Veracyte (NASDAQ:VCYT) Releases Earnings Results, Misses Estimates By $0.05 EPS

Veracyte (NASDAQ:VCYT) issued its quarterly earnings data on Monday. The biotechnology company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05), Zacks reports. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%.

Veracyte Price Performance

NASDAQ VCYT traded up $0.18 during midday trading on Monday, hitting $39.36. 1,098,485 shares of the company traded hands, compared to its average volume of 798,643. Veracyte has a 52 week low of $18.61 and a 52 week high of $47.32. The company’s 50-day simple moving average is $41.96 and its 200-day simple moving average is $37.53. The company has a market cap of $3.05 billion, a PE ratio of -262.40 and a beta of 1.71.

Insider Transactions at Veracyte

In other news, CAO Jonathan Wygant sold 5,032 shares of Veracyte stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $42.89, for a total value of $215,822.48. Following the transaction, the chief accounting officer now owns 42,313 shares of the company’s stock, valued at $1,814,804.57. The trade was a 10.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karin Eastham sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total transaction of $403,000.00. Following the transaction, the director now owns 18,497 shares of the company’s stock, valued at approximately $745,429.10. This trade represents a 35.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,565 shares of company stock valued at $1,031,406. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on VCYT shares. Needham & Company LLC raised their price objective on shares of Veracyte from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Wolfe Research started coverage on shares of Veracyte in a research note on Friday, November 15th. They issued an “outperform” rating and a $50.00 price target on the stock. Morgan Stanley boosted their price objective on shares of Veracyte from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Monday, November 18th. UBS Group lifted their price target on shares of Veracyte from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Scotiabank increased their price objective on Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.00.

Veracyte Company Profile

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.