Veracyte (NASDAQ:VCYT) Stock: Insider Karin Eastham Sells 14,850 Shares

Veracyte, Inc. (NASDAQ:VCYT) Director Karin Eastham sold 14,850 shares of Veracyte 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 sale, the director directly owned 10,247 shares in the company, valued at $512,350. The trade was a 59.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veracyte Trading Up 3.7%

VCYT stock opened at $52.17 on Friday. Veracyte, Inc. has a 1-year low of $29.45 and a 1-year high of $60.91. The business’s 50 day moving average is $44.26 and its 200-day moving average is $42.88. The firm has a market cap of $4.19 billion, a P/E ratio of 37.00 and a beta of 1.95.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Thursday, July 30th. The biotechnology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. The business had revenue of $150.32 million during the quarter, compared to the consensus estimate of $144.59 million. Veracyte had a return on equity of 9.26% and a net margin of 20.37%. Veracyte’s revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the company earned $0.44 EPS. Sell-side analysts forecast that Veracyte, Inc. will post 1.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VCYT. Canaccord Genuity Group cut their price objective on Veracyte from $60.00 to $50.00 and set a “hold” rating for the company in a report on Monday, August 3rd. Weiss Ratings lowered shares of Veracyte from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, September 24th. UBS Group increased their target price on shares of Veracyte from $52.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, September 9th. Wall Street Zen cut shares of Veracyte from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 10th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Veracyte in a report on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.78.

Veracyte News Roundup

Here are the key news stories impacting Veracyte this week:

• Positive Sentiment: Earnings expectations remain favorable: Zacks said Veracyte has the right combination of factors for a potential earnings beat in its upcoming report. The company’s latest quarterly results exceeded consensus estimates, with $0.54 in adjusted EPS on $150.32 million of revenue, while revenue rose 15.5% year over year. Veracyte expected to beat earnings estimates
• Positive Sentiment: Clinical data could become a catalyst: A recent analysis highlighted how upcoming or emerging clinical-trial data could materially change the investment case for Veracyte, potentially affecting views on the commercial prospects of its genomic cancer tests. Clinical trial data might change the case for investing in Veracyte
• Neutral Sentiment: Investor outreach planned: Veracyte will participate in a fireside chat at the UBS Global Healthcare Conference on November 10. The event could provide updates on business trends and product adoption, but no new financial information was announced. Veracyte to participate in upcoming investor conferences
• Negative Sentiment: Multiple directors sold shares: Directors Karin Eastham and Jens Holstein sold shares worth approximately $742,500 and $375,000, respectively, at about $50 per share. Holstein also reported an earlier sale at $47. Both transactions were executed under pre-arranged Rule 10b5-1 plans, reducing their significance as a discretionary bearish signal, but the reduction in insider ownership may weigh on sentiment.
• Negative Sentiment: Analyst caution remains: Several analysts previously lowered price targets or ratings, although the overall consensus remains “Moderate Buy” with an average target of $55.78.

Institutional Investors Weigh In On Veracyte

A number of large investors have recently bought and sold shares of VCYT. GAMMA Investing LLC increased its stake in shares of Veracyte by 21.2% in the second quarter. GAMMA Investing LLC now owns 1,121 shares of the biotechnology company’s stock valued at $66,000 after buying an additional 196 shares in the last quarter. Abel Hall LLC raised its holdings in shares of Veracyte by 3.6% in the third quarter. Abel Hall LLC now owns 6,511 shares of the biotechnology company’s stock valued at $300,000 after buying an additional 229 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Veracyte by 178.0% in the second quarter. Allworth Financial LP now owns 845 shares of the biotechnology company’s stock valued at $50,000 after buying an additional 541 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Veracyte during the 2nd quarter worth about $44,000. Finally, Assetmark Inc. lifted its position in Veracyte by 34.4% during the 1st quarter. Assetmark Inc. now owns 2,968 shares of the biotechnology company’s stock worth $96,000 after buying an additional 760 shares in the last quarter.

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.