In yesterday’s Wall Street session, Veracyte Inc. (NASDAQ:VCYT) shares traded at $26.70, up 1.14% from the previous session.
9 analysts cover Veracyte Inc. (NASDAQ:VCYT), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $37.00 and a low of $23.00, we find $35.00. Given the previous closing price of $26.40, this indicates a potential upside of 32.58 percent. VCYT stock price is now 1.50% away from the 50-day moving average and 6.35% away from the 200-day moving average. The market capitalization of the company currently stands at $1.92B.
The stock has received a hold rating from 2 analysts and a buy rating from 6. Brokers who have rated the stock have averaged $33.50 as their price target over the next twelve months.
In other news, JONES EVAN/ FA, Director sold 3,090 shares of the company’s stock on Jul 19. The stock was sold for $93,232 at an average price of $30.17. Upon completion of the transaction, the Director now directly owns 35,173 shares in the company, valued at $0.94 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 19, Director JONES EVAN/ FA sold 838 shares of the business’s stock. A total of $25,257 was realized by selling the stock at an average price of $30.14. This leaves the insider owning 37,601 shares of the company worth $1.0 million. Insiders disposed of 400,847 shares of company stock worth roughly $10.7 million over the past 1 year. A total of 0.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in VCYT stock. A new stake in Veracyte Inc. shares was purchased by POINT72 ASSET MANAGEMENT, L.P. during the first quarter worth $29,852,000. FIRST TRUST ADVISORS LP invested $3,661,000 in shares of VCYT during the first quarter. In the first quarter, RENAISSANCE TECHNOLOGIES LLC acquired a new stake in Veracyte Inc. valued at approximately $2,331,000. MAN GROUP PLC acquired a new stake in VCYT for approximately $1,619,000. DOWLING & YAHNKE LLC purchased a new stake in VCYT valued at around $1,602,000 in the second quarter. In total, there are 333 active investors with 106.32% ownership of the company’s stock.
On Friday morning Veracyte Inc. (NASDAQ: VCYT) stock kicked off with the opening price of $26.76. During the past 12 months, Veracyte Inc. has had a low of $14.92 and a high of $32.40. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 4.50, and a quick ratio of 4.30. The fifty day moving average price for VCYT is $26.31 and a two-hundred day moving average price translates $25.10 for the stock.
The latest earnings results from Veracyte Inc. (NASDAQ: VCYT) was released for Jun, 2023. According to the Biotechnology Company, earnings per share came in at -$0.12, beating analysts’ expectations of -$0.15 by 0.03. This compares to -$0.13 EPS in the same period last year. The net profit margin was -8.80% and return on equity was -2.70% for VCYT. The company reported revenue of $90.32 million for the quarter, compared to $72.86 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 23.96 percent. For the current quarter, analysts expect VCYT to generate $84.38M in revenue.
Veracyte Inc.(VCYT) Company Profile
Veracyte, Inc. operates as a diagnostics company worldwide. The company offers Afirma Genomic Sequencing Classifier; 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; Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis; and Immunoscore Colon Cancer test for colon cancer diagnosis. It is also developing Percepta Genomic Atlas to help inform lung cancer treatment decisions; Envisia Classifier, the nCounter analysis system; and LymphMark for lymphoma subtyping test. Veracyte, Inc. has technology licensing and collaboration arrangements with Johnson & Johnson; Acerta Pharma; and CareDx. The company was formerly known as Calderome, Inc. and changed its name to Veracyte, Inc. in March 2008. Veracyte, Inc. was incorporated in 2006 and is headquartered in South San Francisco, California.
