Veracyte, Inc. (NASDAQ:VCYT – Get Free Report) Director Muna Bhanji sold 1,864 shares of the company’s stock in a transaction on Monday, October 19th. The shares were sold at an average price of $43.70, for a total transaction of $81,456.80. Following the completion of the sale, the director directly owned 40,854 shares in the company, valued at $1,785,319.80. This represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Muna Bhanji also recently made the following trade(s):
- On Tuesday, September 1st, Muna Bhanji sold 1,864 shares of Veracyte stock. The shares were sold at an average price of $42.97, for a total transaction of $80,096.08.
Veracyte Price Performance
Shares of VCYT stock opened at $44.79 on Wednesday. The firm has a fifty day moving average of $43.35 and a two-hundred day moving average of $45.34. The firm has a market cap of $3.60 billion, a P/E ratio of 31.77 and a beta of 1.95. Veracyte, Inc. has a 1-year low of $29.45 and a 1-year high of $60.91.
Veracyte (NASDAQ:VCYT – Get Free Report) last issued its earnings results on Thursday, July 30th. The biotechnology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Veracyte had a net margin of 20.37% and a return on equity of 9.26%. The business had revenue of $150.32 million for the quarter, compared to analyst estimates of $144.59 million. During the same quarter in the prior year, the business posted $0.44 EPS. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, sell-side analysts expect that Veracyte, Inc. will post 1.32 EPS for the current year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. GAMMA Investing LLC grew its position in shares of Veracyte by 21.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,121 shares of the biotechnology company’s stock valued at $66,000 after buying an additional 196 shares during the last quarter. Abel Hall LLC raised its stake in Veracyte by 3.6% during the third quarter. Abel Hall LLC now owns 6,511 shares of the biotechnology company’s stock worth $300,000 after acquiring an additional 229 shares during the period. Allworth Financial LP raised its stake in Veracyte by 178.0% during the second quarter. Allworth Financial LP now owns 845 shares of the biotechnology company’s stock worth $50,000 after acquiring an additional 541 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Veracyte during the second quarter worth about $44,000. Finally, Assetmark Inc. lifted its holdings in Veracyte by 34.4% in the first quarter. Assetmark Inc. now owns 2,968 shares of the biotechnology company’s stock worth $96,000 after acquiring an additional 760 shares during the last quarter.
Analysts Set New Price Targets
Several brokerages have issued reports on VCYT. Wall Street Zen cut Veracyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 10th. Piper Sandler reduced their target price on Veracyte from $66.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, August 4th. Guggenheim lifted their target price on Veracyte from $45.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. UBS Group boosted their price target on Veracyte from $52.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. Finally, Morgan Stanley dropped their price target on Veracyte from $47.00 to $44.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.78.
Get Our Latest Analysis on VCYT
About Veracyte
Veracyte, Inc is a diagnostics company that develops genomic tests to help physicians diagnose cancer, assess disease risk and guide treatment decisions. Its tests are designed to provide additional molecular information from patient samples, often helping reduce uncertainty and support more personalized care.
The company’s portfolio includes Afirma tests for thyroid nodules, Decipher tests for prostate cancer, Percepta tests for lung cancer and Envisio tests for breast cancer. Veracyte also develops and commercializes additional genomic assays intended for use across various cancer types and clinical settings.
Founded in 2008 and headquartered in South San Francisco, California, Veracyte primarily serves the U.S.
Featured Articles
- Five stocks we like better than Veracyte
- Aurora Rejects Curaleaf’s Higher Bid, But the Takeover Fight Isn’t Over
- Centrus Energy Is Building a Nuclear Fuel Powerhouse—Why Is Its Stock Struggling?
- Halliburton Gains Traction: Multiyear Upcycle Ahead
- Meta Platforms’ AI Comeback Faces an Earnings Test—And a $10 Billion Charge
Receive News & Ratings for Veracyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veracyte and related companies with MarketBeat.com's FREE daily email newsletter.
