Veracyte Inc (NASDAQ:VCYT) CFO Keith Kennedy Sells 18,757 Shares

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Veracyte Inc (NASDAQ:VCYT) CFO Keith Kennedy sold 18,757 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $28.01, for a total transaction of $525,383.57. Following the completion of the transaction, the chief financial officer now directly owns 128,800 shares of the company’s stock, valued at approximately $3,607,688. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Keith Kennedy also recently made the following trade(s):

  • On Tuesday, October 22nd, Keith Kennedy sold 1,243 shares of Veracyte stock. The shares were sold at an average price of $28.00, for a total transaction of $34,804.00.

Veracyte stock traded up $2.08 during trading on Wednesday, reaching $28.35. The stock had a trading volume of 996,736 shares, compared to its average volume of 643,694. Veracyte Inc has a 52-week low of $10.73 and a 52-week high of $31.18. The business has a 50 day moving average price of $24.90 and a 200 day moving average price of $25.82. The stock has a market cap of $1.33 billion, a PE ratio of -45.72 and a beta of 1.14.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Tuesday, October 22nd. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. Veracyte had a negative net margin of 7.08% and a negative return on equity of 5.33%. The company had revenue of $30.97 million during the quarter, compared to the consensus estimate of $30.41 million. As a group, sell-side analysts expect that Veracyte Inc will post -0.19 EPS for the current fiscal year.

Several research firms have recently commented on VCYT. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price objective on shares of Veracyte in a research note on Wednesday. BidaskClub lowered shares of Veracyte from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine raised shares of Veracyte from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Zacks Investment Research lowered shares of Veracyte from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Veracyte has a consensus rating of “Buy” and an average target price of $28.75.

A number of institutional investors have recently modified their holdings of VCYT. Falcon Point Capital LLC purchased a new position in Veracyte in the second quarter worth approximately $340,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Veracyte by 127.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 465,999 shares of the biotechnology company’s stock worth $13,286,000 after buying an additional 260,870 shares during the last quarter. Convergence Investment Partners LLC purchased a new stake in shares of Veracyte during the 2nd quarter worth approximately $149,000. First Quadrant L P CA lifted its position in shares of Veracyte by 189.3% during the 2nd quarter. First Quadrant L P CA now owns 15,672 shares of the biotechnology company’s stock worth $447,000 after buying an additional 10,255 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Veracyte by 89.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,130,949 shares of the biotechnology company’s stock worth $32,243,000 after buying an additional 534,049 shares during the last quarter.

About Veracyte

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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