Veracyte, Inc. (NASDAQ:VCYT – Get Free Report) CFO Rebecca Chambers sold 7,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $43.23, for a total value of $302,610.00. Following the completion of the sale, the chief financial officer now directly owns 114,037 shares of the company’s stock, valued at $4,929,819.51. The trade was a 5.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Veracyte Stock Down 2.8 %
NASDAQ:VCYT opened at $42.84 on Friday. The business’s 50-day moving average price is $36.50 and its 200 day moving average price is $29.56. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $44.50. The firm has a market cap of $3.32 billion, a P/E ratio of -285.60 and a beta of 1.69.
Veracyte (NASDAQ:VCYT – Get Free Report) last released its earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.03 by $0.16. The business had revenue of $115.86 million during the quarter, compared to analyst estimates of $109.81 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The business’s quarterly revenue was up 28.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.03) earnings per share. Sell-side analysts expect that Veracyte, Inc. will post 0.32 EPS for the current year.
Hedge Funds Weigh In On Veracyte
Analysts Set New Price Targets
VCYT has been the subject of several analyst reports. The Goldman Sachs Group restated a “neutral” rating and issued a $37.00 target price (down from $38.00) on shares of Veracyte in a research note on Thursday. Wolfe Research initiated coverage on Veracyte in a report on Friday, November 15th. They issued an “outperform” rating and a $50.00 price target for the company. Morgan Stanley increased their price objective on shares of Veracyte from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Monday, November 18th. UBS Group raised their target price on Veracyte from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Scotiabank boosted their price objective on Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.13.
Get Our Latest Stock Analysis on Veracyte
About Veracyte
Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.
Further Reading
- Five stocks we like better than Veracyte
- Investing In Automotive Stocks
- NVIDIA’s Blackwell Chips Set for Arizona Manufacturing by TSMC?
- What is MarketRank™? How to Use it
- Okta: Bullish Signals Suggest a Market Reversal Is Underway
- What Investors Must Know About Over-the-Counter (OTC) Stocks
- BlackRock Makes Waves With $12B Private Credit Acquisition
Receive News & Ratings for Veracyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veracyte and related companies with MarketBeat.com's FREE daily email newsletter.