Veracyte, Inc. $VCYT Stock Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its position in Veracyte, Inc. (NASDAQ:VCYT) by 43.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 17,321 shares of the biotechnology company’s stock after selling 13,083 shares during the period. State of Alaska Department of Revenue’s holdings in Veracyte were worth $796,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new stake in Veracyte in the second quarter worth $44,000. Allworth Financial LP bought a new stake in shares of Veracyte in the second quarter valued at $50,000. Meeder Asset Management Inc. bought a new stake in shares of Veracyte in the first quarter valued at $62,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Veracyte during the 2nd quarter valued at $62,000. Finally, GAMMA Investing LLC lifted its position in shares of Veracyte by 21.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,121 shares of the biotechnology company’s stock valued at $66,000 after buying an additional 196 shares during the last quarter.

Insider Transactions at Veracyte

In other news, insider John Leite sold 4,015 shares of the business’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $40.00, for a total transaction of $160,600.00. Following the completion of the transaction, the insider directly owned 124,329 shares in the company, valued at $4,973,160. The trade was a 3.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jens Holstein sold 5,000 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $40.95, for a total value of $204,750.00. Following the completion of the sale, the director owned 27,471 shares in the company, valued at $1,124,937.45. This trade represents a 15.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 32,759 shares of company stock worth $1,388,904. 1.60% of the stock is owned by corporate insiders.

Veracyte Stock Performance

NASDAQ:VCYT opened at $46.04 on Friday. Veracyte, Inc. has a 52-week low of $29.45 and a 52-week high of $60.91. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 30.41 and a beta of 1.95. The business’s fifty day moving average is $43.45 and its 200 day moving average is $45.53.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Thursday, July 30th. The biotechnology company reported $0.54 earnings per share (EPS) 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 analysts’ expectations of $144.59 million. During the same quarter in the prior year, the firm posted $0.44 EPS. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. Equities analysts predict that Veracyte, Inc. will post 1.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. UBS Group lifted their price objective on Veracyte from $52.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, September 9th. Piper Sandler lowered their price objective on Veracyte from $66.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 4th. Stephens dropped their price objective on shares of Veracyte from $68.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, August 4th. Morgan Stanley cut their target price on shares of Veracyte from $47.00 to $44.00 and set an “underweight” rating for the company in a research report on Tuesday, August 4th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Veracyte in a research note on Tuesday, September 15th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.78.

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.