Veracyte, Inc. (NASDAQ:VCYT – Get Free Report) EVP Annie Mcguire sold 3,176 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $49.76, for a total transaction of $158,037.76. Following the completion of the sale, the executive vice president owned 137,240 shares in the company, valued at $6,829,062.40. This represents a 2.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Annie Mcguire also recently made the following trade(s):
- On Wednesday, May 6th, Annie Mcguire sold 10,204 shares of Veracyte stock. The stock was sold at an average price of $39.02, for a total transaction of $398,160.08.
Veracyte Price Performance
VCYT opened at $49.94 on Friday. Veracyte, Inc. has a fifty-two week low of $22.61 and a fifty-two week high of $50.71. The firm has a market capitalization of $3.98 billion, a PE ratio of 45.82 and a beta of 1.98. The company’s 50-day moving average is $37.48 and its 200 day moving average is $39.01.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. grew its position in shares of Veracyte by 667.9% during the 3rd quarter. Principal Financial Group Inc. now owns 435,761 shares of the biotechnology company’s stock valued at $14,960,000 after acquiring an additional 379,014 shares during the period. First Trust Advisors LP grew its position in shares of Veracyte by 23.6% during the 3rd quarter. First Trust Advisors LP now owns 1,324,965 shares of the biotechnology company’s stock valued at $45,486,000 after acquiring an additional 253,033 shares during the period. Artisan Partners Limited Partnership grew its position in shares of Veracyte by 16.6% during the 3rd quarter. Artisan Partners Limited Partnership now owns 7,370,467 shares of the biotechnology company’s stock valued at $253,028,000 after acquiring an additional 1,048,692 shares during the period. Westview Management dba Westview Investment Advisors bought a new position in shares of Veracyte during the 4th quarter valued at approximately $1,376,000. Finally, Illinois Municipal Retirement Fund bought a new position in shares of Veracyte during the 3rd quarter valued at approximately $1,384,000.
Analyst Ratings Changes
Several equities research analysts have commented on the stock. Canaccord Genuity Group increased their price objective on shares of Veracyte from $40.00 to $42.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Zacks Research lowered shares of Veracyte from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. Wolfe Research assumed coverage on shares of Veracyte in a research note on Tuesday. They issued an “outperform” rating and a $55.00 price objective for the company. Needham & Company LLC increased their price objective on shares of Veracyte from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Monday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Veracyte in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.57.
Key Stories Impacting Veracyte
Here are the key news stories impacting Veracyte this week:
- Positive Sentiment: Veracyte has remained up sharply since its last earnings report, reflecting continued investor confidence in the company’s recent results and outlook. Why Is Veracyte (VCYT) Up 18.2% Since Last Earnings Report?
- Positive Sentiment: The company also highlighted ASCO findings from its OPTIMA and ENZAMET Phase III breast and prostate cancer trials, which could help reinforce Veracyte’s growth narrative in precision diagnostics. Veracyte, Inc. (VCYT) Discusses ASCO Findings From OPTIMA and ENZAMET Phase III Trials in Breast and Prostate Cancer – Slideshow
- Neutral Sentiment: Canaccord Genuity reiterated a Hold rating on Veracyte, suggesting analysts remain cautious despite the recent rally. Canaccord Genuity Reaffirms Their Hold Rating on Veracyte (VCYT)
- Neutral Sentiment: Veracyte presented at the William Blair Growth Stock Conference, a routine investor-relations event that may help maintain visibility but is unlikely to move the stock on its own. Veracyte, Inc. (VCYT) Presents at 46th Annual William Blair Growth Stock Conference – Slideshow
- Negative Sentiment: Several executives sold shares on June 4, including CEO Marc Stapley, CFO Rebecca Chambers, EVP Annie McGuire, and insider John Leite. The sales were made under pre-arranged 10b5-1 plans and tied to tax withholding from equity vesting, which limits the bearish signal, but the size of the CEO sale could still pressure sentiment. Marc Stapley insider trade
About Veracyte
Veracyte, Inc is a genomic diagnostics company focused on improving diagnostic accuracy and patient care through advanced molecular testing. Founded in 2008 and headquartered in South San Francisco, California, the company develops and commercializes minimally invasive genomic tests that aid in the diagnosis of thyroid, lung and other diseases. Veracyte’s proprietary platform analyzes gene expression patterns in clinical samples to help physicians make more informed treatment decisions, reducing unnecessary surgeries and improving patient outcomes.
The company’s flagship product, the Afirma Genomic Sequencing Classifier, is designed to assess thyroid nodules with indeterminate cytology, helping clinicians distinguish benign from suspicious nodules.
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