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

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

Veracyte Price Performance

VCYT traded up $0.01 during trading on Friday, hitting $41.70. 1,160,500 shares of the stock traded hands, compared to its average volume of 1,114,577. The firm 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 12-month low of $22.61 and a 12-month high of $47.32. The firm has a 50-day moving average of $34.36 and a 200 day moving average of $30.02.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.51 EPS 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 company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 earnings per share. Veracyte has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.

Analyst Ratings Changes

VCYT has been the topic of several research analyst reports. UBS Group boosted their target price on Veracyte from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday. Canaccord Genuity Group upped their target price on Veracyte from $40.00 to $43.00 and gave the stock a “hold” rating in a report on Wednesday. Guggenheim increased their target price on Veracyte from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley set a $28.00 price target on Veracyte and gave the stock an “underweight” rating in a research note on Friday, August 8th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Veracyte in a report on Wednesday, October 8th. One investment 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.90.

Institutional Trading of Veracyte

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Horizon Corp bought a new position in Veracyte during the 3rd quarter valued at approximately $31,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Veracyte in the second quarter worth $25,000. Osaic Holdings Inc. increased its holdings in shares of Veracyte by 289.9% during the second quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 893 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Veracyte during the first quarter valued at $48,000. Finally, Covestor Ltd raised its position in shares of Veracyte by 23,936.4% in the 1st quarter. Covestor Ltd now owns 2,644 shares of the biotechnology company’s stock worth $78,000 after purchasing an additional 2,633 shares during the last quarter.

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.