Veracyte (NASDAQ:VCYT – Get Free Report) announced its quarterly earnings results on Wednesday. The biotechnology company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.17, Briefing.com reports. The company had revenue of $115.86 million for the quarter, compared to analyst estimates of $109.81 million. Veracyte had a negative net margin of 13.52% and a positive return on equity of 1.52%. The firm’s revenue was up 28.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.03) EPS. Veracyte updated its FY 2024 guidance to EPS.
Veracyte Stock Performance
Shares of NASDAQ:VCYT traded up $0.75 during trading on Thursday, reaching $37.34. The stock had a trading volume of 1,934,537 shares, compared to its average volume of 762,964. The firm’s fifty day moving average is $33.06 and its 200 day moving average is $26.79. Veracyte has a 52 week low of $18.61 and a 52 week high of $41.43. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -51.92 and a beta of 1.67.
Insider Activity
In related news, Director Evan/ Fa Jones sold 20,457 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $32.20, for a total transaction of $658,715.40. Following the transaction, the director now owns 34,343 shares in the company, valued at $1,105,844.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Veracyte news, insider John Leite sold 5,479 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total transaction of $163,164.62. Following the transaction, the insider now owns 76,174 shares in the company, valued at approximately $2,268,461.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Evan/ Fa Jones sold 20,457 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $32.20, for a total transaction of $658,715.40. Following the transaction, the director now owns 34,343 shares in the company, valued at approximately $1,105,844.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,141 shares of company stock valued at $1,035,116. 1.30% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
View Our Latest Stock Report on VCYT
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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