Muna Bhanji Sells 1,864 Shares of Veracyte (NASDAQ:VCYT) Stock

Veracyte, Inc. (NASDAQ:VCYT) Director Muna Bhanji sold 1,864 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $42.97, for a total value of $80,096.08. Following the completion of the transaction, the director directly owned 42,718 shares of the company’s stock, valued at approximately $1,835,592.46. The trade was a 4.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veracyte Price Performance

VCYT stock opened at $42.53 on Friday. The company’s 50-day moving average is $50.64 and its 200-day moving average is $43.12. The stock has a market capitalization of $3.42 billion, a PE ratio of 30.16 and a beta of 1.93. Veracyte, Inc. has a 1 year low of $29.45 and a 1 year high of $60.91.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results 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 business had revenue of $150.32 million for the quarter, compared to the consensus estimate of $144.59 million. During the same period in the prior year, the business earned $0.44 EPS. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, analysts anticipate that Veracyte, Inc. will post 1.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on VCYT shares. Weiss Ratings cut shares of Veracyte from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 24th. Stephens decreased their price target on Veracyte from $68.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, August 4th. Needham & Company LLC lifted their price target on Veracyte from $57.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Zacks Research raised Veracyte from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Finally, Wolfe Research began coverage on Veracyte in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $55.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.33.

Hedge Funds Weigh In On Veracyte

Several large investors have recently modified their holdings of the business. Osaic Holdings Inc. lifted its stake in shares of Veracyte by 289.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 893 shares in the last quarter. Empowered Funds LLC purchased a new position in Veracyte in the 4th quarter valued at approximately $42,000. Smartleaf Asset Management LLC raised its holdings in Veracyte by 159.8% during the 4th 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. Allworth Financial LP bought a new stake in Veracyte during the 2nd quarter valued at $50,000. Finally, Leonteq Securities AG purchased a new stake in shares of Veracyte during the fourth quarter worth $61,000.

Trending Headlines about Veracyte

Here are the key news stories impacting Veracyte this week:

• Positive Sentiment: Institutional ownership trends remain supportive. Bank of America, Royal Bank of Canada and William Blair increased their positions, while Summit Creek Advisors and Deutsche Bank initiated new stakes. Analysts maintain a “Moderate Buy” consensus with an average price target of $54.33, above recent trading levels. Veracyte insider trading and institutional ownership report
• Neutral Sentiment: Veracyte’s most recent reported quarter showed earnings of $0.54 per share versus the $0.41 consensus estimate, while revenue rose 15.5% year over year to $150.32 million. These results provide a fundamental backdrop of continued growth, although they are not new developments in the latest disclosures.
• Negative Sentiment: EVP Annie McGuire sold 3,254 shares for approximately $140,215, CFO Rebecca Chambers sold 3,652 shares for about $157,401, and insider Phillip Febbo sold 13,110 shares valued at roughly $564,386. Each transaction was executed through a 10b5-1 plan to cover taxes, and the sellers retained substantial positions, limiting the signal that management is broadly abandoning the stock. Veracyte executive stock sale filing
• Negative Sentiment: Director Muna Bhanji separately sold 1,864 shares for approximately $80,096, reducing her position by 4.18%. The sale was also pre-arranged, but the cluster of insider transactions may reinforce short-term caution among investors. Muna Bhanji Veracyte stock sale

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.