Veracyte (NASDAQ:VCYT) Stock: Insider Jens Holstein Sells 7,500 Shares

Key Points

• Director Jens Holstein sold 7,500 Veracyte shares at an average price of $47, generating $352,500; the transaction reduced his ownership by 21.45% and was conducted under a Rule 10b5-1 plan.
• Veracyte shares recently traded at $50.31, near the upper half of their 52-week range. The company beat quarterly earnings expectations, reporting $0.54 EPS versus a $0.41 consensus and revenue of $150.32 million, up 15.5% year over year.
• Analyst sentiment remains a Moderate Buy, with a consensus price target of $55.78, although several firms recently lowered ratings or price targets. Institutional investors showed mixed activity, with some increasing their stakes and others initiating new positions.

Veracyte, Inc. (NASDAQ:VCYT - Get Free Report) Director Jens Holstein sold 7,500 shares of the company's stock in a transaction dated 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 transaction, the director owned 27,471 shares in the company, valued at approximately $1,291,137. This trade represents a 21.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 value 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 value of $204,750.00.

Veracyte Stock Up 0.1%

Shares of VCYT stock traded up $0.03 during mid-day trading on Wednesday, hitting $50.31. 1,397,792 shares of the company's stock were exchanged, compared to its average volume of 1,143,253. Veracyte, Inc. has a fifty-two week low of $29.45 and a fifty-two week high of $60.91. The stock has a 50-day simple moving average of $43.86 and a two-hundred day simple moving average of $42.80. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 35.68 and a beta of 1.95.

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

Hedge Funds Weigh In On Veracyte

A number of institutional investors have recently added to or reduced their stakes in VCYT. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in shares of Veracyte by 70.2% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 20,850 shares of the biotechnology company's stock worth $960,000 after purchasing an additional 8,600 shares during the last quarter. Choreo LLC acquired a new position in Veracyte during the 3rd quarter valued at approximately $268,000. China Universal Asset Management Co. Ltd. grew its stake in Veracyte by 15.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,668 shares of the biotechnology company's stock worth $676,000 after buying an additional 1,969 shares during the last quarter. Park Avenue Securities LLC bought a new position in Veracyte during the 3rd quarter worth $309,000. Finally, Sowell Financial Services LLC grew its stake in Veracyte by 38.9% during the 3rd quarter. Sowell Financial Services LLC now owns 4,952 shares of the biotechnology company's stock worth $228,000 after buying an additional 1,386 shares during the last quarter.

Wall Street Analyst Weigh In

A number of 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. Canaccord Genuity Group reduced their target price on Veracyte from $60.00 to $50.00 and set a "hold" rating on the stock in a report on Monday, August 3rd. Needham & Company LLC reissued a "buy" rating on shares of Veracyte in a research report on Tuesday, September 15th. Wall Street Zen lowered Veracyte from a "strong-buy" rating to a "buy" rating in a research note on Saturday, October 10th. Finally, Morgan Stanley dropped their price target on Veracyte from $47.00 to $44.00 and set an "underweight" rating for the company in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $55.78.

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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