Veracyte (NASDAQ:VCYT) Director Jens Holstein Sells 7,500 Shares of Company Stock

Veracyte, Inc. (NASDAQ:VCYT) Director Jens Holstein sold 7,500 shares of the firm’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $47.00, for a total value of $352,500.00. Following the completion of the sale, the director directly owned 27,471 shares in the company, valued at $1,291,137. The trade was a 21.45% decrease in their ownership of the stock. The transaction was disclosed in a legal 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.

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 shares were sold at an average price of $40.95, for a total value of $204,750.00.

Veracyte Stock Performance

NASDAQ VCYT opened at $50.31 on Thursday. 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 $44.06 and a two-hundred day simple moving average of $42.83. The stock has a market cap of $4.04 billion, a P/E ratio of 35.68 and a beta of 1.95.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Thursday, July 30th. The biotechnology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $144.59 million. During the same period last year, the company earned $0.44 EPS. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. Sell-side analysts predict that Veracyte, Inc. will post 1.32 earnings per share for the current year.

Hedge Funds Weigh In On Veracyte

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC purchased a new position in shares of Veracyte during the second quarter valued at approximately $44,000. Allworth Financial LP bought a new stake in shares of Veracyte in the 2nd quarter worth approximately $50,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Veracyte in the 2nd quarter worth approximately $62,000. GAMMA Investing LLC grew its stake in shares of Veracyte by 21.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,121 shares of the biotechnology company’s stock worth $66,000 after buying an additional 196 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Veracyte by 197.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,719 shares of the biotechnology company’s stock worth $72,000 after buying an additional 1,141 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on VCYT shares. Needham & Company LLC reaffirmed a “buy” rating on shares of Veracyte in a research note on Tuesday, September 15th. UBS Group boosted their price objective on shares of Veracyte from $52.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, September 9th. Morgan Stanley decreased their price objective on shares of Veracyte from $47.00 to $44.00 and set an “underweight” rating for the company in a report on Tuesday, August 4th. Piper Sandler decreased their price objective on shares of Veracyte from $66.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, August 4th. Finally, Zacks Research cut shares of Veracyte from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Veracyte currently has an average rating of “Moderate Buy” and a consensus target price 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.