Veracyte (NASDAQ:VCYT) Director Jens Holstein Sells 7,500 Shares of Company Stock

Veracyte, Inc. (NASDAQ:VCYT) Director Jens Holstein sold 7,500 shares of the business’s stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $50.00, for a total value of $375,000.00. Following the completion of the sale, the director directly owned 27,471 shares of the company’s stock, valued at approximately $1,373,550. This represents a 21.45% decrease in their ownership of the stock. The sale was disclosed in a legal 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 shares were sold at an average price of $47.00, for a total value 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 value of $204,750.00.

Veracyte Stock Up 0.1%

NASDAQ:VCYT opened at $50.31 on Thursday. The business’s 50 day moving average is $44.06 and its two-hundred day moving average is $42.83. Veracyte, Inc. has a 52 week low of $29.45 and a 52 week high of $60.91. The company has a market cap of $4.04 billion, a PE ratio of 35.68 and a beta of 1.95.

Veracyte (NASDAQ:VCYT) last issued 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. Veracyte had a return on equity of 9.26% and a net margin of 20.37%. The company had revenue of $150.32 million during the quarter, compared to analyst estimates of $144.59 million. During the same quarter last year, the firm earned $0.44 EPS. The business’s revenue was up 15.5% on a year-over-year basis. As a group, sell-side analysts expect that Veracyte, Inc. will post 1.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Veracyte

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its holdings in shares of Veracyte by 14.7% in the 1st quarter. Bank of America Corp DE now owns 1,448,897 shares of the biotechnology company’s stock worth $46,669,000 after purchasing an additional 185,929 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Veracyte during the 2nd quarter worth $1,583,000. Royal Bank of Canada grew its stake in Veracyte by 66.4% during the 1st quarter. Royal Bank of Canada now owns 573,096 shares of the biotechnology company’s stock worth $18,459,000 after buying an additional 228,720 shares during the last quarter. Summit Creek Advisors LLC bought a new position in Veracyte during the 2nd quarter worth $6,986,000. Finally, Great Lakes Advisors LLC bought a new position in Veracyte during the 2nd quarter worth $3,851,000.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Zacks Research cut Veracyte from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. Stephens lowered their target price on shares of Veracyte from $68.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, August 4th. Weiss Ratings lowered shares of Veracyte from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. Piper Sandler dropped their target price on shares of Veracyte from $66.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, August 4th. Finally, Needham & Company LLC restated a “buy” rating on shares of Veracyte in a research report on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Veracyte has a consensus rating of “Moderate Buy” and a consensus target price of $55.78.

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.