Veracyte Inc (NASDAQ:VCYT) – Equities researchers at Svb Leerink cut their Q2 2019 EPS estimates for shares of Veracyte in a research note issued to investors on Wednesday, May 1st. Svb Leerink analyst P. Souda now forecasts that the biotechnology company will earn ($0.10) per share for the quarter, down from their previous forecast of ($0.09). Svb Leerink also issued estimates for Veracyte’s Q3 2019 earnings at ($0.08) EPS, Q4 2019 earnings at ($0.06) EPS, FY2019 earnings at ($0.29) EPS, Q1 2020 earnings at $0.00 EPS, Q2 2020 earnings at ($0.03) EPS and FY2020 earnings at ($0.03) EPS.
Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Monday, February 25th. The biotechnology company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.05. Veracyte had a negative net margin of 15.51% and a negative return on equity of 25.53%. The company had revenue of $25.75 million for the quarter, compared to analyst estimates of $24.33 million.
VCYT opened at $24.60 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 7.16 and a current ratio of 7.42. Veracyte has a fifty-two week low of $5.86 and a fifty-two week high of $26.80. The stock has a market cap of $952.26 million, a P/E ratio of -39.68 and a beta of 0.95.
In related news, insider Christopher M. Hall sold 80,000 shares of the firm’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $25.12, for a total transaction of $2,009,600.00. Following the completion of the sale, the insider now owns 46,641 shares in the company, valued at $1,171,621.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jesse I. Treu sold 427,151 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $20.21, for a total transaction of $8,632,721.71. Following the sale, the director now owns 1,642 shares of the company’s stock, valued at approximately $33,184.82. The disclosure for this sale can be found here. Insiders have sold 956,151 shares of company stock valued at $19,865,410 in the last 90 days. 13.70% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Group One Trading L.P. purchased a new stake in Veracyte during the fourth quarter worth about $29,000. BNP Paribas Arbitrage SA increased its holdings in Veracyte by 65,322.2% during the first quarter. BNP Paribas Arbitrage SA now owns 5,888 shares of the biotechnology company’s stock worth $147,000 after buying an additional 5,879 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in Veracyte by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,544 shares of the biotechnology company’s stock worth $133,000 after buying an additional 8,235 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Veracyte during the fourth quarter worth about $140,000. Finally, First Quadrant L P CA purchased a new position in shares of Veracyte in the fourth quarter worth about $162,000. Institutional investors and hedge funds own 89.80% of the company’s stock.
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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