Veracyte (NASDAQ:VCYT) SVP Sells $258,640.00 in Stock

Veracyte, Inc. (NASDAQ:VCYT) SVP Annie Mcguire sold 6,466 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $40.00, for a total transaction of $258,640.00. Following the transaction, the senior vice president owned 82,973 shares in the company, valued at $3,318,920. This trade represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $33.69, for a total transaction of $76,914.27.

Veracyte Stock Performance

Shares of Veracyte stock opened at $41.70 on Monday. Veracyte, Inc. has a 1 year low of $22.61 and a 1 year high of $47.32. The firm’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 PE ratio of 126.37 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, beating 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 during the quarter, compared to analyst estimates of $124.62 million. During the same period in the previous year, the company earned $0.33 earnings per share. Veracyte’s quarterly revenue was up 13.8% on a year-over-year basis. Veracyte has set its FY 2025 guidance at EPS. On average, equities analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on VCYT shares. Canaccord Genuity Group lifted their price objective on shares of Veracyte from $40.00 to $43.00 and gave the stock a “hold” rating in a report on Wednesday. Zacks Research upgraded shares of Veracyte from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Wall Street Zen raised shares of Veracyte from a “buy” rating to a “strong-buy” rating in a report on Saturday. Needham & Company LLC increased their price objective on shares of Veracyte from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, UBS Group raised their target price on shares of Veracyte from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Veracyte presently has a consensus rating of “Moderate Buy” and an average price target of $42.78.

Hedge Funds Weigh In On Veracyte

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its position in Veracyte by 54.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 13,538 shares of the biotechnology company’s stock worth $400,000 after purchasing an additional 4,792 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Veracyte by 2.0% in the 1st quarter. Bank of New York Mellon Corp now owns 248,224 shares of the biotechnology company’s stock worth $7,360,000 after buying an additional 4,772 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Veracyte by 9.5% in the first quarter. Principal Financial Group Inc. now owns 35,663 shares of the biotechnology company’s stock valued at $1,057,000 after buying an additional 3,103 shares during the period. AlphaQuest LLC boosted its stake in Veracyte by 1,279.9% during the second quarter. AlphaQuest LLC now owns 8,031 shares of the biotechnology company’s stock valued at $217,000 after buying an additional 7,449 shares in the last quarter. Finally, Strs Ohio bought a new position in Veracyte during the first quarter valued at about $848,000.

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.