Veracyte, Inc. (NASDAQ:VCYT – Get Free Report) CFO Rebecca Chambers sold 3,652 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $43.10, for a total value of $157,401.20. Following the transaction, the chief financial officer owned 166,025 shares of the company’s stock, valued at $7,155,677.50. This trade represents a 2.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.
Veracyte Stock Performance
Shares of VCYT stock opened at $42.53 on Friday. The stock has a 50 day moving average price of $50.64 and a 200 day moving average price of $43.12. Veracyte, Inc. has a 52-week low of $29.45 and a 52-week high of $60.91. The firm has a market capitalization of $3.42 billion, a P/E ratio of 30.16 and a beta of 1.93.
Veracyte (NASDAQ:VCYT – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The biotechnology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. Veracyte had a return on equity of 9.26% and a net margin of 20.37%.The company had revenue of $150.32 million for the quarter, compared to the consensus estimate of $144.59 million. During the same quarter in the prior year, the company posted $0.44 EPS. Veracyte’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, sell-side analysts forecast that Veracyte, Inc. will post 1.32 EPS for the current year.
More Veracyte News
- Positive Sentiment: Institutional ownership trends remain supportive. Bank of America, Royal Bank of Canada and William Blair increased their positions, while Summit Creek Advisors and Deutsche Bank initiated new stakes. Analysts maintain a “Moderate Buy” consensus with an average price target of $54.33, above recent trading levels. Veracyte insider trading and institutional ownership report
- Neutral Sentiment: Veracyte’s most recent reported quarter showed earnings of $0.54 per share versus the $0.41 consensus estimate, while revenue rose 15.5% year over year to $150.32 million. These results provide a fundamental backdrop of continued growth, although they are not new developments in the latest disclosures.
- Negative Sentiment: EVP Annie McGuire sold 3,254 shares for approximately $140,215, CFO Rebecca Chambers sold 3,652 shares for about $157,401, and insider Phillip Febbo sold 13,110 shares valued at roughly $564,386. Each transaction was executed through a 10b5-1 plan to cover taxes, and the sellers retained substantial positions, limiting the signal that management is broadly abandoning the stock. Veracyte executive stock sale filing
- Negative Sentiment: Director Muna Bhanji separately sold 1,864 shares for approximately $80,096, reducing her position by 4.18%. The sale was also pre-arranged, but the cluster of insider transactions may reinforce short-term caution among investors. Muna Bhanji Veracyte stock sale
Analyst Upgrades and Downgrades
Several research analysts recently commented on VCYT shares. Weiss Ratings downgraded shares of Veracyte from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 24th. Piper Sandler lowered their price objective on shares of Veracyte from $66.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, August 4th. Guggenheim upped their target price on shares of Veracyte from $45.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Morgan Stanley reduced their target price on shares of Veracyte from $47.00 to $44.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 4th. Finally, Zacks Research raised shares of Veracyte from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.33.
Get Our Latest Analysis on VCYT
Institutional Investors Weigh In On Veracyte
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Veracyte by 21.2% in the second quarter. GAMMA Investing LLC now owns 1,121 shares of the biotechnology company’s stock valued at $66,000 after acquiring an additional 196 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Veracyte by 2.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,100 shares of the biotechnology company’s stock worth $762,000 after purchasing an additional 400 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Veracyte by 0.8% during the 2nd quarter. California State Teachers Retirement System now owns 71,095 shares of the biotechnology company’s stock valued at $1,922,000 after purchasing an additional 566 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Veracyte by 7.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 7,894 shares of the biotechnology company’s stock valued at $332,000 after purchasing an additional 576 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Veracyte by 159.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,104 shares of the biotechnology company’s stock worth $47,000 after purchasing an additional 679 shares in the last quarter.
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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