Veracyte (NASDAQ:VCYT) Director Karin Eastham Sells 14,850 Shares of Stock

Veracyte, Inc. (NASDAQ:VCYT) Director Karin Eastham sold 14,850 shares of the company’s stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $50.00, for a total value of $742,500.00. Following the transaction, the director directly owned 10,247 shares in the company, valued at $512,350. This represents a 59.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veracyte Stock Performance

NASDAQ:VCYT opened at $50.31 on Thursday. Veracyte, Inc. has a 1 year low of $29.45 and a 1 year high of $60.91. The stock has a fifty day moving average price of $44.06 and a two-hundred day moving average price of $42.83. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 35.68 and a beta of 1.95.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Thursday, July 30th. The biotechnology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. Veracyte had a net margin of 20.37% and a return on equity of 9.26%. The company had revenue of $150.32 million for the quarter, compared to analyst estimates of $144.59 million. During the same period in the previous year, the firm earned $0.44 EPS. The business’s revenue was up 15.5% on a year-over-year basis. On average, analysts predict that Veracyte, Inc. will post 1.32 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Veracyte in the 2nd quarter worth about $792,058,000. Dimensional Fund Advisors LP increased its stake in shares of Veracyte by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,881,090 shares of the biotechnology company’s stock valued at $92,787,000 after acquiring an additional 80,614 shares during the last quarter. Congress Asset Management Co. purchased a new position in shares of Veracyte during the 3rd quarter worth about $89,971,000. William Blair Investment Management LLC purchased a new position in shares of Veracyte during the 2nd quarter worth about $84,078,000. Finally, First Trust Advisors LP lifted its holdings in shares of Veracyte by 64.9% during the 1st quarter. First Trust Advisors LP now owns 2,117,046 shares of the biotechnology company’s stock worth $68,190,000 after acquiring an additional 833,543 shares during the period.

Analysts Set New Price Targets

A number of research firms recently commented on VCYT. Stephens decreased their price objective on shares of Veracyte from $68.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, August 4th. Wall Street Zen cut shares of Veracyte from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 10th. Weiss Ratings cut shares of Veracyte from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, September 24th. Needham & Company LLC reiterated a “buy” rating on shares of Veracyte in a research report on Tuesday, September 15th. Finally, Piper Sandler decreased their price target on Veracyte from $66.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.78.

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.