Veracyte, Inc. (NASDAQ: VCYT – get rating) has earned an average “Moderate Buy” rating from the ten analysts currently covering the firm, MarketBeat reports. One analyst has given the stock a sell rating, one has given a hold rating and six have given the company a buy rating. The average twelve-month target price among brokerages that have issued ratings on the stock in the past year is $38.57.
Several brokerage houses have intervened in VCYT. William Blair reissued an “outperform” rating on Veracyte shares in a report on Wednesday, November 2. Raymond James lowered Veracyte’s share price target from $31.00 to $27.00 and set an “outperformance” rating on the stock in a research report on Friday, November 4. Needham & Company LLC raised Veracyte’s share price target from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 3. SVB Leerink raised its target price on Veracyte shares from $30.00 to $35.00 and gave the company an “outperformer” rating in a research report on Thursday, November 3. Ultimately, Morgan Stanley cut Veracyte’s share price target from $23.00 to $22.00 and placed an “underweight” rating on the stock in a research report on Friday, November 4.
Veracyte trading up 7.1%
VCYT opened at $29.94 on Friday. The company has a market cap of $2.15 billion, a P/E ratio of -49.90, and a beta of 1.28. Veracyte has a twelve month minimum of $14.85 and a twelve month maximum of $49.80. The company has a fifty-day simple moving average of $18.91 and a 200-day simple moving average of $20.45.
Internal transactions at Veracyte
In related news, whistleblower Giulia C. Kennedy sold 1,023 shares of the company in a transaction on Friday, November 4. The shares were sold at an average price of $25.00, for a total transaction of $25,575.00. Following the transaction, the insider now owns 68,001 shares in the company, valued at approximately $1,700,025. The sale was disclosed in a filing with the SEC, which can be accessed via this link. 2.90% of the shares are owned by insiders.
Veracyte Institutional Negotiation
Several large investors have recently bought and sold shares in the company. Credit Suisse AG increased its holdings in Veracyte by 0.6% during the third quarter. Credit Suisse AG now owns 74,016 shares of the biotech company valued at $1,229,000 after buying an additional 454 shares last quarter. Synovus Financial Corp increased its position in Veracyte by 3.2% in the second quarter. Synovus Financial Corp now owns 19,417 shares of the biotech company valued at $382,000 after purchasing an additional 611 shares last quarter. Teacher Retirement System of Texas increased its position in Veracyte by 4.7% in the first quarter. Teacher Retirement System of Texas now owns 14,482 shares of the biotech company valued at $399,000 after purchasing an additional 650 shares last quarter. EFG Asset Management Americas Corp. increased its stake in Veracyte shares by 6.1% during the third quarter. EFG Asset Management Americas Corp. now owns 15,154 shares of the biotech company valued at $252,000 after buying an additional 872 shares last quarter. Finally, Ohio Strs increased its holding in Veracyte stock by 2.0% during the third quarter. Strs Ohio now owns 45,600 shares of the biotech company valued at $756,000 after buying an additional 900 shares last quarter.
Veracyte Company Profile
Veracyte, Inc operates as a diagnostic company throughout the world. The company offers the Afirma Genomic Sequencing Classifier and Xpression Atlas, which are used to determine whether patients with indeterminate results are benign to avoid unnecessary surgery; Decipher prostate biopsy and radical prostatectomy for the diagnosis of prostate cancer; Prosigna Breast Cancer Assay for the diagnosis of breast cancer; Percepta genomic sequencing classifier and Percepta nasal swab test for lung cancer diagnosis; Envisia Genomic Classifier for the diagnosis of interstitial lung disease, including idiopathic pulmonary fibrosis; and the Immunoscore colon cancer test for the diagnosis of colon cancer.
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