Veracyte (NASDAQ:VCYT) SVP Sells $398,160.08 in Stock

Key Points

• Veracyte SVP Annie McGuire sold 10,204 shares on May 6 at an average price of $39.02, totaling about $398,160. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Veracyte reported better-than-expected quarterly results, posting EPS of $0.52 versus the $0.34 consensus and revenue of $139.07 million, up 21.5% year over year.
• The stock was recently trading lower, down 0.8% to $40.42, while analysts remain mixed with an average rating of Hold and a consensus price target of $44.83.

Veracyte, Inc. (NASDAQ:VCYT - Get Free Report) SVP Annie Mcguire sold 10,204 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $39.02, for a total value of $398,160.08. Following the sale, the senior vice president owned 143,708 shares of the company's stock, valued at approximately $5,607,486.16. This trade represents a 6.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Annie Mcguire also recently made the following trade(s):

• On Wednesday, March 4th, Annie Mcguire sold 6,658 shares of Veracyte stock. The shares were sold at an average price of $35.55, for a total value of $236,691.90.

Veracyte Stock Down 0.8%

Shares of Veracyte stock traded down $0.34 on Friday, hitting $40.42. 1,159,214 shares of the company's stock traded hands, compared to its average volume of 907,500. Veracyte, Inc. has a 52-week low of $22.61 and a 52-week high of $50.71. The stock has a market cap of $3.23 billion, a P/E ratio of 37.08 and a beta of 1.89. The firm's 50-day moving average is $33.54 and its 200 day moving average is $38.23.

Veracyte (NASDAQ:VCYT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.18. The business had revenue of $139.07 million during the quarter, compared to analyst estimates of $130.36 million. Veracyte had a net margin of 16.25% and a return on equity of 9.07%. The business's revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 earnings per share. Equities research analysts forecast that Veracyte, Inc. will post 1.21 EPS for the current year.

Institutional Investors Weigh In On Veracyte

A number of hedge funds and other institutional investors have recently modified their holdings of VCYT. Torren Management LLC acquired a new position in Veracyte during the 4th quarter valued at about $37,000. First Horizon Corp acquired a new stake in shares of Veracyte in the 3rd quarter worth approximately $31,000. Empowered Funds LLC bought a new position in shares of Veracyte in the fourth quarter valued at approximately $42,000. Smartleaf Asset Management LLC increased its stake in shares of Veracyte by 159.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,104 shares of the biotechnology company's stock valued at $47,000 after acquiring an additional 679 shares during the period. Finally, Osaic Holdings Inc. increased its stake in shares of Veracyte by 289.9% during the second quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company's stock valued at $33,000 after acquiring an additional 893 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Veracyte in a report on Friday, March 27th. Zacks Research downgraded shares of Veracyte from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 12th. Canaccord Genuity Group boosted their target price on shares of Veracyte from $40.00 to $42.00 and gave the company a "hold" rating in a research note on Wednesday. UBS Group raised their price target on shares of Veracyte from $48.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Needham & Company LLC reissued a "buy" rating and issued a $48.00 target price on shares of Veracyte in a report on Wednesday, April 1st. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $44.83.

About Veracyte

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.

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