Separately, Zacks Investment Research downgraded shares of Veracyte from a buy rating to a hold rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Veracyte presently has an average rating of Buy and a consensus price target of $16.83.
NASDAQ VCYT opened at $27.57 on Friday. Veracyte has a 12-month low of $8.48 and a 12-month high of $28.25. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.32 and a quick ratio of 6.06. The firm has a market capitalization of $1.16 billion, a P/E ratio of -44.47 and a beta of 0.88.
In other Veracyte news, Chairman Bonnie H. Anderson sold 8,000 shares of Veracyte stock in a transaction on Monday, June 10th. The shares were sold at an average price of $26.33, for a total transaction of $210,640.00. Following the transaction, the chairman now directly owns 127,955 shares of the company’s stock, valued at approximately $3,369,055.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher M. Hall sold 80,000 shares of Veracyte 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 transaction, the insider now directly owns 46,641 shares in the company, valued at $1,171,621.92. The disclosure for this sale can be found here. Insiders have sold a total of 219,000 shares of company stock worth $5,512,180 over the last ninety days. Insiders own 13.70% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Citigroup Inc. boosted its holdings in shares of Veracyte by 8.1% in the 1st quarter. Citigroup Inc. now owns 7,493 shares of the biotechnology company’s stock worth $187,000 after buying an additional 563 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of Veracyte in the 1st quarter worth about $101,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Veracyte by 65,322.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,888 shares of the biotechnology company’s stock worth $147,000 after buying an additional 5,879 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings 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 during the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in shares of Veracyte by 8.1% in the 4th quarter. Squarepoint Ops LLC now owns 112,141 shares of the biotechnology company’s stock worth $1,411,000 after buying an additional 8,434 shares during the last quarter. 94.32% of the stock is currently owned by hedge funds and other institutional investors.
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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