Veracyte (NASDAQ:VCYT) Insider Phillip Febbo Sells 13,110 Shares of Stock

Veracyte, Inc. (NASDAQ:VCYT) insider Phillip Febbo sold 13,110 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $43.05, for a total value of $564,385.50. Following the sale, the insider owned 133,048 shares of the company’s stock, valued at $5,727,716.40. This trade represents a 8.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Veracyte Stock Down 4.8%

Shares of NASDAQ VCYT opened at $42.53 on Friday. Veracyte, Inc. has a 12 month low of $29.45 and a 12 month high of $60.91. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 30.16 and a beta of 1.93. The business has a fifty day simple moving average of $50.64 and a 200-day simple moving average of $43.12.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings data on Thursday, July 30th. The biotechnology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.13. Veracyte had a return on equity of 9.26% and a net margin of 20.37%.The firm had revenue of $150.32 million for the quarter, compared to the consensus estimate of $144.59 million. During the same quarter in the previous year, the company earned $0.44 EPS. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, sell-side analysts expect that Veracyte, Inc. will post 1.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on VCYT. Needham & Company LLC increased their price target on shares of Veracyte from $57.00 to $69.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Stephens decreased their target price on shares of Veracyte from $68.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, August 4th. Canaccord Genuity Group lowered their price target on shares of Veracyte from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Monday, August 3rd. Guggenheim increased their price objective on Veracyte from $45.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Finally, Wall Street Zen raised Veracyte from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 12th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.33.

Key Headlines Impacting Veracyte

Here are the key news stories impacting Veracyte this week:

• Positive Sentiment: Institutional ownership trends remain supportive. Bank of America, Royal Bank of Canada and William Blair increased their positions, while Summit Creek Advisors and Deutsche Bank initiated new stakes. Analysts maintain a “Moderate Buy” consensus with an average price target of $54.33, above recent trading levels. Veracyte insider trading and institutional ownership report
• Neutral Sentiment: Veracyte’s most recent reported quarter showed earnings of $0.54 per share versus the $0.41 consensus estimate, while revenue rose 15.5% year over year to $150.32 million. These results provide a fundamental backdrop of continued growth, although they are not new developments in the latest disclosures.
• Negative Sentiment: EVP Annie McGuire sold 3,254 shares for approximately $140,215, CFO Rebecca Chambers sold 3,652 shares for about $157,401, and insider Phillip Febbo sold 13,110 shares valued at roughly $564,386. Each transaction was executed through a 10b5-1 plan to cover taxes, and the sellers retained substantial positions, limiting the signal that management is broadly abandoning the stock. Veracyte executive stock sale filing
• Negative Sentiment: Director Muna Bhanji separately sold 1,864 shares for approximately $80,096, reducing her position by 4.18%. The sale was also pre-arranged, but the cluster of insider transactions may reinforce short-term caution among investors. Muna Bhanji Veracyte stock sale

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of VCYT. Osaic Holdings Inc. lifted its stake in shares of Veracyte by 289.9% in the 2nd quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 893 shares during the last quarter. Empowered Funds LLC bought a new position in Veracyte in the 4th quarter worth approximately $42,000. Smartleaf Asset Management LLC raised its stake in Veracyte by 159.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,104 shares of the biotechnology company’s stock valued at $47,000 after purchasing an additional 679 shares during the last quarter. Allworth Financial LP acquired a new stake in Veracyte during the second quarter worth about $50,000. Finally, Leonteq Securities AG acquired a new stake in shares of Veracyte during the 4th quarter worth approximately $61,000.

About Veracyte

Veracyte, Inc is a genomic diagnostics company focused on improving diagnostic accuracy and patient care through advanced molecular testing. Founded in 2008 and headquartered in South San Francisco, California, the company develops and commercializes minimally invasive genomic tests that aid in the diagnosis of thyroid, lung and other diseases. Veracyte’s proprietary platform analyzes gene expression patterns in clinical samples to help physicians make more informed treatment decisions, reducing unnecessary surgeries and improving patient outcomes.

The company’s flagship product, the Afirma Genomic Sequencing Classifier, is designed to assess thyroid nodules with indeterminate cytology, helping clinicians distinguish benign from suspicious nodules.