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Wednesday, December 6, 2023

Veracyte Inc (VCYT): A Case For Going Higher

After Hours

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. After-hours trades for Veracyte Inc (VCYT) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.30, or 1.27%, to $24.00. The Veracyte Inc has recorded 32,350 volume in the after hours trading session. Recently, Yahoo Finance discussed the stock, revealing that Veracyte to Participate in the Stephens Annual Investment Conference.

Stocks Info

This NASDAQ-listed company operates within the Biotechnology industry segment, falling under the Healthcare sector. At the end of the last regular session, the stock closed at $23.70 and fluctuated between $24.47 as its day high and $23.56 as its day low. The current market capitalization of Veracyte Inc is $1.72B. A total of 0.76 million shares were traded on the day, compared to an average of 533.29K shares.

Insider Activity

Insider trades can also provide insight into a stock’s future direction. During the recent three months, VCYT has seen 1 BUY and 5 SELL insider trades, representing the acquisition of 53,182 and the disposition of 12,054 shares. Over the last 12 months, there were 23 BUYs and 46 SELLs from insiders. Insiders purchased 551,238 shares during that period but sold 411,878.

In the most recent transaction, JONES EVAN/ FA sold 3,090 shares of VCYT for 30.17 per share on Jul 19. After the transaction, the Director now owns 35,173 company shares. In a previous transaction on Jul 19, JONES EVAN/ FA sold 838 shares at 30.14 per share. VCYT shares that Director owns now total 37,601.

Among the insiders who sold shares, BISHOP JOHN L disposed of 10,000 shares on Jul 18 at a per-share price of $30.50. This resulted in the Director holding 33,125 shares of VCYT after the transaction. In another insider transaction, JONES EVAN/ FA sold 7,441 shares at $30.19 per share on Jul 18. Company shares held by the Director now total 38,263.

Even though price targets are rarely accurate, they do tend to exert some kind of influence from time to time and are often considered important by markets. According to analysts who have offered 12-month price targets for VCYT in the last 3 months, the mean price target is $32.67 with high estimates of $37.00 and low estimates of $23.00. In terms of 52-week highs and lows, VCYT has a high of $32.40 and a low of $19.52.

As of this writing, VCYT has an earnings estimate of -$0.15 per share for the current quarter. EPS was calculated based on a consensus of 8 estimates, with a high estimate of -$0.12 per share and a lower estimate of -$0.17. The company reported an EPS of -$0.11 in the last quarter, which was 15.40% higher than expectations of -$0.13.

Balance Sheet Annually/Quarterly

In a balance sheet, you can see what assets and liabilities the company has, as well as how much equity investors have invested. These figures can be used to calculate a company’s financial ratios to give investors a better idea of its prospects. VCYT’s latest balance sheet shows that the firm has $173.20M in Cash & Short Term Investments as of fiscal 2021. There were $18.85M in debt and $64.15M in liabilities at the time. Its Book Value Per Share was $14.90, while its Total Shareholder’s Equity was $1.10B.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for VCYT is Buy with a score of 4.00.

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