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 that occurred on Tuesday, October 27th. The shares were sold at an average price of $50.00, for a total value of $375,000.00. Following the transaction, the director owned 27,471 shares of the company’s stock, valued at approximately $1,373,550. This trade represents a 21.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 shares were 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

Shares of VCYT traded up $0.03 during mid-day trading on Wednesday, reaching $50.31. The stock had a trading volume of 1,397,792 shares, compared to its average volume of 1,143,253. The business has a fifty day moving average of $43.86 and a 200 day moving average of $42.80. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 35.68 and a beta of 1.95. Veracyte, Inc. has a 12 month low of $29.45 and a 12 month high of $60.91.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Thursday, July 30th. The biotechnology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. The business 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 quarterly revenue was up 15.5% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. On average, research analysts forecast that Veracyte, Inc. will post 1.32 EPS for the current fiscal year.

Analyst Ratings Changes

VCYT has been the topic of several recent analyst reports. Wall Street Zen cut shares of Veracyte from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 10th. UBS Group upped 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. Needham & Company LLC reaffirmed a “buy” rating on shares of Veracyte in a research note on Tuesday, September 15th. Morgan Stanley reduced their price target on shares of Veracyte from $47.00 to $44.00 and set an “underweight” rating on the stock 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 note on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $55.78.

Institutional Investors Weigh In On Veracyte

Large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Veracyte in the 2nd quarter valued at about $792,058,000. Dimensional Fund Advisors LP raised its holdings in Veracyte by 2.9% during 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 buying an additional 80,614 shares during the period. Congress Asset Management Co. bought a new stake in Veracyte in the third quarter worth $89,971,000. William Blair Investment Management LLC bought a new stake in Veracyte in the second quarter worth $84,078,000. Finally, First Trust Advisors LP boosted its stake in Veracyte by 64.9% during the first quarter. First Trust Advisors LP now owns 2,117,046 shares of the biotechnology company’s stock worth $68,190,000 after buying an additional 833,543 shares during the period.

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.