracyte in the 3rd quarter worth approximately $87,000.

About Veracyte

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.