Key Points
- Veracyte SVP Annie McGuire sold 10,204 shares on May 6 at an average price of $39.02, generating about $398,160. The sale reduced her direct stake by 6.63% and was made under a pre-arranged Rule 10b5-1 plan.
- Veracyte recently reported strong quarterly earnings, with EPS of $0.52 versus estimates of $0.34 and revenue of $139.07 million, topping analyst forecasts. Revenue also rose 21.5% year over year.
- Despite the insider sale, the stock has drawn mixed Wall Street views, with a consensus rating of Hold and a price target of $44.83. Shares opened at $40.42 and the company has a market cap of about $3.23 billion.
Veracyte, Inc. (NASDAQ:VCYT - Get Free Report) SVP Annie Mcguire sold 10,204 shares of the company's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $39.02, for a total value of $398,160.08. Following the transaction, the senior vice president directly owned 143,708 shares of the company's stock, valued at $5,607,486.16. This trade represents a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Annie Mcguire also recently made the following trade(s):
- On Wednesday, March 4th, Annie Mcguire sold 6,658 shares of Veracyte stock. The shares were sold at an average price of $35.55, for a total value of $236,691.90.
Veracyte Trading Down 0.8%
NASDAQ:VCYT opened at $40.42 on Friday. The firm has a market capitalization of $3.23 billion, a PE ratio of 37.08 and a beta of 1.89. The stock has a 50 day moving average of $33.54 and a 200-day moving average of $38.23. Veracyte, Inc. has a 52 week low of $22.61 and a 52 week high of $50.71.
Veracyte (NASDAQ:VCYT - Get Free Report) last posted its earnings results on Tuesday, May 5th. The biotechnology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.34 by $0.18. The company had revenue of $139.07 million during the quarter, compared to analyst estimates of $130.36 million. Veracyte had a return on equity of 9.07% and a net margin of 16.25%.The business's revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 earnings per share. As a group, analysts predict that Veracyte, Inc. will post 1.21 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on VCYT shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Veracyte in a report on Friday, March 27th. UBS Group increased their price objective on Veracyte from $48.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday. Jefferies Financial Group initiated coverage on Veracyte in a report on Monday, April 13th. They issued a "buy" rating and a $45.00 price objective for the company. Morgan Stanley decreased their price objective on Veracyte from $48.00 to $37.00 and set an "underweight" rating for the company in a report on Thursday, March 5th. Finally, Canaccord Genuity Group increased their price objective on Veracyte from $40.00 to $42.00 and gave the stock a "hold" rating in a report on Wednesday. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $44.83.
View Our Latest Stock Report on Veracyte
Institutional Investors Weigh In On Veracyte
Institutional investors have recently added to or reduced their stakes in the company. Torren Management LLC acquired a new stake in Veracyte in the fourth quarter worth approximately $37,000. First Horizon Corp acquired a new stake in Veracyte in the third quarter worth approximately $31,000. Empowered Funds LLC acquired a new stake in Veracyte in the fourth quarter worth approximately $42,000. Smartleaf Asset Management LLC lifted its position in Veracyte by 159.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,104 shares of the biotechnology company's stock worth $47,000 after purchasing an additional 679 shares during the period. Finally, Osaic Holdings Inc. lifted its position in Veracyte by 289.9% in the second quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company's stock worth $33,000 after purchasing an additional 893 shares during the period.
Veracyte Company Profile
(
Get Free Report)
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.
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