Key Points
- Veracyte insider Phillip Febbo sold 13,110 shares for approximately $564,386, reducing his ownership by 8.97%. The sale was conducted under a pre-arranged Rule 10b5-1 plan to cover tax obligations from vested equity awards.
- Veracyte reported quarterly EPS of $0.54, exceeding the $0.41 consensus estimate, while revenue increased 15.5% year over year to $150.32 million.
- Wall Street maintains a “Moderate Buy” consensus with an average price target of $54.33, while major institutional investors—including BlackRock and California State Teachers Retirement System—have built significant positions.
Veracyte, Inc. (NASDAQ:VCYT - Get Free Report) EVP Annie Mcguire sold 3,254 shares of the firm's stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $43.09, for a total transaction of $140,214.86. Following the transaction, the executive vice president owned 131,160 shares of the company's stock, valued at approximately $5,651,684.40. This trade represents a 2.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 VCYT opened at $42.53 on Friday. The firm's 50 day moving average is $50.64 and its 200-day moving average is $43.12. Veracyte, Inc. has a 12-month low of $29.45 and a 12-month high of $60.91. The stock has a market capitalization of $3.42 billion, a P/E ratio of 30.16 and a beta of 1.93.
Veracyte (NASDAQ:VCYT - Get Free Report) last released its earnings results on Thursday, July 30th. The biotechnology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. The business had revenue of $150.32 million during the quarter, compared to analyst estimates of $144.59 million. Veracyte had a net margin of 20.37% and a return on equity of 9.26%. The business's quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 earnings per share. As a group, equities research analysts forecast that Veracyte, Inc. will post 1.32 EPS for the current fiscal year.
Wall Street Analyst Weigh In
VCYT has been the subject of several research reports. Morgan Stanley reduced their price objective on Veracyte from $47.00 to $44.00 and set an "underweight" rating for the company in a research note on Tuesday, August 4th. Guggenheim boosted their target price on Veracyte from $45.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. Needham & Company LLC upped their target price on Veracyte from $57.00 to $69.00 and gave the company a "buy" rating in a report on Friday, July 31st. Wolfe Research started coverage on Veracyte in a research report on Tuesday, June 2nd. They issued an "outperform" rating and a $55.00 price target for the company. Finally, Weiss Ratings lowered Veracyte from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, August 24th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Veracyte has an average rating of "Moderate Buy" and a consensus target price of $54.33.
View Our Latest Stock Analysis on VCYT
Key Stories Impacting Veracyte
Here are the key news stories impacting Veracyte this week:
- Positive Sentiment: Institutional ownership trends remain supportive. Bank of America, Royal Bank of Canada and William Blair increased their positions, while Summit Creek Advisors and Deutsche Bank initiated new stakes. Analysts maintain a “Moderate Buy” consensus with an average price target of $54.33, above recent trading levels. Veracyte insider trading and institutional ownership report
- Neutral Sentiment: Veracyte’s most recent reported quarter showed earnings of $0.54 per share versus the $0.41 consensus estimate, while revenue rose 15.5% year over year to $150.32 million. These results provide a fundamental backdrop of continued growth, although they are not new developments in the latest disclosures.
- Negative Sentiment: EVP Annie McGuire sold 3,254 shares for approximately $140,215, CFO Rebecca Chambers sold 3,652 shares for about $157,401, and insider Phillip Febbo sold 13,110 shares valued at roughly $564,386. Each transaction was executed through a 10b5-1 plan to cover taxes, and the sellers retained substantial positions, limiting the signal that management is broadly abandoning the stock. Veracyte executive stock sale filing
- Negative Sentiment: Director Muna Bhanji separately sold 1,864 shares for approximately $80,096, reducing her position by 4.18%. The sale was also pre-arranged, but the cluster of insider transactions may reinforce short-term caution among investors. Muna Bhanji Veracyte stock sale
Hedge Funds Weigh In On Veracyte
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its position in Veracyte by 289.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company's stock worth $33,000 after purchasing an additional 893 shares in the last quarter. Empowered Funds LLC acquired a new stake in Veracyte during the 4th quarter valued at $42,000. Smartleaf Asset Management LLC lifted its holdings in shares of Veracyte by 159.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,104 shares of the biotechnology company's stock valued at $47,000 after purchasing an additional 679 shares in the last quarter. Allworth Financial LP purchased a new stake in shares of Veracyte in the second quarter valued at $50,000. Finally, Leonteq Securities AG acquired a new stake in shares of Veracyte in the fourth quarter worth $61,000.
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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