Veracyte (VCYT) Sees Unusually-High Trading Volume

Veracyte Inc (NASDAQ:VCYT) shares saw unusually-high trading volume on Friday . Approximately 1,865,865 shares changed hands during trading, an increase of 230% from the previous session’s volume of 565,821 shares.The stock last traded at $21.66 and had previously closed at $21.00.

VCYT has been the topic of several analyst reports. BidaskClub upgraded Veracyte from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 22nd. Zacks Investment Research upgraded Veracyte from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Saturday, March 2nd. Janney Montgomery Scott downgraded Veracyte from a “buy” rating to a “neutral” rating and set a $12.30 price target on the stock. in a report on Thursday, November 29th. Finally, BTIG Research increased their price target on Veracyte to $17.00 and gave the company a “buy” rating in a report on Friday, January 4th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. Veracyte presently has an average rating of “Buy” and an average target price of $15.83.

The company has a debt-to-equity ratio of 0.30, a current ratio of 7.42 and a quick ratio of 7.16. The stock has a market cap of $864.54 million, a price-to-earnings ratio of -34.94 and a beta of 1.00.

In other news, CEO Bonnie H. Anderson sold 8,000 shares of the stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $18.17, for a total value of $145,360.00. Following the completion of the sale, the chief executive officer now directly owns 84,541 shares of the company’s stock, valued at $1,536,109.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jesse I. Treu sold 427,151 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $20.21, for a total value of $8,632,721.71. Following the completion of the sale, the director now directly owns 1,642 shares of the company’s stock, valued at $33,184.82. The disclosure for this sale can be found here. Insiders sold 893,651 shares of company stock valued at $18,042,585 over the last three months. 13.70% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Group One Trading L.P. bought a new stake in shares of Veracyte in the fourth quarter valued at approximately $29,000. Metropolitan Life Insurance Co. NY lifted its position in Veracyte by 356.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,544 shares of the biotechnology company’s stock worth $133,000 after purchasing an additional 8,235 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in Veracyte in the fourth quarter worth $140,000. Tower Research Capital LLC TRC lifted its position in Veracyte by 562.5% in the third quarter. Tower Research Capital LLC TRC now owns 12,640 shares of the biotechnology company’s stock worth $121,000 after purchasing an additional 10,732 shares during the period. Finally, First Quadrant L P CA bought a new position in Veracyte in the fourth quarter worth $162,000. 91.17% of the stock is owned by institutional investors.

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Veracyte Company Profile (NASDAQ:VCYT)

Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.

See Also: Liquidity

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