Veracyte (NASDAQ:VCYT) Director Sells $387,153.48 in Stock

Veracyte, Inc. (NASDAQ:VCYT) Director Karin Eastham sold 9,674 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $40.02, for a total transaction of $387,153.48. Following the completion of the transaction, the director owned 13,554 shares of the company’s stock, valued at approximately $542,431.08. This represents a 41.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Veracyte Stock Up 0.0%

VCYT stock opened at $41.70 on Monday. Veracyte, Inc. has a 52-week low of $22.61 and a 52-week high of $47.32. The company’s 50-day simple moving average is $34.59 and its 200-day simple moving average is $30.08. The firm has a market cap of $3.30 billion, a P/E ratio of 126.37 and a beta of 2.16.

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

Institutional Investors Weigh In On Veracyte

A number of hedge funds have recently added to or reduced their stakes in the business. First Horizon Corp purchased a new position in Veracyte in the 3rd quarter valued at approximately $31,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Veracyte in the second quarter valued at $25,000. Osaic Holdings Inc. boosted its holdings in Veracyte by 289.9% in the second quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 893 shares during the period. Headlands Technologies LLC acquired a new position in Veracyte during the 1st quarter worth $48,000. Finally, Covestor Ltd grew its stake in Veracyte by 23,936.4% during the 1st quarter. Covestor Ltd now owns 2,644 shares of the biotechnology company’s stock worth $78,000 after purchasing an additional 2,633 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Guggenheim increased their target price on Veracyte from $40.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Morgan Stanley set a $28.00 price objective on shares of Veracyte and gave the company an “underweight” rating in a report on Friday, August 8th. Canaccord Genuity Group lifted their target price on Veracyte from $40.00 to $43.00 and gave the company a “hold” rating in a research report on Wednesday. Wall Street Zen upgraded shares of Veracyte from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Weiss Ratings upgraded Veracyte from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Veracyte currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.78.

About Veracyte

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.