Veracyte, Inc. (NASDAQ:VCYT – Get Free Report) insider John Leite sold 13,975 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $50.07, for a total transaction of $699,728.25. Following the completion of the transaction, the insider owned 132,305 shares in the company, valued at $6,624,511.35. The trade was a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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.
Veracyte Price Performance
Shares of Veracyte stock 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 fifty day moving average price of $37.48 and a two-hundred day moving average price of $39.01. The company has a market cap of $3.98 billion, a PE ratio of 45.82 and a beta of 1.98.
Veracyte (NASDAQ:VCYT – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.18. Veracyte had a net margin of 16.25% and a return on equity of 9.07%. The firm had revenue of $139.07 million during the quarter, compared to the consensus estimate of $130.36 million. During the same period in the prior year, the firm earned $0.31 EPS. The business’s revenue was up 21.5% on a year-over-year basis. Analysts expect that Veracyte, Inc. will post 1.28 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Veracyte
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on VCYT shares. UBS Group raised their price objective on shares of Veracyte from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Guggenheim reduced their price objective on shares of Veracyte from $50.00 to $45.00 and set a “buy” rating for the company in a report on Monday, March 30th. Jefferies Financial Group began coverage on shares of Veracyte in a research report on Monday, April 13th. They set a “buy” rating and a $45.00 target price for the company. Needham & Company LLC increased their target price on shares of Veracyte from $48.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Veracyte in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.57.
Get Our Latest Stock Report on VCYT
Key Veracyte News
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
Veracyte Company Profile
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.
Recommended Stories
- Five stocks we like better than Veracyte
- NVIDIA Sends a Message With RTX Spark—This Is What It Says
- Buy the Dip? Broadcom’s AI Moat Is Wider Than Ever
- The Great AI Server Rotation Puts Hewlett Packard Enterprise and Super Micro Computer in Focus
- Generac’s AI Power Pivot Raises a Bigger Question About Data Center Demand
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.
