Veracyte (NASDAQ:VCYT) Director Karin Eastham Sells 9,674 Shares

Veracyte, Inc. (NASDAQ:VCYT) Director Karin Eastham sold 9,674 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $40.02, for a total value of $387,153.48. Following the transaction, the director directly owned 13,554 shares of the company’s stock, valued at $542,431.08. The trade was a 41.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Veracyte Stock Up 0.0%

Shares of NASDAQ:VCYT opened at $41.70 on Friday. The company has a market capitalization of $3.28 billion, a P/E ratio of 126.37 and a beta of 2.16. Veracyte, Inc. 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 $34.59 and its 200-day simple moving average is $30.10.

Veracyte (NASDAQ:VCYT) last announced its 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. The firm had revenue of $131.87 million during the quarter, compared to the consensus estimate of $124.62 million. Veracyte had a net margin of 5.50% and a return on equity of 6.07%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 EPS. Veracyte has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in VCYT. Nuveen LLC bought a new position in Veracyte in the 1st quarter worth approximately $33,003,000. Artisan Partners Limited Partnership boosted its position in Veracyte by 20.7% during the 2nd quarter. Artisan Partners Limited Partnership now owns 6,321,775 shares of the biotechnology company’s stock worth $170,878,000 after acquiring an additional 1,082,064 shares during the period. Squarepoint Ops LLC lifted its holdings in Veracyte by 770.6% in the second quarter. Squarepoint Ops LLC now owns 897,387 shares of the biotechnology company’s stock worth $24,256,000 after purchasing an additional 794,307 shares during the period. Soleus Capital Management L.P. bought a new position in Veracyte in the 2nd quarter valued at about $19,338,000. Finally, Vanguard Group Inc. increased its stake in Veracyte by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,504,088 shares of the biotechnology company’s stock valued at $291,945,000 after buying an additional 403,737 shares during the period.

Analysts Set New Price Targets

Several brokerages recently issued reports on VCYT. Wall Street Zen raised shares of Veracyte from a “buy” rating to a “strong-buy” rating in a research note on Saturday. UBS Group increased their price target on Veracyte from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday. Guggenheim lifted their price objective on Veracyte from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday. Needham & Company LLC increased their target price on Veracyte from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Veracyte in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.