Veracyte (NASDAQ:VCYT) CEO Sells 7,667 Shares

Key Points

• Marc Stapley, CEO of Veracyte, sold 7,667 shares at an average price of $30.41, totaling approximately $233,153.47, which reduces his ownership stake by 2.24%.
• Despite the sale, Stapley retains ownership of 334,185 shares valued at about $10.16 million as of the transaction.
• Veracyte's stock has a market capitalization of $2.55 billion, with analysts giving it a consensus target price of $40.90 and a current share price of $32.46.

Veracyte, Inc. (NASDAQ:VCYT - Get Free Report) CEO Marc Stapley sold 7,667 shares of Veracyte stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $30.41, for a total transaction of $233,153.47. Following the transaction, the chief executive officer owned 334,185 shares in the company, valued at approximately $10,162,565.85. This trade represents a 2.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Veracyte Stock Performance

Shares of NASDAQ:VCYT traded up $0.03 during mid-day trading on Monday, reaching $32.46. 1,221,645 shares of the company's stock were exchanged, compared to its average volume of 1,157,075. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 98.37 and a beta of 2.07. The business's fifty day moving average price is $27.29 and its 200-day moving average price is $29.11. Veracyte, Inc. has a twelve month low of $22.61 and a twelve month high of $47.32.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on VCYT shares. Morgan Stanley set a $28.00 price target on shares of Veracyte and gave the stock an "underweight" rating in a report on Friday, August 8th. Wall Street Zen upgraded shares of Veracyte from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Veracyte has an average rating of "Moderate Buy" and a consensus target price of $40.90.

Institutional Investors Weigh In On Veracyte

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Veracyte during the second quarter worth about $25,000. Versant Capital Management Inc increased its position in shares of Veracyte by 1,267.6% during the first quarter. Versant Capital Management Inc now owns 930 shares of the biotechnology company's stock worth $28,000 after acquiring an additional 862 shares in the last quarter. Osaic Holdings Inc. grew its position in Veracyte by 289.9% in the 2nd quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company's stock worth $33,000 after purchasing an additional 893 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Veracyte in the 1st quarter valued at about $48,000. Finally, GF Fund Management CO. LTD. purchased a new stake in Veracyte in the 4th quarter valued at about $64,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.