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

Veracyte, Inc. (NASDAQ:VCYT) Director Jens Holstein sold 7,500 shares of the business’s stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $50.00, for a total transaction of $375,000.00. Following the sale, the director directly owned 27,471 shares in the company, valued at $1,373,550. The trade was a 21.45% decrease in their position. The transaction 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.

Jens Holstein also recently made the following trade(s):

• On Thursday, September 24th, Jens Holstein sold 7,500 shares of Veracyte stock. The stock was sold at an average price of $47.00, for a total transaction of $352,500.00.
• 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 transaction of $204,750.00.

Veracyte Stock Performance

VCYT stock opened at $52.17 on Friday. The firm has a 50 day moving average price of $44.26 and a 200-day moving average price of $42.88. Veracyte, Inc. has a 52-week low of $29.45 and a 52-week high of $60.91. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of 37.00 and a beta of 1.95.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Thursday, July 30th. The biotechnology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. The firm had revenue of $150.32 million for the quarter, compared to analysts’ expectations of $144.59 million. Veracyte had a return on equity of 9.26% and a net margin of 20.37%. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. As a group, sell-side analysts forecast that Veracyte, Inc. will post 1.32 earnings per share for the current fiscal year.

Trending Headlines about Veracyte

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 institutional investors have recently made changes to their positions in VCYT. BlackRock Inc. purchased a new position in Veracyte in the 2nd quarter worth approximately $792,058,000. Dimensional Fund Advisors LP lifted its position in Veracyte by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,881,090 shares of the biotechnology company’s stock valued at $92,787,000 after acquiring an additional 80,614 shares in the last quarter. First Trust Advisors LP lifted its position in Veracyte by 64.9% in the 1st quarter. First Trust Advisors LP now owns 2,117,046 shares of the biotechnology company’s stock valued at $68,190,000 after acquiring an additional 833,543 shares in the last quarter. Congress Asset Management Co. purchased a new stake in Veracyte during the 3rd quarter valued at $89,971,000. Finally, Bank of America Corp DE boosted its stake in Veracyte by 14.7% during the 1st quarter. Bank of America Corp DE now owns 1,448,897 shares of the biotechnology company’s stock valued at $46,669,000 after purchasing an additional 185,929 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Weiss Ratings cut Veracyte from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. Piper Sandler cut their target price on Veracyte from $66.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 4th. Morgan Stanley reduced their price target on Veracyte from $47.00 to $44.00 and set an “underweight” rating for the company in a report on Tuesday, August 4th. Canaccord Genuity Group reduced their price target on Veracyte from $60.00 to $50.00 and set a “hold” rating for the company in a report on Monday, August 3rd. Finally, Zacks Research lowered Veracyte from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.78.

Veracyte Company Profile

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.