Veracyte (NASDAQ:VCYT) CEO Marc Stapley Sells 138,051 Shares

Veracyte, Inc. (NASDAQ:VCYT) CEO Marc Stapley sold 138,051 shares of Veracyte stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $50.12, for a total value of $6,919,116.12. Following the completion of the transaction, the chief executive officer owned 440,494 shares in the company, valued at $22,077,559.28. The trade was a 23.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 Performance

Veracyte stock opened at $49.94 on Friday. The business’s 50-day simple moving average is $37.48 and its 200-day simple moving average is $39.01. The firm has a market capitalization of $3.98 billion, a PE ratio of 45.82 and a beta of 1.98. Veracyte, Inc. has a 52 week low of $22.61 and a 52 week high of $50.71.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.18. Veracyte had a return on equity of 9.07% and a net margin of 16.25%.The firm had revenue of $139.07 million for the quarter, compared to analyst estimates of $130.36 million. During the same period in the previous year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. Research analysts forecast that Veracyte, Inc. will post 1.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on VCYT. UBS Group boosted their price target on Veracyte from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Veracyte in a research note on Friday, March 27th. Needham & Company LLC boosted their price target on Veracyte from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Monday. Guggenheim decreased their price target on Veracyte from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. Finally, Wolfe Research began coverage on Veracyte in a research note on Tuesday. They issued an “outperform” rating and a $55.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $47.57.

Institutional Investors Weigh In On Veracyte

Large investors have recently bought and sold shares of the business. Osaic Holdings Inc. grew its position in Veracyte by 289.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 893 shares during the last quarter. Torren Management LLC bought a new stake in Veracyte during the 4th quarter worth approximately $37,000. Empowered Funds LLC bought a new stake in Veracyte during the 4th quarter worth approximately $42,000. Smartleaf Asset Management LLC grew its position in Veracyte by 159.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,104 shares of the biotechnology company’s stock worth $47,000 after acquiring an additional 679 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Veracyte during the 3rd quarter worth approximately $56,000.

More Veracyte News

Here are the key news stories impacting Veracyte this week:

• Positive Sentiment: Veracyte has remained up sharply since its last earnings report, reflecting continued investor confidence in the company’s recent results and outlook. Why Is Veracyte (VCYT) Up 18.2% Since Last Earnings Report?
• Positive Sentiment: The company also highlighted ASCO findings from its OPTIMA and ENZAMET Phase III breast and prostate cancer trials, which could help reinforce Veracyte’s growth narrative in precision diagnostics. Veracyte, Inc. (VCYT) Discusses ASCO Findings From OPTIMA and ENZAMET Phase III Trials in Breast and Prostate Cancer – Slideshow
• Neutral Sentiment: Canaccord Genuity reiterated a Hold rating on Veracyte, suggesting analysts remain cautious despite the recent rally. Canaccord Genuity Reaffirms Their Hold Rating on Veracyte (VCYT)
• Neutral Sentiment: Veracyte presented at the William Blair Growth Stock Conference, a routine investor-relations event that may help maintain visibility but is unlikely to move the stock on its own. Veracyte, Inc. (VCYT) Presents at 46th Annual William Blair Growth Stock Conference – Slideshow
• Negative Sentiment: Several executives sold shares on June 4, including CEO Marc Stapley, CFO Rebecca Chambers, EVP Annie McGuire, and insider John Leite. The sales were made under pre-arranged 10b5-1 plans and tied to tax withholding from equity vesting, which limits the bearish signal, but the size of the CEO sale could still pressure sentiment. Marc Stapley insider trade

Veracyte Company Profile

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.