Annie Mcguire Sells 6,466 Shares of Veracyte (NASDAQ:VCYT) Stock

Veracyte, Inc. (NASDAQ:VCYT) SVP Annie Mcguire sold 6,466 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $40.00, for a total value of $258,640.00. Following the completion of the transaction, the senior vice president directly owned 82,973 shares in the company, valued at approximately $3,318,920. This represents a 7.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Annie Mcguire also recently made the following trade(s):

• On Friday, September 19th, Annie Mcguire sold 2,283 shares of Veracyte stock. The shares were sold at an average price of $33.69, for a total value of $76,914.27.

Veracyte Price Performance

NASDAQ VCYT opened at $41.70 on Friday. The business’s fifty day moving average is $34.59 and its 200-day moving average is $30.09. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 126.37 and a beta of 2.16. Veracyte, Inc. has a one year low of $22.61 and a one year high of $47.32.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.19. The company had revenue of $131.87 million during the quarter, compared to analyst estimates of $124.62 million. Veracyte had a net margin of 5.50% and a return on equity of 6.07%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 earnings per share. Veracyte has set its FY 2025 guidance at EPS. Research analysts expect that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Veracyte

A number of large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Veracyte by 54.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,538 shares of the biotechnology company’s stock valued at $400,000 after purchasing an additional 4,792 shares during the period. Principal Financial Group Inc. boosted its stake in Veracyte by 9.5% in the 1st quarter. Principal Financial Group Inc. now owns 35,663 shares of the biotechnology company’s stock worth $1,057,000 after purchasing an additional 3,103 shares during the period. Bank of New York Mellon Corp grew its holdings in Veracyte by 2.0% during the 1st quarter. Bank of New York Mellon Corp now owns 248,224 shares of the biotechnology company’s stock valued at $7,360,000 after buying an additional 4,772 shares in the last quarter. Xponance Inc. increased its position in shares of Veracyte by 5.7% during the first quarter. Xponance Inc. now owns 6,860 shares of the biotechnology company’s stock valued at $203,000 after buying an additional 370 shares during the period. Finally, Rice Hall James & Associates LLC increased its position in shares of Veracyte by 20.8% during the first quarter. Rice Hall James & Associates LLC now owns 115,458 shares of the biotechnology company’s stock valued at $3,423,000 after buying an additional 19,843 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Veracyte from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday. Zacks Research raised Veracyte from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Wall Street Zen raised Veracyte from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Canaccord Genuity Group increased their price target on Veracyte from $40.00 to $43.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, UBS Group lifted their price objective on Veracyte from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.78.

Veracyte Company Profile

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.