Veracyte Inc. (NASDAQ:VCYT) saw an upside of 1.68% to close Friday at $24.79 after adding $0.41 on the day. The 5-day average trading volume is 419,700 shares of the company’s common stock. It has gained $25.58 in the past week and touched a new high 3 times within the past 5 days. An average of 550,725 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 634,226.
VCYT’s 1-month performance is -11.53% or -$4.99 on its low of $23.82 reached on 08/18/23. The company’s shares have touched a 52-week low of $14.92 and high of $32.40, with the stock’s rally to the 52-week high happening on 07/18/23. YTD, VCYT has achieved 4.47% or $1.06 and has reached a new high 11 times. However, the current price is down -23.49% from the 52-week high price.
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Insider Transactions
VCYT stock investors last saw insider trading activity on Jul 19.JONES EVAN/ FA (Director) most recently sold 3,090 shares at $30.17 per share on Jul 19. This transaction cost the insider $93,232. Director, JONES EVAN/ FA, sold 838 shares at a price of $30.14 on Jul 19. Then, on Jul 18, Director BISHOP JOHN L sold 10,000 shares at a price of $30.50 per share. This transaction amounted to $305,000.
Valuation Metrics
VCYT stock has a beta of 1.34. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 5.40 while the price-to-book (PB) in the most recent quarter is 1.66, with the price to cash flow ratio at 76.78.
Veracyte Inc.’s quick ratio for the period ended June 29 was 4.30, with the current ratio over the same period at 4.50. In terms of profitability, the gross margin trailing 12 months is 66.90%. The trailing 12-month EBITDA margin is -2.82% while for the period ending June 29, Veracyte Inc.’s operating margin was -10.20%. The firm’s gross profit as reported stood at $194.95 million against revenue of $296.54 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -13.45% to -$8.4 million, while revenue of -$8.09 million was 3.69% off the previous quarter. Analysts expected VCYT to announce -$0.15 per share in earnings in its latest quarter, but it posted -$0.12, representing a 20.00% surprise. EBITDA for the quarter stood at more than -$1.19 million. VCYT stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 78.4 million, with total debt at $14.86 million. Shareholders hold equity totaling $72.75 million.
Let’s look briefly at Veracyte Inc. (VCYT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 18 August was 40.58% to suggest the stock is trending Neutral, with historical volatility in this time period at 48.43%.
The stock’s 5-day moving average is $24.81, reflecting a -1.43% or -$0.36 change from its current price. VCYT is currently trading -13.26% above its 20-day SMA, +13.14% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -6.24% and SMA200 by+23.27%.
Stochastic %K and %D was 14.87% and 15.04% and the average true range (ATR) pointed at 1.12. The RSI (14) points at 42.56%, while the 14-day stochastic is at 25.76% with the period’s ATR at 1.14. The stock’s 9-day MACD Oscillator is pointing at -0.60 and -0.81 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Veracyte Inc. (NASDAQ: VCYT), Raymond James downgraded it to a Mkt perform rating. They previously had an Outperform rating on the stock. Analysts offering their rating for VCYT stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate VCYT as a “sell,”, while 2 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 6 have offered a “buy” rating.
What is VCYT’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $23.00 and a high of $37.00, with their median price target at $35.00. Looking at these predictions, the average price target given by analysts is for Veracyte Inc. (VCYT) stock is $33.50.
