A company insider recently sold 8,720 shares of Veracyte Inc. [VCYT]. Should You Sale?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Veracyte Inc. shares valued at $141,846 were sold by Holstein Jens on Jun 14. At $16.27 per share, Holstein Jens sold 8,720 shares. The insider’s holdings dropped to 2,000 shares worth approximately $34100.0 following the completion of this transaction.


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Also, Stapley Marc purchased 60,000 shares, netting a total of over 980,094 in proceeds. Following the buying of shares at $16.33 each, the insider now holds 159,761 shares.

Before that, GORDON KEVIN K had sold 15,000 shares from its account. In a trade valued at $277,502, the Director traded Veracyte Inc. shares for $18.50 each. Upon closing the transaction, the insider’s holdings decreased to 15,000 shares, worth approximately $0.15 million.

As published in their initiating research note from Stephens on January 07, 2022, Veracyte Inc. [VCYT] has been an Overweight and the price target has been revised to $52. This represents a 67.21% premium over Wednesday’s closing price. As of June 15, 2021, Raymond James has initiated its “an Outperform” rating for VCYT.

Analyzing VCYT’s Price Performance

On Wednesday, Veracyte Inc. [NASDAQ: VCYT] plunged -5.70% to $17.05. The stock’s lowest price that day was $16.99, but it reached a high of $18.26 in the same session. During the last five days, there has been a drop of approximately -11.34%. Over the course of the year, Veracyte Inc. shares have dropped approximately -58.62%. Shares of the company reached a 52-week high of $42.95 on 01/03/22 and a 52-week low of $14.85 on 05/12/22. A 50-day SMA is recorded $23.04, while a 200-day SMA reached $25.62. Nevertheless, trading volume fell to 1.35 million shares from 1.61 million shares the previous day.

Support And Resistance Levels for Veracyte Inc. (VCYT)

According to the 24-hour chart, there is a support level at 16.61, which, if violated, would cause prices to drop to 16.16. In the upper region, resistance lies at 17.88. The next price resistance is at 18.70. RSI (Relative Strength Index) is 32.38 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.20, which suggests the price will decrease in the coming days. Percent R is at 98.51%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Veracyte Inc. subject to short interest?

Stocks of Veracyte Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.28 million shares to 3.91 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.63 million shares. A jump of 7.16% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.53 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.53.

Which companies own the most shares of Veracyte Inc. (VCYT)?

According to ARK Investment Management LLC filings, the company currently owns 8,856,245 shares, which is about 12.37% of the total VCYT shares outstanding. The investor’s shares have appreciated by 100,221 from its previous 13-F filing of 8756024.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $134,385,122. Wellington Management Co. LLP acquire a 19.11% interest valued at $119.38 million while SSgA Funds Management, Inc. purchased a 1,198,461 stake. A total of 184,805 shares of Veracyte Inc. were bought by BlackRock Fund Advisors during the quarter, and -198,377 were sold by Invesco Advisers, Inc. In its current portfolio, Artisan Partners LP holds 3,841,439 shares valued at $78.37 million.

In terms of Veracyte Inc. share price expectations, FactSet research, analysts set an average price target of $30.33 in the next 12 months, up nearly 71.46% from the previous closing price of $18.08. Analysts anticipate Veracyte Inc. stock to reach $35.00 by 2022, with the lowest price target being $23.00. In spite of this, 8 analysts ranked Veracyte Inc. stock as an Overweight at the end of 2022. On January 28, 2021, Truist assigned a price target of “a Buy” to the stock and initiated coverage with a $61.

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