Veracyte (NASDAQ:VCYT) Share Price Crosses Below 200-Day Moving Average – Time to Sell?

Veracyte, Inc. (NASDAQ:VCYT) shares crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $45.25 and traded as low as $43.45. Veracyte shares last traded at $43.80, with a volume of 725,427 shares traded.

Analysts Set New Price Targets

VCYT has been the subject of several recent research reports. Canaccord Genuity Group dropped their target price on shares of Veracyte from $60.00 to $50.00 and set a “hold” rating for the company in a research report on Monday, August 3rd. Needham & Company LLC restated a “buy” rating on shares of Veracyte in a research report on Tuesday, September 15th. Stephens reduced their price target on Veracyte from $68.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 4th. Zacks Research cut Veracyte from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. Finally, Morgan Stanley dropped their price objective on Veracyte from $47.00 to $44.00 and set an “underweight” rating for the company in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.78.

Veracyte Trading Up 3.2%

The firm’s fifty day moving average price is $43.35 and its 200-day moving average price is $45.34. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 32.78 and a beta of 1.95.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Thursday, July 30th. The biotechnology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. The business had revenue of $150.32 million for the quarter, compared to the consensus estimate of $144.59 million. Veracyte had a return on equity of 9.26% and a net margin of 20.37%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. As a group, research analysts anticipate that Veracyte, Inc. will post 1.32 EPS for the current year.

Insider Buying and Selling

In related news, Director Jens Holstein sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $40.95, for a total value of $204,750.00. Following the completion of the transaction, the director directly owned 27,471 shares in the company, valued at approximately $1,124,937.45. The trade was a 15.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Muna Bhanji sold 1,864 shares of the stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $43.70, for a total value of $81,456.80. Following the sale, the director directly owned 40,854 shares of the company’s stock, valued at approximately $1,785,319.80. The trade was a 4.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 32,759 shares of company stock valued at $1,388,904. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in Veracyte in the second quarter valued at $792,058,000. Dimensional Fund Advisors LP increased its position in shares of Veracyte by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,881,090 shares of the biotechnology company’s stock valued at $92,787,000 after acquiring an additional 80,614 shares during the last quarter. Congress Asset Management Co. bought a new stake in Veracyte during the third quarter worth about $89,971,000. William Blair Investment Management LLC bought a new stake in Veracyte during the second quarter worth about $84,078,000. Finally, First Trust Advisors LP boosted its position in Veracyte by 64.9% during the first quarter. First Trust Advisors LP now owns 2,117,046 shares of the biotechnology company’s stock valued at $68,190,000 after purchasing an additional 833,543 shares during the last quarter.

Veracyte Company Profile

Veracyte, Inc is a diagnostics company that develops genomic tests to help physicians diagnose cancer, assess disease risk and guide treatment decisions. Its tests are designed to provide additional molecular information from patient samples, often helping reduce uncertainty and support more personalized care.

The company’s portfolio includes Afirma tests for thyroid nodules, Decipher tests for prostate cancer, Percepta tests for lung cancer and Envisio tests for breast cancer. Veracyte also develops and commercializes additional genomic assays intended for use across various cancer types and clinical settings.

Founded in 2008 and headquartered in South San Francisco, California, Veracyte primarily serves the U.S.