Veracyte (NASDAQ:VCYT) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Veracyte (NASDAQ:VCYT) from a buy rating to a hold rating in a report published on Tuesday morning.

A number of other brokerages also recently weighed in on VCYT. Morgan Stanley increased their price target on Veracyte from $26.00 to $28.00 and gave the stock an “underweight” rating in a report on Monday, November 18th. Wolfe Research assumed coverage on Veracyte in a report on Friday, November 15th. They set an “outperform” rating and a $50.00 price target for the company. UBS Group increased their price target on Veracyte from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC increased their price target on Veracyte from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $37.00 target price (down from $38.00) on shares of Veracyte in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Veracyte has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Veracyte Trading Down 2.5 %

Shares of Veracyte stock opened at $41.05 on Tuesday. The business has a 50-day moving average price of $42.04 and a two-hundred day moving average price of $37.22. Veracyte has a 1-year low of $18.61 and a 1-year high of $47.32. The company has a market cap of $3.18 billion, a P/E ratio of -273.67 and a beta of 1.71.

Insider Activity

In related news, CAO Jonathan Wygant sold 5,032 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $42.89, for a total value of $215,822.48. Following the transaction, the chief accounting officer now owns 42,313 shares of the company’s stock, valued at approximately $1,814,804.57. This trade represents a 10.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Leite sold 1,050 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $43.25, for a total transaction of $45,412.50. Following the completion of the transaction, the insider now directly owns 73,810 shares in the company, valued at approximately $3,192,282.50. The trade was a 1.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,565 shares of company stock worth $1,031,406 in the last three months. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Veracyte

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