Veracyte (NASDAQ:VCYT – Get Free Report) announced its earnings results on Tuesday. The biotechnology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.10, Briefing.com reports. The firm had revenue of $114.43 million for the quarter, compared to the consensus estimate of $100.27 million. Veracyte had a negative net margin of 18.16% and a negative return on equity of 1.42%. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.12) EPS. Veracyte updated its FY 2024 guidance to EPS.
Veracyte Stock Performance
NASDAQ VCYT traded up $4.88 on Wednesday, hitting $26.70. 2,604,256 shares of the stock traded hands, compared to its average volume of 728,357. The business’s fifty day moving average is $22.19 and its two-hundred day moving average is $22.32. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -29.61 and a beta of 1.65. Veracyte has a 12 month low of $18.61 and a 12 month high of $30.86.
Insider Transactions at Veracyte
In other Veracyte news, Director Muna Bhanji sold 3,870 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $20.32, for a total value of $78,638.40. Following the completion of the transaction, the director now directly owns 23,105 shares in the company, valued at approximately $469,493.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Muna Bhanji sold 3,870 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $20.32, for a total value of $78,638.40. Following the completion of the transaction, the director now directly owns 23,105 shares of the company’s stock, valued at $469,493.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Karin Eastham sold 2,500 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $20.97, for a total value of $52,425.00. Following the completion of the sale, the director now owns 33,125 shares in the company, valued at $694,631.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,686 shares of company stock valued at $382,807. 1.30% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Check Out Our Latest Stock Analysis on Veracyte
Veracyte Company Profile
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.
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