Veracyte (NASDAQ:VCYT) Issues Quarterly Earnings Results

Veracyte (NASDAQ:VCYT) posted its quarterly earnings results on Tuesday. The biotechnology company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.06, Zacks reports. Veracyte had a net margin of 5.50% and a return on equity of 6.07%. Veracyte updated its FY 2025 guidance to EPS.

Veracyte Stock Down 0.9%

Shares of NASDAQ:VCYT traded down $0.33 during trading on Tuesday, reaching $36.12. 1,294,915 shares of the company traded hands, compared to its average volume of 1,094,326. The firm has a fifty day simple moving average of $33.64 and a 200 day simple moving average of $29.79. The firm has a market cap of $2.84 billion, a P/E ratio of 109.46 and a beta of 2.11. Veracyte has a 1-year low of $22.61 and a 1-year high of $47.32.

Insider Buying and Selling at Veracyte

In other Veracyte news, CEO Marc Stapley sold 7,667 shares of Veracyte stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $30.41, for a total transaction of $233,153.47. Following the completion of the sale, the chief executive officer owned 334,185 shares of the company’s stock, valued at $10,162,565.85. This trade represents a 2.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Phillip G. Febbo sold 8,349 shares of Veracyte stock in a transaction on Monday, October 6th. The shares were sold at an average price of $36.02, for a total transaction of $300,730.98. Following the sale, the insider directly owned 92,441 shares of the company’s stock, 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 sold 18,299 shares of company stock valued at $610,799 in the last quarter. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Veracyte

Several institutional investors and hedge funds have recently modified their holdings of VCYT. Squarepoint Ops LLC lifted its stake in shares of Veracyte by 770.6% in the 2nd quarter. Squarepoint Ops LLC now owns 897,387 shares of the biotechnology company’s stock valued at $24,256,000 after purchasing an additional 794,307 shares during the last quarter. Soleus Capital Management L.P. acquired a new stake in shares of Veracyte in the 2nd quarter valued at $19,338,000. Bank of America Corp DE lifted its stake in shares of Veracyte by 31.1% in the 2nd quarter. Bank of America Corp DE now owns 1,519,710 shares of the biotechnology company’s stock valued at $41,078,000 after purchasing an additional 360,947 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Veracyte in the 2nd quarter valued at $4,602,000. Finally, Qube Research & Technologies Ltd lifted its stake in shares of Veracyte by 19.9% in the 2nd quarter. Qube Research & Technologies Ltd now owns 983,786 shares of the biotechnology company’s stock valued at $26,592,000 after purchasing an additional 163,049 shares during the last quarter.

Wall Street Analyst Weigh In

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

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.