Veracyte (NASDAQ:VCYT) Director Karin Eastham Sells 9,674 Shares

Veracyte, Inc. (NASDAQ:VCYT) Director Karin Eastham sold 9,674 shares of the business’s stock in a transaction that occurred 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 sale, the director directly owned 13,554 shares in the company, valued at approximately $542,431.08. This trade represents a 41.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Veracyte Stock Up 0.0%

VCYT traded up $0.01 on Friday, hitting $41.70. The company’s stock had a trading volume of 1,160,500 shares, compared to its average volume of 1,114,577. Veracyte, Inc. has a 12 month low of $22.61 and a 12 month high of $47.32. The firm has a market cap of $3.28 billion, a P/E ratio of 126.37 and a beta of 2.16. The company’s 50 day simple moving average is $34.36 and its 200-day simple moving average is $30.02.

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

Hedge Funds Weigh In On Veracyte

Hedge funds and other institutional investors have recently modified their holdings of the company. Xponance Inc. boosted its stake in Veracyte by 5.7% in the first quarter. Xponance Inc. now owns 6,860 shares of the biotechnology company’s stock worth $203,000 after buying an additional 370 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Veracyte by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 23,158 shares of the biotechnology company’s stock valued at $795,000 after purchasing an additional 419 shares during the last quarter. Blair William & Co. IL raised its position in Veracyte by 3.5% in the 1st quarter. Blair William & Co. IL now owns 16,092 shares of the biotechnology company’s stock worth $477,000 after purchasing an additional 550 shares during the period. California State Teachers Retirement System raised its position in Veracyte by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 71,095 shares of the biotechnology company’s stock worth $1,922,000 after purchasing an additional 566 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in Veracyte by 4.6% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 17,991 shares of the biotechnology company’s stock worth $486,000 after purchasing an additional 790 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on VCYT shares. Morgan Stanley set a $28.00 target price on Veracyte and gave the company an “underweight” rating in a report on Friday, August 8th. Canaccord Genuity Group raised their price objective on shares of Veracyte from $40.00 to $43.00 and gave the company a “hold” rating in a research report on Wednesday. Needham & Company LLC upped their target price on shares of Veracyte from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group raised their price target on shares of Veracyte from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Veracyte in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $42.90.

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.