Insider Selling: Veracyte (NASDAQ:VCYT) Director Sells 43,196 Shares of Stock

Veracyte, Inc. (NASDAQ:VCYT) Director Evan/ Fa Jones sold 43,196 shares of Veracyte stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $45.06, for a total value of $1,946,411.76. Following the completion of the sale, the director owned 30,468 shares in the company, valued at approximately $1,372,888.08. This trade represents a 58.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Veracyte Stock Performance

NASDAQ:VCYT traded up $0.01 during trading hours on Friday, hitting $41.70. The company’s stock had a trading volume of 1,160,500 shares, compared to its average volume of 1,114,577. Veracyte, Inc. has a 52-week low of $22.61 and a 52-week high of $47.32. The business’s 50-day moving average is $34.36 and its two-hundred day moving average is $30.02. The company has a market capitalization of $3.28 billion, a PE ratio of 126.37 and a beta of 2.16.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its holdings in Veracyte by 54.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,538 shares of the biotechnology company’s stock valued at $400,000 after buying an additional 4,792 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Veracyte by 9.5% in the first quarter. Principal Financial Group Inc. now owns 35,663 shares of the biotechnology company’s stock valued at $1,057,000 after acquiring an additional 3,103 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Veracyte by 2.0% during the first quarter. Bank of New York Mellon Corp now owns 248,224 shares of the biotechnology company’s stock valued at $7,360,000 after acquiring an additional 4,772 shares during the last quarter. Xponance Inc. increased its position in Veracyte by 5.7% during the 1st quarter. Xponance Inc. now owns 6,860 shares of the biotechnology company’s stock worth $203,000 after purchasing an additional 370 shares in the last quarter. Finally, Rice Hall James & Associates LLC increased its position in Veracyte by 20.8% during the 1st quarter. Rice Hall James & Associates LLC now owns 115,458 shares of the biotechnology company’s stock worth $3,423,000 after purchasing an additional 19,843 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have weighed in on VCYT shares. Canaccord Genuity Group upped their target price on shares of Veracyte from $40.00 to $43.00 and gave the stock a “hold” rating in a research report on Wednesday. Zacks Research upgraded Veracyte from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. UBS Group lifted their price objective on Veracyte from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday. Needham & Company LLC boosted 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, Guggenheim raised their price target on Veracyte from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday. 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.90.

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.