Insider Selling: Veracyte (NASDAQ:VCYT) Director Sells 14,850 Shares of Company Stock

Key Points

• Veracyte director Karin Eastham sold 14,850 shares at an average price of $50, generating $742,500. The Rule 10b5-1 transaction reduced her direct holdings by 59.17% to 10,247 shares.
• Veracyte shares were up 0.1% to $50.31, with a $4.04 billion market capitalization. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.54 in EPS and $150.32 million in revenue.
• Analyst sentiment remains a “Moderate Buy”, with a consensus price target of $55.78, while institutional investors—including BlackRock, Dimensional Fund Advisors and First Trust Advisors—hold significant positions.

Veracyte, Inc. (NASDAQ:VCYT - Get Free Report) Director Karin Eastham sold 14,850 shares of the stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $50.00, for a total value of $742,500.00. Following the transaction, the director directly owned 10,247 shares of the company's stock, valued at $512,350. The trade was a 59.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veracyte Stock Up 0.1%

Shares of NASDAQ VCYT traded up $0.03 during midday trading on Wednesday, hitting $50.31. The stock had a trading volume of 1,397,792 shares, compared to its average volume of 1,143,253. The company has a market capitalization of $4.04 billion, a PE ratio of 35.68 and a beta of 1.95. The stock has a 50 day simple moving average of $43.86 and a 200-day simple moving average of $42.80. Veracyte, Inc. has a 1 year low of $29.45 and a 1 year high of $60.91.

Veracyte (NASDAQ:VCYT - Get Free Report) last issued its earnings results on Thursday, July 30th. The biotechnology company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.13. The business had revenue of $150.32 million during the quarter, compared to analysts' expectations of $144.59 million. Veracyte had a net margin of 20.37% and a return on equity of 9.26%. The company's quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 earnings per share. As a group, analysts expect that Veracyte, Inc. will post 1.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on VCYT shares. Canaccord Genuity Group dropped their price target on Veracyte from $60.00 to $50.00 and set a "hold" rating for the company in a research report on Monday, August 3rd. Morgan Stanley reduced their price objective on Veracyte from $47.00 to $44.00 and set an "underweight" rating on the stock in a research report on Tuesday, August 4th. Weiss Ratings downgraded Veracyte from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, September 24th. UBS Group boosted their price objective on Veracyte from $52.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, September 9th. Finally, Wall Street Zen cut Veracyte from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 10th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.78.

Hedge Funds Weigh In On Veracyte

Several institutional investors and hedge funds have recently bought and sold shares of VCYT. BlackRock Inc. acquired a new stake in shares of Veracyte during the 2nd quarter worth approximately $792,058,000. Dimensional Fund Advisors LP lifted its holdings in 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. First Trust Advisors LP lifted its holdings in Veracyte by 64.9% in 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 acquiring an additional 833,543 shares during the last quarter. Congress Asset Management Co. purchased a new position in Veracyte in the third quarter worth approximately $89,971,000. Finally, Bank of America Corp DE grew its position in Veracyte by 14.7% in the first quarter. Bank of America Corp DE now owns 1,448,897 shares of the biotechnology company's stock worth $46,669,000 after acquiring an additional 185,929 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.

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