Veracyte (NASDAQ:VCYT) Director Jens Holstein Sells 10,000 Shares

Veracyte, Inc. (NASDAQ:VCYT) Director Jens Holstein sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $42.36, for a total value of $423,600.00. Following the transaction, the director directly owned 27,199 shares in the company, valued at approximately $1,152,149.64. This represents a 26.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Veracyte Stock Performance

VCYT traded up $3.16 during midday trading on Friday, hitting $44.01. The stock had a trading volume of 1,184,952 shares, compared to its average volume of 1,106,836. Veracyte, Inc. has a 1 year low of $22.61 and a 1 year high of $47.32. The business has a fifty day moving average of $36.51 and a 200 day moving average of $30.78. The company has a market cap of $3.48 billion, a P/E ratio of 133.37 and a beta of 2.16.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.19. The firm 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 business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 EPS. Veracyte has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Hedge Funds Weigh In On Veracyte

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Champlain Investment Partners LLC bought a new stake in Veracyte in the third quarter valued at $40,064,000. Nuveen LLC purchased a new stake in shares of Veracyte in the 1st quarter worth about $33,003,000. Artisan Partners Limited Partnership boosted its stake in shares of Veracyte by 20.7% during the 2nd quarter. Artisan Partners Limited Partnership now owns 6,321,775 shares of the biotechnology company’s stock valued at $170,878,000 after purchasing an additional 1,082,064 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of Veracyte by 770.6% during the second quarter. Squarepoint Ops LLC now owns 897,387 shares of the biotechnology company’s stock valued at $24,256,000 after buying an additional 794,307 shares during the period. Finally, Fred Alger Management LLC purchased a new position in shares of Veracyte during the third quarter valued at about $26,348,000.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Canaccord Genuity Group lifted their price objective on Veracyte from $40.00 to $43.00 and gave the stock a “hold” rating in a report on Wednesday, November 5th. UBS Group lifted their price target on Veracyte from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Wall Street Zen upgraded Veracyte from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 16th. Morgan Stanley raised their target price on shares of Veracyte from $28.00 to $40.00 and gave the stock an “underweight” rating in a report on Tuesday, November 11th. Finally, Guggenheim upped their price target on shares of Veracyte from $40.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Veracyte has a consensus rating of “Moderate Buy” and a consensus target price of $43.38.

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.