Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Veracyte Inc. shares valued at $895,838 were sold by Anderson Bonnie H on Jan 17. At $26.35 per share, Anderson Bonnie H sold 34,000 shares. The insider’s holdings dropped to 62,961 shares worth approximately $1.49 million following the completion of this transaction.
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Also, Anderson Bonnie H sold 63,247 shares, netting a total of over 1,589,195 in proceeds. Following the sale of shares at $25.13 each, the insider now holds 62,961 shares.
Before that, JONES EVAN/ FA had sold 600 shares from its account. In a trade valued at $18,080, the Director traded Veracyte Inc. shares for $30.13 each. Upon closing the transaction, the insider’s holdings decreased to 600 shares, worth approximately $1.19 million.
As published in a research note from Raymond James on January 18, 2023, Veracyte Inc. [VCYT] has been rated down from an Outperform to a Mkt perform. Analysts at Scotiabank started covering the stock with ‘”a Sector outperform”‘ outlook in a report released in early January. As of January 07, 2022, Stephens has initiated its “an Overweight” rating for VCYT.
Analyzing VCYT Stock Performance
On Wednesday, Veracyte Inc. [NASDAQ: VCYT] plunged -3.70% to $23.70. The stock’s lowest price that day was $23.68, but it reached a high of $24.65 in the same session. During the last five days, there has been a drop of approximately -0.84%. Over the course of the year, Veracyte Inc. shares have dropped approximately -0.13%. Shares of the company reached a 52-week high of $28.58 on 02/02/23 and a 52-week low of $22.03 on 01/06/23. A 50-day SMA is recorded $25.11, while a 200-day SMA reached $22.51. Nevertheless, trading volume fell to 1.04 million shares from 0.48 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 23.37, which, if violated, would cause prices to drop to 23.04. In the upper region, resistance lies at 24.34. The next price resistance is at 24.98. RSI (Relative Strength Index) is 44.18 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.50, which suggests the price will decrease in the coming days. Percent R is at 75.03%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Veracyte Inc. subject to short interest?
Stocks of Veracyte Inc. saw a sharp steep in short interest on Jan 12, 2023 dropping by -0.97 million shares to 2.55 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 3.52 million shares. A decline of -38.04% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.83 of the overall float, the days-to-cover ratio (short ratio) decline to 2.83.
Which companies own the most shares of Veracyte Inc. (VCYT)?
According to ARK Investment Management LLC filings, the company currently owns 8,300,241 shares, which is about 11.57% of the total VCYT shares outstanding. The investor’s shares have plunged by -781,122 from its previous 13-F filing of 9081363.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $169,232,230. Wellington Management Co. LLP acquire a 13.24% interest valued at $166.78 million while BlackRock Fund Advisors purchased a 243,238 stake. A total of -1,064,565 shares of Veracyte Inc. were bought by SSgA Funds Management, Inc. during the quarter, and -45,459 were sold by Artisan Partners LP. In its current portfolio, Nikko Asset Management Americas, holds 3,064,445 shares valued at $77.01 million.
In terms of Veracyte Inc. share price expectations, FactSet research, analysts set an average price target of $31.67 in the next 12 months, up nearly 38.16% from the previous closing price of $24.61. Analysts anticipate Veracyte Inc. stock to reach $35.00 by 2023, with the lowest price target being $22.00. In spite of this, 9 analysts ranked Veracyte Inc. stock as an Overweight at the end of 2023. On June 15, 2021, Raymond James assigned a price target of “an Outperform” to the stock and initiated coverage with a $45.