Key Points
- Insider sale: Director Muna Bhanji sold 1,864 Veracyte shares for approximately $81,457 under a pre-arranged Rule 10b5-1 plan, reducing her stake by 4.36% to 40,854 shares.
- Stock and earnings: Veracyte shares opened at $44.79, while the company recently reported quarterly EPS of $0.54 and revenue of $150.32 million, beating analyst expectations and marking 15.5% year-over-year revenue growth.
- Analyst outlook: Wall Street’s consensus rating is “Moderate Buy,” with an average price target of $55.78, although analyst views range from “Strong Buy” to “Sell.”
Veracyte, Inc. (NASDAQ:VCYT - Get Free Report) Director Muna Bhanji sold 1,864 shares of the firm's stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $43.70, for a total value of $81,456.80. Following the completion of the sale, the director directly owned 40,854 shares in the company, valued at approximately $1,785,319.80. This trade represents a 4.36% decrease in their position. The sale 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.
Muna Bhanji also recently made the following trade(s):
- On Tuesday, September 1st, Muna Bhanji sold 1,864 shares of Veracyte stock. The stock was sold at an average price of $42.97, for a total value of $80,096.08.
Veracyte Price Performance
Shares of VCYT opened at $44.79 on Wednesday. Veracyte, Inc. has a 12 month low of $29.45 and a 12 month high of $60.91. The stock has a fifty day moving average price of $43.35 and a 200 day moving average price of $45.34. The company has a market cap of $3.60 billion, a P/E ratio of 31.77 and a beta of 1.95.
Veracyte (NASDAQ:VCYT - Get Free Report) last posted its earnings results on Thursday, July 30th. The biotechnology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.13. Veracyte had a return on equity of 9.26% and a net margin of 20.37%. The company had revenue of $150.32 million for the quarter, compared to analysts' expectations of $144.59 million. During the same period last year, the business posted $0.44 earnings per share. The firm's quarterly revenue was up 15.5% compared to the same quarter last year. As a group, research analysts anticipate that Veracyte, Inc. will post 1.32 earnings per share for the current year.
Hedge Funds Weigh In On Veracyte
Several large investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in shares of Veracyte by 21.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,121 shares of the biotechnology company's stock worth $66,000 after acquiring an additional 196 shares during the period. Abel Hall LLC boosted its holdings in shares of Veracyte by 3.6% in the third quarter. Abel Hall LLC now owns 6,511 shares of the biotechnology company's stock valued at $300,000 after acquiring an additional 229 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Veracyte by 178.0% in the second quarter. Allworth Financial LP now owns 845 shares of the biotechnology company's stock valued at $50,000 after acquiring an additional 541 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Veracyte during the second quarter valued at approximately $44,000. Finally, Assetmark Inc. increased its stake in shares of Veracyte by 34.4% during the first quarter. Assetmark Inc. now owns 2,968 shares of the biotechnology company's stock valued at $96,000 after acquiring an additional 760 shares during the period.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the stock. Weiss Ratings downgraded shares of Veracyte from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, September 24th. Wall Street Zen lowered shares of Veracyte from a "strong-buy" rating to a "buy" rating in a research note on Saturday, October 10th. Morgan Stanley decreased their target price on shares of Veracyte from $47.00 to $44.00 and set an "underweight" rating for the company in a research report on Tuesday, August 4th. UBS Group raised their price target on shares of Veracyte from $52.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, September 9th. Finally, Guggenheim lifted their price target on Veracyte from $45.00 to $65.00 and gave the company a "buy" rating in a report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $55.78.
Check Out Our Latest Report on Veracyte
About Veracyte
(
Get Free Report)
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.
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