Insider Selling: Veracyte (NASDAQ:VCYT) Director Sells $352,500.00 in Stock

Veracyte, Inc. (NASDAQ:VCYT) Director Jens Holstein sold 7,500 shares of the company’s stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $47.00, for a total transaction of $352,500.00. Following the completion of the sale, the director directly owned 27,471 shares of the company’s stock, valued at $1,291,137. This trade represents a 21.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jens Holstein also recently made the following trade(s):

• On Tuesday, October 27th, Jens Holstein sold 7,500 shares of Veracyte stock. The shares were sold at an average price of $50.00, for a total transaction of $375,000.00.
• On Monday, September 14th, Jens Holstein sold 5,000 shares of Veracyte stock. The stock was sold at an average price of $40.95, for a total transaction of $204,750.00.

Veracyte Stock Down 4.1%

Shares of NASDAQ:VCYT opened at $50.01 on Friday. The stock has a market cap of $4.02 billion, a PE ratio of 34.32 and a beta of 1.95. The company’s fifty day moving average is $44.42 and its 200 day moving average is $42.92. Veracyte, Inc. has a 52 week low of $29.45 and a 52 week high of $60.91.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Thursday, July 30th. The biotechnology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Veracyte had a net margin of 20.37% and a return on equity of 9.26%. The business had revenue of $150.32 million during the quarter, compared to analyst estimates of $144.59 million. During the same period in the prior year, the business posted $0.44 earnings per share. The company’s revenue was up 15.5% on a year-over-year basis. Sell-side analysts anticipate that Veracyte, Inc. will post 1.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on VCYT. Zacks Research downgraded Veracyte from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. Needham & Company LLC restated a “buy” rating on shares of Veracyte in a research report on Tuesday, September 15th. Wall Street Zen cut Veracyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 10th. Stephens lowered their price objective on Veracyte from $68.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, August 4th. Finally, Piper Sandler dropped their price objective on Veracyte from $66.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, six have assigned 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, Veracyte currently has an average rating of “Moderate Buy” and an average price target of $55.78.

Institutional Investors Weigh In On Veracyte

A number of large investors have recently made changes to their positions in the business. Provenance Wealth Advisors LLC purchased a new position in shares of Veracyte during the third quarter valued at approximately $292,000. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Veracyte by 4.7% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 19,764 shares of the biotechnology company’s stock valued at $910,000 after acquiring an additional 890 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Veracyte by 2.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 784,483 shares of the biotechnology company’s stock valued at $36,118,000 after acquiring an additional 15,534 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Veracyte in the third quarter valued at $189,000. Finally, Profund Advisors LLC increased its position in Veracyte by 53.4% during the 3rd quarter. Profund Advisors LLC now owns 37,882 shares of the biotechnology company’s stock valued at $1,744,000 after purchasing an additional 13,188 shares during the period.

About Veracyte

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.