Veracyte, Inc. (NASDAQ:VCYT - Get Free Report) Director Jens Holstein sold 7,500 shares of the firm's stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $47.00, for a total value of $352,500.00. Following the transaction, the director owned 27,471 shares of the company's stock, valued at $1,291,137. The trade was a 21.45% decrease in their ownership of the stock. The sale 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.
Jens Holstein also recently made the following trade(s):
- On Tuesday, October 27th, Jens Holstein sold 7,500 shares of Veracyte stock. The stock was sold at an average price of $50.00, for a total value of $375,000.00.
- On Monday, September 14th, Jens Holstein sold 5,000 shares of Veracyte stock. The stock was sold at an average price of $40.95, for a total transaction of $204,750.00.
Veracyte Price Performance
Shares of Veracyte stock opened at $50.31 on Thursday. Veracyte, Inc. has a 1 year low of $29.45 and a 1 year high of $60.91. The firm's 50-day moving average is $44.06 and its 200 day moving average is $42.83. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 35.68 and a beta of 1.95.
Veracyte (NASDAQ:VCYT - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The biotechnology company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates 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%. Veracyte's revenue was up 15.5% compared to the same quarter last year. During the same period last year, the business earned $0.44 EPS. On average, equities analysts expect that Veracyte, Inc. will post 1.32 EPS for the current fiscal year.
Analyst Ratings Changes
Several research analysts have recently issued reports on VCYT shares. Canaccord Genuity Group dropped their target price on shares of Veracyte from $60.00 to $50.00 and set a "hold" rating on the stock in a research note on Monday, August 3rd. Weiss Ratings downgraded shares of Veracyte from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, September 24th. Zacks Research lowered shares of Veracyte from a "strong-buy" rating to a "hold" rating in a report on Friday, October 2nd. Piper Sandler lowered their price objective on Veracyte from $66.00 to $54.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 4th. Finally, Wall Street Zen cut Veracyte from a "strong-buy" rating to a "buy" rating in a research report on Saturday, October 10th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $55.78.
Check Out Our Latest Research Report on VCYT
Hedge Funds Weigh In On Veracyte
Several hedge funds and other institutional investors have recently modified their holdings of VCYT. Integrated Wealth Concepts LLC bought a new stake in shares of Veracyte in the second quarter worth $44,000. Allworth Financial LP purchased a new stake in Veracyte during the second quarter valued at $50,000. Meeder Asset Management Inc. bought a new position in Veracyte in the first quarter valued at about $62,000. Northwestern Mutual Wealth Management Co. bought a new position in Veracyte in the second quarter valued at about $62,000. Finally, GAMMA Investing LLC lifted its holdings in Veracyte by 21.2% in the second quarter. GAMMA Investing LLC now owns 1,121 shares of the biotechnology company's stock valued at $66,000 after acquiring an additional 196 shares during the period.
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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