Press coverage about Veracyte (NASDAQ:VCYT) has been trending somewhat positive this week, Accern reports. The research firm identifies positive and negative press coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Veracyte earned a news sentiment score of 0.20 on Accern’s scale. Accern also assigned news coverage about the biotechnology company an impact score of 46.2473055439385 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Several research analysts recently weighed in on VCYT shares. Piper Jaffray Companies restated a “buy” rating on shares of Veracyte in a research report on Tuesday, September 12th. BTIG Research reiterated a “buy” rating and set a $13.00 target price on shares of Veracyte in a research report on Thursday, August 31st. ValuEngine cut shares of Veracyte from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Zacks Investment Research cut shares of Veracyte from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. Finally, Janney Montgomery Scott cut shares of Veracyte from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $11.85.
Shares of Veracyte (VCYT) traded up $0.06 during trading on Friday, hitting $6.55. 108,700 shares of the company’s stock traded hands, compared to its average volume of 129,772. Veracyte has a 52 week low of $5.75 and a 52 week high of $9.80. The company has a debt-to-equity ratio of 0.59, a current ratio of 5.19 and a quick ratio of 4.86.
Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Monday, November 6th. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.21). Veracyte had a negative net margin of 38.19% and a negative return on equity of 52.99%. The company had revenue of $17.50 million during the quarter, compared to analyst estimates of $19.54 million. During the same quarter in the previous year, the business earned ($0.20) EPS. The firm’s revenue was down 5.9% on a year-over-year basis. sell-side analysts forecast that Veracyte will post -0.87 EPS for the current year.
In other news, Director Evan/ Fa Jones sold 22,500 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $7.81, for a total value of $175,725.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Bonnie H. Anderson sold 6,000 shares of the business’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $8.44, for a total transaction of $50,640.00. Following the completion of the transaction, the chairman now directly owns 16,000 shares of the company’s stock, valued at approximately $135,040. The disclosure for this sale can be found here. Insiders sold a total of 70,500 shares of company stock valued at $611,465 in the last three months. 13.40% of the stock is owned by company insiders.
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Veracyte, Inc is a genomic diagnostics company. The Company uses genomic technology to resolve diagnostic ambiguity. It targets diseases in which patients undergo invasive diagnostic procedures. Its products combine genomic technology, clinical science and machine learning. The Company commercializes over three genomic tests, which are transforming the diagnosis of thyroid cancer, lung cancer and idiopathic pulmonary fibrosis.
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