Veracyte (NASDAQ:VCYT) Sets New 1-Year Low Following Analyst Downgrade

Veracyte, Inc. (NASDAQ:VCYT)’s stock price reached a new 52-week low during mid-day trading on Thursday after Needham & Company LLC lowered their price target on the stock from $69.00 to $46.00. Needham & Company LLC currently has a buy rating on the stock. Veracyte traded as low as $23.12 and last traded at $23.6260, with a volume of 2,106,529 shares traded. The stock had previously closed at $52.52.

A number of other equities research analysts have also recently weighed in on the company. Weiss Ratings cut Veracyte from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. UBS Group lifted their target price on Veracyte from $52.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Piper Sandler dropped their price target on shares of Veracyte from $66.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 4th. Canaccord Genuity Group reduced their target price on Veracyte from $60.00 to $50.00 and set a “hold” rating for the company in a report on Monday, August 3rd. Finally, Morgan Stanley cut their price target on shares of Veracyte from $47.00 to $44.00 and set an “underweight” rating for the company in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.40.

Insiders Place Their Bets

In related news, insider John Leite sold 4,015 shares of the business’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $40.00, for a total value of $160,600.00. Following the sale, the insider directly owned 124,329 shares in the company, valued at $4,973,160. The trade was a 3.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Rebecca Chambers sold 3,652 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $43.10, for a total transaction of $157,401.20. Following the completion of the sale, the chief financial officer directly owned 166,025 shares in the company, valued at approximately $7,155,677.50. The trade was a 2.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Over the last quarter, insiders have sold 62,609 shares of company stock valued at $2,858,904. Company insiders own 1.60% of the company’s stock.

Key Stories Impacting Veracyte

Here are the key news stories impacting Veracyte this week:

• Positive Sentiment: Veracyte reported Q3 adjusted EPS of $0.51, above the roughly $0.41–$0.44 consensus, and revenue of $151.8 million, ahead of expectations. Revenue grew 15% year over year; the earnings-call coverage also highlighted strength in Afirma. The beat and growth may support investor confidence. Veracyte Announces Third Quarter 2026 Financial Results Q3 2026 Earnings Call Highlights
• Positive Sentiment: The company authorized a $100 million share repurchase program, which may signal management confidence and provide support for the stock. Veracyte authorizes a buyback plan
• Neutral Sentiment: A separate report put the average analyst price target at $55.78, but that figure may not reflect the latest target reduction. Veracyte stock average price target
• Negative Sentiment: Leerink Partners downgraded VCYT from “outperform” to “market perform” and cut its target from $55 to $35. The lower rating and target suggest concern about further upside and could temper the positive reaction to earnings. Leerink Partners rating

Institutional Trading of Veracyte

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Veracyte in the second quarter valued at approximately $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 worth $92,787,000 after purchasing an additional 80,614 shares in the last quarter. Congress Asset Management Co. acquired a new position in shares of Veracyte during the 3rd quarter worth approximately $89,971,000. William Blair Investment Management LLC acquired a new position in shares of Veracyte during the 2nd quarter worth approximately $84,078,000. Finally, First Trust Advisors LP raised its position 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 purchasing an additional 833,543 shares during the last quarter.

Veracyte Trading Down 55.0%

The business has a 50 day moving average of $44.90 and a 200-day moving average of $43.04. The stock has a market cap of $1.90 billion, a PE ratio of 16.74 and a beta of 1.98.

Veracyte (NASDAQ:VCYT) last announced its earnings results on Wednesday, November 4th. The biotechnology company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.10. The firm had revenue of $151.75 million for the quarter, compared to analysts’ expectations of $147.13 million. Veracyte had a return on equity of 9.26% and a net margin of 20.37%. Veracyte’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. On average, equities research analysts anticipate that Veracyte, Inc. will post 1.32 EPS for the current fiscal year.

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.