Veracyte (NASDAQ:VCYT) Stock Crosses Above 50-Day Moving Average - What's Next?

Key Points

• Veracyte's stock price surpassed its fifty-day moving average of $31.95, trading at $34.78 with a high of $35.38 during recent trading.
• Analysts have varying opinions on Veracyte's stock, with ratings ranging from "Strong Buy" to "Underweight," and an average price target of $40.90.
• Insider selling activity includes transactions by SVP Annie Mcguire and CEO Marc Stapley, with a total of 18,299 shares sold in the last quarter.

Veracyte, Inc. (NASDAQ:VCYT - Get Free Report)'s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $31.95 and traded as high as $35.38. Veracyte shares last traded at $34.78, with a volume of 801,961 shares.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Morgan Stanley set a $28.00 price target on shares of Veracyte and gave the stock an "underweight" rating in a research report on Friday, August 8th. Weiss Ratings reissued a "sell (d+)" rating on shares of Veracyte in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Veracyte from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Zacks Research raised shares of Veracyte from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $40.90.

Veracyte Stock Up 2.4%

The firm has a fifty day moving average price of $31.95 and a 200 day moving average price of $29.32. The company has a market cap of $2.74 billion, a P/E ratio of 105.40 and a beta of 2.11.

Insider Transactions at Veracyte

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

Institutional Trading of Veracyte

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Veracyte in the second quarter valued at approximately $25,000. Osaic Holdings Inc. increased its holdings in shares of Veracyte by 289.9% in the second quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company's stock valued at $33,000 after purchasing an additional 893 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Veracyte in the first quarter valued at approximately $48,000. Covestor Ltd increased its holdings in shares of Veracyte by 23,936.4% in the first quarter. Covestor Ltd now owns 2,644 shares of the biotechnology company's stock valued at $78,000 after purchasing an additional 2,633 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in shares of Veracyte in the third quarter valued at approximately $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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