Veracyte, Inc. (VCYT) was a big mover last session, as the company saw its shares rise nearly 7% on the day. Shares moved up after the company announced that it has entered an agreement with Aetna Inc. to become a part of its laboratory network, effective Jul 1, 2015. This led to solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile range of $10.04 to $11.74 in the past one-month time frame.
This medical instruments stock witnessed one positive estimate revision over the past 30 days. The Zacks Consensus Estimate also moved up over the same time frame, suggesting that more solid trading could be ahead for Veracyte. So make sure to keep an eye on this stock going forward to see if Friday’s jump can turn into more strength down the road.
Veracyte has a Zacks Rank #3 (Hold), while its Earnings ESP is positive.
However, a better-ranked stock in the same space is Cepheid (CPHD), sporting Zacks Rank #1 (Strong Buy).
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