Veracyte (VCYT) Downgraded to Buy at BidaskClub

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BidaskClub lowered shares of Veracyte (NASDAQ:VCYT) from a strong-buy rating to a buy rating in a research report report published on Thursday, BidAskClub reports.

Several other brokerages have also recently issued reports on VCYT. Zacks Investment Research raised shares of Veracyte from a hold rating to a buy rating and set a $23.00 price objective for the company in a research note on Saturday, March 2nd. BTIG Research boosted their price objective on shares of Veracyte to $17.00 and gave the company a buy rating in a research note on Friday, January 4th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Veracyte has an average rating of Buy and a consensus target price of $15.83.

Shares of NASDAQ VCYT opened at $23.03 on Thursday. Veracyte has a 52-week low of $5.50 and a 52-week high of $26.75. The firm has a market cap of $946.74 million, a PE ratio of -37.15 and a beta of 1.03. The company has a debt-to-equity ratio of 0.30, a current ratio of 7.42 and a quick ratio of 7.16.

In related news, Chairman Bonnie H. Anderson sold 20,000 shares of Veracyte stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $20.94, for a total transaction of $418,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Bonnie H. Anderson sold 8,000 shares of Veracyte stock in a transaction on Monday, February 11th. The shares were sold at an average price of $18.17, for a total transaction of $145,360.00. Following the transaction, the chief executive officer now owns 84,541 shares in the company, valued at approximately $1,536,109.97. The disclosure for this sale can be found here. Insiders have sold a total of 956,151 shares of company stock valued at $19,865,410 over the last three months. Corporate insiders own 13.70% of the company’s stock.

Several large investors have recently bought and sold shares of VCYT. Group One Trading L.P. acquired a new position in shares of Veracyte during the 4th quarter valued at $29,000. Tower Research Capital LLC TRC lifted its holdings in shares of Veracyte by 562.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 12,640 shares of the biotechnology company’s stock valued at $121,000 after acquiring an additional 10,732 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Veracyte during the 3rd quarter valued at $127,000. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Veracyte by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,544 shares of the biotechnology company’s stock valued at $133,000 after acquiring an additional 8,235 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Veracyte during the 4th quarter valued at $140,000. Institutional investors and hedge funds own 89.89% of the company’s stock.

Veracyte Company Profile

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.

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