John Leite Sells 2,808 Shares of Veracyte (NASDAQ:VCYT) Stock

Veracyte, Inc. (NASDAQ:VCYT) insider John Leite sold 2,808 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $50.00, for a total transaction of $140,400.00. Following the transaction, the insider owned 86,291 shares in the company, valued at $4,314,550. This represents a 3.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Veracyte Stock Performance

Shares of VCYT stock traded down $1.67 during trading hours on Wednesday, reaching $47.71. The company had a trading volume of 1,081,979 shares, compared to its average volume of 1,110,494. The business has a fifty day moving average price of $37.15 and a 200-day moving average price of $31.03. Veracyte, Inc. has a one year low of $22.61 and a one year high of $50.71. The firm has a market cap of $3.77 billion, a PE ratio of 144.58 and a beta of 2.16.

Veracyte (NASDAQ:VCYT) last issued 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. The company had revenue of $131.87 million for the quarter, compared to analysts’ expectations of $124.62 million. Veracyte had a net margin of 5.50% and a return on equity of 6.07%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company posted $0.33 earnings per share. Veracyte has set its FY 2025 guidance at EPS. Equities research analysts forecast that Veracyte, Inc. will post 0.68 EPS for the current year.

Institutional Trading of Veracyte

Several hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. grew its position in Veracyte by 73.0% in the first quarter. Victory Capital Management Inc. now owns 97,786 shares of the biotechnology company’s stock worth $2,899,000 after acquiring an additional 41,248 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of Veracyte by 1.1% during the first quarter. Allianz Asset Management GmbH now owns 79,310 shares of the biotechnology company’s stock valued at $2,352,000 after buying an additional 900 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Veracyte by 12.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,368 shares of the biotechnology company’s stock valued at $871,000 after acquiring an additional 3,201 shares during the last quarter. Picton Mahoney Asset Management increased its stake in Veracyte by 3,824.9% in the 1st quarter. Picton Mahoney Asset Management now owns 260,495 shares of the biotechnology company’s stock worth $7,723,000 after buying an additional 253,858 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Veracyte in the first quarter valued at approximately $1,228,000.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Morgan Stanley increased their target price on Veracyte from $28.00 to $40.00 and gave the company an “underweight” rating in a report on Tuesday, November 11th. Zacks Research upgraded shares of Veracyte from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. UBS Group boosted their target price on shares of Veracyte from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Veracyte in a report on Tuesday. Finally, Guggenheim lifted their price target on shares of Veracyte from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Veracyte currently has an average rating of “Moderate Buy” and an average target price of $43.38.

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.