Veracyte (NASDAQ:VCYT) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

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

Veracyte Stock Performance

NASDAQ VCYT traded down $0.33 during mid-day trading on Tuesday, reaching $36.12. 1,294,915 shares of the stock were exchanged, compared to its average volume of 1,094,326. The stock has a market capitalization of $2.84 billion, a PE 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. The business’s fifty day simple moving average is $33.64 and its 200 day simple moving average is $29.79.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wall Street Zen raised Veracyte from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Weiss Ratings restated a “sell (d+)” rating on shares of Veracyte in a research report on Wednesday, October 8th. 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. Zacks Research raised shares of Veracyte from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Finally, Canaccord Genuity Group initiated coverage on Veracyte in a research report on Monday, October 20th. They set a “hold” rating and a $40.00 price objective for the company. 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 stock. According to data from MarketBeat.com, Veracyte presently has an average rating of “Moderate Buy” and an average price target of $40.90.

Insider Buying and Selling at Veracyte

In other Veracyte news, SVP Annie Mcguire sold 2,283 shares of the stock in a transaction on Friday, September 19th. The stock was sold at an average price of $33.69, for a total transaction of $76,914.27. Following the transaction, the senior vice president owned 91,599 shares of the company’s stock, valued at $3,085,970.31. This represents a 2.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 value 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 18,299 shares of company stock worth $610,799. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp boosted its position in shares of Veracyte by 0.4% in the second quarter. State Street Corp now owns 3,169,700 shares of the biotechnology company’s stock worth $85,677,000 after acquiring an additional 11,461 shares during the last quarter. Bank of America Corp DE raised its stake in Veracyte by 31.1% during the second quarter. Bank of America Corp DE now owns 1,519,710 shares of the biotechnology company’s stock worth $41,078,000 after purchasing an additional 360,947 shares during the period. Qube Research & Technologies Ltd raised its stake in Veracyte by 19.9% during the second quarter. Qube Research & Technologies Ltd now owns 983,786 shares of the biotechnology company’s stock worth $26,592,000 after purchasing an additional 163,049 shares during the period. Squarepoint Ops LLC boosted its holdings 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. Finally, Soleus Capital Management L.P. acquired a new position in shares of Veracyte in the 2nd quarter valued at $19,338,000.

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.