Revenue Update on Veracyte Inc(NASDAQ:VCYT)

Veracyte Inc(NASDAQ:VCYT) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $14.68M. Analysts estimated a revenue of $14.83M. Earnings per share were $-0.40. Analysts had estimated an EPS of $-0.34.

Veracyte Inc (VCYT) remained unchanged at the close of Friday session. Even as the volume increased to 1,45,322 ,the shares failed to make any impression and ended at 0 points or 0.00% at $5.05. The trading session commenced at $5.05 and the stock hit a high of $5.06 and touched $4.98 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $10.9425 and the 52-week low is $4.21. The company has a market cap of $141 M and has approximately 2,78,64,442 outstanding shares.

Several Insider Transactions has been reported to the SEC. On Jun 3, 2016, Bonnie H Anderson (CEO) purchased 5,000 shares at $5.40 per share price.Also, On Nov 25, 2015, Evan/ Fa Jones (director) sold 15,000 shares at $7.22 per share price.On Jul 28, 2015, Shelly D Guyer (Chief Financial Officer) sold 1,000 shares at $12.47 per share price, according to the Form-4 filing with the securities and exchange commission.

Veracyte Inc. is a molecular diagnostics company. The Company is engaged in the field of molecular cytology providing genomic solutions to resolve diagnostic ambiguity and enable physicians to make treatment decisions at an early stage in patient care. It targets diseases in which a large number of patients undergo invasive diagnostic procedures that could be avoided with a diagnosis from a cytology sample. The Company’s commercial solution the Afirma Thyroid FNA Analysis includes as its centerpiece the Gene Expression Classifier (GEC). The GEC allows physicians reduce the number of surgeries by employing a 142-gene signature to pre-operatively determine whether thyroid nodules previously classified by cytopathology as indeterminate can be reclassified as benign. The offering also includes cytopathology testing and the Afirma Malignancy Classifiers. The Company markets and sells Afrma through a co-promotion agreement with Genzyme Corporation a subsidiary of Sanofi.

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