Veracyte, Inc. (NASDAQ:VCYT – Get Rating) fell 8.6% during mid-day trading on Tuesday . The company traded as low as $19.00 and last traded at $19.08. 38,493 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 717,068 shares. The stock had previously closed at $20.88.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on VCYT. Needham & Company LLC raised their price objective on shares of Veracyte from $26.00 to $31.00 and gave the company a "buy" rating in a report on Wednesday, August 3rd. Raymond James raised their price objective on shares of Veracyte from $30.00 to $31.00 and gave the company an "outperform" rating in a report on Thursday, August 4th. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Veracyte has a consensus rating of "Moderate Buy" and a consensus target price of $42.50.
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Veracyte Trading Up 0.2 %
The firm's fifty day simple moving average is $23.62 and its 200-day simple moving average is $22.57.
Veracyte (NASDAQ:VCYT – Get Rating) last released its quarterly earnings results on Tuesday, August 2nd. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.08. The firm had revenue of $72.86 million during the quarter, compared to analyst estimates of $67.37 million. Veracyte had a negative net
margin of 18.13% and a negative return on equity of 4.05%. On average, sell-side analysts forecast that Veracyte, Inc. will post -0.8 earnings per share for the current year.
Institutional Trading of Veracyte
Hedge funds have recently modified their holdings of the stock. Point72 Hong Kong Ltd bought a new stake in shares of Veracyte in the 1st quarter valued at $33,000. Assetmark Inc. increased its stake in shares of Veracyte by 90.3% in the 2nd quarter. Assetmark Inc. now owns 2,596 shares of the biotechnology company's stock valued at $52,000 after acquiring an additional 1,232 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Veracyte in the 1st quarter valued at $73,000. Captrust Financial Advisors increased its stake in shares of Veracyte by 712.9% in the 2nd quarter. Captrust Financial Advisors now owns 3,219 shares of the biotechnology company's stock valued at $64,000 after acquiring an additional 2,823 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Veracyte by 46.3% in the 1st quarter. Lazard Asset Management LLC now owns 3,410 shares of the biotechnology company's stock valued at $94,000 after acquiring an additional 1,079 shares in the last quarter.
Veracyte Company Profile
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Veracyte, Inc operates as a diagnostics company worldwide. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas, which are used to determine patients with indeterminate results are benign to avoid unnecessary surgery; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Genomic Sequencing Classifier and Percepta Nasal Swab Test for lung cancer diagnosis; Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis; and Immunoscore Colon Cancer test for colon cancer diagnosis.
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