Veracyte (NASDAQ:VCYT) Earns Sell (D+) Rating from Weiss Ratings

Key Points

• Veracyte has received a "sell (D+)" rating from Weiss Ratings, indicating potential concerns about the stock's performance.
• Despite the sell rating, other analysts have varied opinions, with Zacks Research upgrading the stock to a "strong-buy" and setting a consensus target price of $40.90.
• Insider activity shows that SVP Annie Mcguire and CEO Marc Stapley sold shares recently, representing a small decrease in their ownership stakes.

Veracyte (NASDAQ:VCYT - Get Free Report)'s stock had its "sell (d+)" rating reiterated by equities researchers at Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

Other analysts also recently issued research reports about the company. Zacks Research upgraded Veracyte from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 6th. Morgan Stanley set a $28.00 price target on Veracyte and gave the stock an "underweight" rating in a research note on Friday, August 8th. Wall Street Zen upgraded Veracyte from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Canaccord Genuity Group started coverage on Veracyte in a research note on Monday. They set a "hold" rating and a $40.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.90.

Veracyte Price Performance

VCYT traded up $1.09 during trading on Friday, reaching $36.73. 497,580 shares of the stock traded hands, compared to its average volume of 826,320. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 38.74 and a beta of 2.11. Veracyte has a fifty-two week low of $22.61 and a fifty-two week high of $47.32. The stock's 50-day simple moving average is $32.92 and its two-hundred day simple moving average is $29.64.

Insider Transactions at Veracyte

In related news, SVP Annie Mcguire sold 2,283 shares of the business's stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $33.69, for a total transaction of $76,914.27. Following the transaction, the senior vice president directly owned 91,599 shares in the company, valued at $3,085,970.31. The trade was a 2.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Marc Stapley sold 7,667 shares of the business's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $30.41, for a total value of $233,153.47. Following the transaction, the chief executive officer owned 334,185 shares in the company, valued at $10,162,565.85. This represents a 2.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,299 shares of company stock worth $610,799. Company insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On Veracyte

Several institutional investors and hedge funds have recently added to or reduced their stakes in VCYT. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Veracyte during the second quarter valued at about $25,000. Osaic Holdings Inc. increased its stake in Veracyte by 289.9% during the second quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company's stock valued at $33,000 after acquiring an additional 893 shares during the period. Headlands Technologies LLC bought a new position in Veracyte during the first quarter valued at about $48,000. Covestor Ltd increased its stake in Veracyte by 23,936.4% during the first quarter. Covestor Ltd now owns 2,644 shares of the biotechnology company's stock valued at $78,000 after acquiring an additional 2,633 shares during the period. Finally, Pacer Advisors Inc. bought a new position in Veracyte during the third quarter valued at about $107,000.

Veracyte Company Profile

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.

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