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 $875,565 were sold by JONES EVAN/ FA on Aug 13 ’24. At $32.20 per share, JONES EVAN/ FA sold 27,188 shares. The insider’s holdings dropped to 5,173 shares worth approximately $0.17 million following the completion of this transaction.
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Also, JONES EVAN/ FA sold 20,457 shares, netting a total of over 658,801 in proceeds. Following the sale of shares at $32.20 each, the insider now holds 34,343 shares.
Before that, JONES EVAN/ FA had sold 101 shares from its account. In a trade valued at $3,031, the Director traded Veracyte Inc shares for $30.00 each. Upon closing the transaction, the insider’s holdings decreased to 101 shares, worth approximately $1.06 million.
As published in a research note from Needham on February 23, 2024, Veracyte Inc [VCYT] has been retained to a Buy and the price target has been revised to $33. Analysts at Raymond James downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in mid January. As of January 05, 2023, Scotiabank has initiated its “Sector outperform” rating for VCYT. Earlier on January 07, 2022, Stephens initiated its rating. Their recommendation was “an Overweight” for VCYT stock.
Analyzing VCYT Stock Performance
During the last five days, there has been a surge of approximately 8.98%. Over the course of the year, Veracyte Inc shares have jumped approximately 18.72%. Shares of the company reached a 52-week high of $33.06 on 08/15/24 and a 52-week low of $18.61 on 04/18/24. A 50-day SMA is recorded $23.48, while a 200-day SMA reached $23.57. Nevertheless, trading volume fell to 0.87 million shares from 1.74 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 31.95, which, if violated, would cause prices to drop to 31.25. In the upper region, resistance lies at 33.21. The next price resistance is at 33.77. RSI (Relative Strength Index) is 72.28 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 5.66, which suggests the price will increase in the coming days. Percent R is at 3.00%, indicating bullish price movement. Stochastics%K at selling indicates that the stock is to be held.
