Insider Selling: Veracyte (NASDAQ:VCYT) Director Sells $80,096.08 in Stock

Veracyte, Inc. (NASDAQ:VCYT) Director Muna Bhanji sold 1,864 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $42.97, for a total transaction of $80,096.08. Following the completion of the sale, the director owned 42,718 shares of the company’s stock, valued at $1,835,592.46. This trade represents a 4.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veracyte Stock Down 4.8%

Shares of Veracyte stock opened at $42.53 on Friday. Veracyte, Inc. has a 52-week low of $29.45 and a 52-week high of $60.91. The company’s 50-day simple moving average is $50.64 and its 200-day simple moving average is $43.12. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 30.16 and a beta of 1.93.

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, topping 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 firm had revenue of $150.32 million during the quarter, compared to analysts’ expectations of $144.59 million. During the same period in the prior year, the company posted $0.44 earnings per share. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. Equities research analysts anticipate that Veracyte, Inc. will post 1.32 EPS for the current year.

Wall Street Analysts Forecast Growth

VCYT has been the subject of several research analyst reports. Weiss Ratings cut Veracyte from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 24th. Wolfe Research assumed coverage on shares of Veracyte in a research report on Tuesday, June 2nd. They set an “outperform” rating and a $55.00 target price on the stock. Piper Sandler lowered their price target on shares of Veracyte from $66.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 4th. Needham & Company LLC increased their price target on shares of Veracyte from $57.00 to $69.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Wall Street Zen upgraded shares of Veracyte from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 12th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Veracyte presently has an average rating of “Moderate Buy” and an average target price of $54.33.

Institutional Trading of Veracyte

A number of institutional investors have recently bought and sold shares of VCYT. Allworth Financial LP acquired a new stake in Veracyte in the second quarter valued at $50,000. Empowered Funds LLC acquired a new position in shares of Veracyte during the 4th quarter worth $42,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Veracyte in the 2nd quarter worth about $62,000. Smartleaf Asset Management LLC boosted its position in shares of Veracyte by 159.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,104 shares of the biotechnology company’s stock worth $47,000 after buying an additional 679 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Veracyte by 21.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,121 shares of the biotechnology company’s stock valued at $66,000 after acquiring an additional 196 shares during the last quarter.

Veracyte News Roundup

Here are the key news stories impacting Veracyte this week:

• Positive Sentiment: Institutional ownership trends remain supportive. Bank of America, Royal Bank of Canada and William Blair increased their positions, while Summit Creek Advisors and Deutsche Bank initiated new stakes. Analysts maintain a “Moderate Buy” consensus with an average price target of $54.33, above recent trading levels. Veracyte insider trading and institutional ownership report
• Neutral Sentiment: Veracyte’s most recent reported quarter showed earnings of $0.54 per share versus the $0.41 consensus estimate, while revenue rose 15.5% year over year to $150.32 million. These results provide a fundamental backdrop of continued growth, although they are not new developments in the latest disclosures.
• Negative Sentiment: EVP Annie McGuire sold 3,254 shares for approximately $140,215, CFO Rebecca Chambers sold 3,652 shares for about $157,401, and insider Phillip Febbo sold 13,110 shares valued at roughly $564,386. Each transaction was executed through a 10b5-1 plan to cover taxes, and the sellers retained substantial positions, limiting the signal that management is broadly abandoning the stock. Veracyte executive stock sale filing
• Negative Sentiment: Director Muna Bhanji separately sold 1,864 shares for approximately $80,096, reducing her position by 4.18%. The sale was also pre-arranged, but the cluster of insider transactions may reinforce short-term caution among investors. Muna Bhanji Veracyte stock sale

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.