Veracyte (NASDAQ:VCYT) PT Lowered to $28.00

Veracyte (NASDAQ:VCYT - Free Report) had its target price lowered by The Goldman Sachs Group from $32.00 to $28.00 in a report issued on Monday, Benzinga reports. The firm currently has a buy rating on the biotechnology company's stock.

Several other brokerages have also recently commented on VCYT. Needham & Company LLC raised their price objective on shares of Veracyte from $30.00 to $33.00 and gave the company a buy rating in a research note on Friday, February 23rd. Morgan Stanley reduced their price objective on shares of Veracyte from $22.00 to $21.00 and set an underweight rating for the company in a research note on Monday, February 26th. Finally, William Blair restated an outperform rating on shares of Veracyte in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Veracyte presently has a consensus rating of Moderate Buy and an average target price of $29.00.

Veracyte Stock Down 4.3 %

NASDAQ:VCYT traded down $0.86 during trading hours on Monday, reaching $19.37. 828,929 shares of the company's stock were exchanged, compared to its average volume of 625,732. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -18.81 and a beta of 1.62. The company has a 50-day moving average of $22.73 and a 200 day moving average of $24.06. Veracyte has a 1-year low of $19.12 and a 1-year high of $30.52.

Veracyte (NASDAQ:VCYT - Get Free Report) last released its earnings results on Thursday, February 22nd. The biotechnology company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. Veracyte had a negative net margin of 20.61% and a negative return on equity of 2.02%. The company had revenue of $98.20 million during the quarter, compared to analysts' expectations of $95.49 million. Research analysts forecast that Veracyte will post -0.29 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Karin Eastham sold 10,000 shares of Veracyte stock in a transaction on Monday, April 1st. The shares were sold at an average price of $21.65, for a total value of $216,500.00. Following the completion of the sale, the director now owns 33,125 shares in the company, valued at $717,156.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On Veracyte

Institutional investors have recently bought and sold shares of the stock. ARK Investment Management LLC lifted its holdings in Veracyte by 0.8% in the 4th quarter. ARK Investment Management LLC now owns 7,655,603 shares of the biotechnology company's stock valued at $210,606,000 after acquiring an additional 62,011 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in shares of Veracyte in the 3rd quarter valued at about $506,000. Diversified Trust Co increased its holdings in shares of Veracyte by 4.0% in the 4th quarter. Diversified Trust Co now owns 14,810 shares of the biotechnology company's stock valued at $407,000 after purchasing an additional 575 shares during the period. Qube Research & Technologies Ltd increased its holdings in shares of Veracyte by 55.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 166,732 shares of the biotechnology company's stock valued at $3,723,000 after purchasing an additional 59,484 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Veracyte by 96.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,862 shares of the biotechnology company's stock worth $42,000 after buying an additional 913 shares during the last quarter.

Veracyte Company Profile

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.