Veracyte (NASDAQ:VCYT) Announces Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Veracyte (NASDAQ:VCYT) released its quarterly earnings data on Tuesday. The biotechnology company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.19, Briefing.com reports. Veracyte had a return on equity of 6.07% and a net margin of 5.50%.The firm had revenue of $131.87 million during the quarter, compared to the consensus estimate of $124.62 million. During the same period last year, the business posted $0.33 EPS. Veracyte’s quarterly revenue was up 13.8% on a year-over-year basis. Veracyte updated its FY 2025 guidance to EPS.

Veracyte Stock Down 0.9%

VCYT stock opened at $36.12 on Wednesday. Veracyte has a 52-week low of $22.61 and a 52-week high of $47.32. The stock’s fifty day simple moving average is $33.78 and its 200-day simple moving average is $29.83. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 109.46 and a beta of 2.11.

Wall Street Analyst Weigh In

VCYT has been the subject of a number of research reports. Wall Street Zen upgraded shares of Veracyte from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Morgan Stanley set a $28.00 price target on shares of Veracyte and gave the company an “underweight” rating in a report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Veracyte in a report on Wednesday, October 8th. Canaccord Genuity Group assumed coverage on shares of Veracyte in a report on Monday, October 20th. They issued a “hold” rating and a $40.00 price target on the stock. Finally, Zacks Research raised shares of Veracyte from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.90.

Insider Transactions at Veracyte

In other news, CEO Marc Stapley sold 7,667 shares of the firm’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $30.41, for a total transaction of $233,153.47. Following the sale, the chief executive officer owned 334,185 shares in the company, valued at $10,162,565.85. This trade represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Phillip G. Febbo sold 8,349 shares of the firm’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $36.02, for a total value of $300,730.98. Following the sale, the insider owned 92,441 shares in the company, valued at $3,329,724.82. This trade represents a 8.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,299 shares of company stock worth $610,799 over the last quarter. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Veracyte

Several institutional investors and hedge funds have recently bought and sold shares of VCYT. Osaic Holdings Inc. increased its position in Veracyte by 289.9% during 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 last quarter. Headlands Technologies LLC increased its position in Veracyte by 74.8% during the second quarter. Headlands Technologies LLC now owns 2,824 shares of the biotechnology company’s stock worth $76,000 after purchasing an additional 1,208 shares during the last quarter. FORA Capital LLC acquired a new stake in shares of Veracyte in the second quarter worth $206,000. Oxford Asset Management LLP acquired a new stake in shares of Veracyte in the second quarter worth $285,000. Finally, E Fund Management Co. Ltd. increased its position in shares of Veracyte by 17.1% in the second quarter. E Fund Management Co. Ltd. now owns 12,147 shares of the biotechnology company’s stock worth $328,000 after acquiring an additional 1,776 shares in the last quarter.

Veracyte Company Profile

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.