Veracyte (NASDAQ:VCYT) Insider Sells 8,349 Shares

Key Points

• Phillip Febbo, an insider at Veracyte, sold 8,349 shares of stock on October 6th, reducing their holdings by 8.28% and bringing their total ownership to 92,441 shares valued at approximately $3.33 million.
• Veracyte's stock has seen significant trading activity, with shares recently trading at $34.61, down from a high of $47.32 over the past year, indicating fluctuations in market interest.
• Recent analyst ratings reflect mixed sentiment, with eight analysts recommending a Buy rating, while Morgan Stanley placed a $28.00 target price and a rating of "underweight" on the stock.

Veracyte, Inc. (NASDAQ:VCYT - Get Free Report) insider Phillip Febbo sold 8,349 shares of the firm's stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $36.02, for a total value of $300,730.98. Following the completion of the sale, the insider owned 92,441 shares of the company's stock, valued at $3,329,724.82. This represents a 8.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Veracyte Price Performance

Shares of NASDAQ VCYT traded down $1.43 during trading hours on Tuesday, reaching $34.61. The stock had a trading volume of 745,465 shares, compared to its average volume of 1,130,712. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 104.88 and a beta of 2.11. Veracyte, Inc. has a twelve month low of $22.61 and a twelve month high of $47.32. The business's fifty day moving average is $30.48 and its two-hundred day moving average is $29.15.

Hedge Funds Weigh In On Veracyte

A number of institutional investors have recently modified their holdings of the stock. Nuveen LLC bought a new stake in shares of Veracyte during the first quarter valued at approximately $33,003,000. Artisan Partners Limited Partnership boosted its position in Veracyte by 20.7% in the 2nd quarter. Artisan Partners Limited Partnership now owns 6,321,775 shares of the biotechnology company's stock valued at $170,878,000 after buying an additional 1,082,064 shares during the last quarter. Squarepoint Ops LLC boosted its position in Veracyte by 770.6% in the 2nd quarter. Squarepoint Ops LLC now owns 897,387 shares of the biotechnology company's stock valued at $24,256,000 after buying an additional 794,307 shares during the last quarter. Soleus Capital Management L.P. bought a new stake in shares of Veracyte during the second quarter worth $19,338,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Veracyte by 1,705.1% during the first quarter. Assenagon Asset Management S.A. now owns 488,061 shares of the biotechnology company's stock valued at $14,471,000 after acquiring an additional 461,023 shares during the period.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Morgan Stanley set a $28.00 target price on shares of Veracyte and gave the company an "underweight" rating in a research report on Friday, August 8th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Veracyte in a report on Saturday, September 27th. Finally, Wall Street Zen raised 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 issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Veracyte presently has a consensus rating of "Moderate Buy" and an average price target of $40.90.

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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