Veracyte (NASDAQ:VCYT) CFO Rebecca Chambers Sells 7,000 Shares of Stock

Veracyte, Inc. (NASDAQ:VCYT) CFO Rebecca Chambers sold 7,000 shares of Veracyte stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $41.00, for a total value of $287,000.00. Following the transaction, the chief financial officer owned 126,158 shares in the company, valued at $5,172,478. This trade represents a 5.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Veracyte Stock Performance

NASDAQ VCYT opened at $41.70 on Friday. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 126.37 and a beta of 2.16. The business has a 50 day simple moving average of $34.59 and a 200 day simple moving average of $30.10. Veracyte, Inc. has a 52-week low of $22.61 and a 52-week high of $47.32.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.19. Veracyte had a net margin of 5.50% and a return on equity of 6.07%. The company had revenue of $131.87 million during the quarter, compared to analysts’ expectations of $124.62 million. During the same quarter in the prior year, the company earned $0.33 earnings per share. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. Veracyte has set its FY 2025 guidance at EPS. On average, analysts predict that Veracyte, Inc. will post 0.68 EPS for the current year.

Institutional Trading of Veracyte

Several institutional investors and hedge funds have recently bought and sold shares of VCYT. Xponance Inc. grew its stake in Veracyte by 5.7% in the first quarter. Xponance Inc. now owns 6,860 shares of the biotechnology company’s stock valued at $203,000 after purchasing an additional 370 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Veracyte by 1.8% in the 3rd quarter. Arizona State Retirement System now owns 23,158 shares of the biotechnology company’s stock valued at $795,000 after buying an additional 419 shares during the last quarter. Blair William & Co. IL grew its stake in shares of Veracyte by 3.5% in the first quarter. Blair William & Co. IL now owns 16,092 shares of the biotechnology company’s stock valued at $477,000 after buying an additional 550 shares in the last quarter. California State Teachers Retirement System increased its holdings in Veracyte by 0.8% during the second quarter. California State Teachers Retirement System now owns 71,095 shares of the biotechnology company’s stock worth $1,922,000 after buying an additional 566 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its position in Veracyte by 4.6% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 17,991 shares of the biotechnology company’s stock worth $486,000 after acquiring an additional 790 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have issued reports on VCYT shares. Wall Street Zen upgraded Veracyte from a “buy” rating to a “strong-buy” rating in a report on Saturday. UBS Group upped their price objective on Veracyte from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday. Needham & Company LLC lifted their target price on Veracyte from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday. Weiss Ratings restated a “sell (d+)” rating on shares of Veracyte in a research note on Wednesday, October 8th. Finally, Zacks Research raised Veracyte from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.78.

About Veracyte

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.