Veracyte Inc Expected to Post Q3 2020 Earnings of ($0.01) Per Share (NASDAQ:VCYT)

Veracyte Inc (NASDAQ:VCYT) – Analysts at Svb Leerink issued their Q3 2020 earnings estimates for Veracyte in a research report issued to clients and investors on Wednesday, May 1st, Zacks Investment Research reports. Svb Leerink analyst P. Souda expects that the biotechnology company will post earnings per share of ($0.01) for the quarter. Svb Leerink also issued estimates for Veracyte’s Q4 2020 earnings at $0.01 EPS and FY2021 earnings at $0.15 EPS.

Veracyte (NASDAQ:VCYT) last released its earnings results on Monday, February 25th. The biotechnology company reported ($0.08) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.05. Veracyte had a negative net margin of 15.51% and a negative return on equity of 23.43%. The firm had revenue of $25.75 million during the quarter, compared to the consensus estimate of $24.33 million.

A number of other research analysts also recently weighed in on VCYT. Zacks Investment Research downgraded shares of Veracyte from a “buy” rating to a “hold” rating in a research report on Saturday, January 19th. BidaskClub raised shares of Veracyte from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 22nd. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $16.83.

Shares of Veracyte stock traded down $0.72 on Thursday, reaching $24.39. 421,375 shares of the company traded hands, compared to its average volume of 625,795. Veracyte has a 52 week low of $6.30 and a 52 week high of $26.80. The company has a market capitalization of $1.02 billion, a P/E ratio of -39.34 and a beta of 0.95. The company has a quick ratio of 6.06, a current ratio of 6.32 and a debt-to-equity ratio of 0.15.

In related news, Chairman Bonnie H. Anderson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $22.99, for a total transaction of $183,920.00. Following the sale, the chairman now directly owns 103,292 shares in the company, valued at approximately $2,374,683.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Bonnie H. Anderson sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $20.94, for a total transaction of $418,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,071,151 shares of company stock worth $22,808,870 over the last 90 days. 13.70% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Group One Trading L.P. purchased a new stake in Veracyte in the 4th quarter worth approximately $29,000. C M Bidwell & Associates Ltd. purchased a new stake in Veracyte in the 1st quarter worth approximately $101,000. Metropolitan Life Insurance Co. NY lifted its stake in Veracyte by 356.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,544 shares of the biotechnology company’s stock worth $133,000 after purchasing an additional 8,235 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Veracyte in the 4th quarter worth approximately $140,000. Finally, BNP Paribas Arbitrage SA lifted its stake in Veracyte by 65,322.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,888 shares of the biotechnology company’s stock worth $147,000 after purchasing an additional 5,879 shares in the last quarter. Institutional investors and hedge funds own 87.47% of the company’s stock.

Veracyte Company Profile

Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.

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Earnings History and Estimates for Veracyte (NASDAQ:VCYT)

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