Key Points
- Director Jens Holstein sold 10,000 Veracyte shares on Nov. 20 at an average of $42.36 for $423,600, trimming his position by 26.88 to 27,199 shares (≈$1.15M).
- Quarterly beat and stock reaction: Veracyte reported EPS $0.51 vs. $0.32 expected and revenue $131.87M (+13.8% YoY), and the stock rose 7.7% to $44.01 on above-average volume.
- Analyst sentiment is broadly positive with a MarketBeat consensus of "Moderate Buy" and a $43.38 price target after multiple firms raised their targets (ratings: 1 Strong Buy, 5 Buy, 3 Hold, 1 Sell).
Veracyte, Inc. (NASDAQ:VCYT - Get Free Report) Director Jens Holstein sold 10,000 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $42.36, for a total value of $423,600.00. Following the completion of the transaction, the director owned 27,199 shares of the company's stock, valued at approximately $1,152,149.64. This trade represents a 26.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Veracyte Trading Up 7.7%
Veracyte stock traded up $3.16 on Friday, hitting $44.01. 1,184,952 shares of the stock traded hands, compared to its average volume of 1,106,836. Veracyte, Inc. has a 1 year low of $22.61 and a 1 year high of $47.32. The firm has a market cap of $3.48 billion, a P/E ratio of 133.37 and a beta of 2.16. The business's fifty day simple moving average is $36.51 and its 200 day simple moving average is $30.78.
Veracyte (NASDAQ:VCYT - Get Free Report) last issued its quarterly 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. Veracyte had a net margin of 5.50% and a return on equity of 6.07%. The company had revenue of $131.87 million during the quarter, compared to analyst estimates of $124.62 million. During the same period last year, the business earned $0.33 EPS. Veracyte's quarterly revenue was up 13.8% compared to the same quarter last year. Veracyte has set its FY 2025 guidance at EPS. As a group, analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on VCYT shares. Zacks Research upgraded shares of Veracyte from a "hold" rating to a "strong-buy" rating in a report on Monday, October 6th. Needham & Company LLC raised their price objective on Veracyte from $41.00 to $44.00 and gave the company a "buy" rating in a research report on Wednesday, November 5th. Morgan Stanley lifted their price objective on Veracyte from $28.00 to $40.00 and gave the company an "underweight" rating in a research note on Tuesday, November 11th. Guggenheim increased their target price on Veracyte from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, November 5th. Finally, Canaccord Genuity Group lifted their price target on Veracyte from $40.00 to $43.00 and gave the stock a "hold" rating in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Veracyte presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.38.
Check Out Our Latest Research Report on Veracyte
Hedge Funds Weigh In On Veracyte
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its holdings in shares of Veracyte by 73.0% in the 1st quarter. Victory Capital Management Inc. now owns 97,786 shares of the biotechnology company's stock worth $2,899,000 after purchasing an additional 41,248 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Veracyte by 1.1% in the 1st quarter. Allianz Asset Management GmbH now owns 79,310 shares of the biotechnology company's stock worth $2,352,000 after buying an additional 900 shares in the last quarter. Y Intercept Hong Kong Ltd increased its holdings in Veracyte by 114.3% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 45,777 shares of the biotechnology company's stock worth $1,357,000 after buying an additional 24,416 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Veracyte by 12.5% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 198,592 shares of the biotechnology company's stock worth $5,888,000 after buying an additional 22,074 shares during the last quarter. Finally, Pinnacle Associates Ltd. bought a new position in Veracyte during the 1st quarter valued at about $1,604,000.
Veracyte Company Profile
(
Get Free Report)
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.
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