During the last session, Veracyte Inc. (NASDAQ:VCYT)’s traded shares were 1.04 million, with the beta value of the company hitting 1.10. At the end of the trading day, the stock’s price was $27.66, reflecting an intraday gain of 10.42% or $2.61. The 52-week high for the VCYT share is $54.13, that puts it down -95.7 from that peak though still a striking 46.31% gain since the share price plummeted to a 52-week low of $14.85. The company’s market capitalization is $1.97B, and the average intraday trading volume over the past 10 days was 0.88 million shares, and the average trade volume was 1.09 million shares over the past three months.
Veracyte Inc. (VCYT) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.00. VCYT has a Sell rating from 1 analyst(s) out of 8 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 5 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.22.
Veracyte Inc. (NASDAQ:VCYT) trade information
Veracyte Inc. (VCYT) registered a 10.42% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 10.42% in intraday trading to $27.66 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 0.73%, and it has moved by 15.59% in 30 days. Based on these gigs, the overall price performance for the year is -40.31%. The short interest in Veracyte Inc. (NASDAQ:VCYT) is 3.91 million shares and it means that shorts have 3.53 day(s) to cover.
The consensus price target of analysts on Wall Street is $30.33, which implies an increase of 8.8% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $23.00 and $35.00 respectively. As a result, VCYT is trading at a discount of -26.54% off the target high and 16.85% off the low.
Veracyte Inc. (VCYT) estimates and forecasts
Statistics show that Veracyte Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Veracyte Inc. (VCYT) shares have gone down -6.68% during the last six months, with a year-to-date growth rate more than the industry average at 17.31% against 2.60. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -69.20% this quarter and then drop -20.00% in the quarter after that. In the rating firms’ projections, revenue will increase 24.10% compared to the previous financial year.
Revenue for the current quarter is expected to be $68.08 million as predicted by 7 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $66.2 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $55.1 million and $60.37 million respectively. In this case, analysts expect current quarter sales to grow by 23.50% and then jump by 9.70% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -0.50%. While earnings are projected to return -69.70% in 2022.
Veracyte Inc. is due to release its next quarterly earnings between February 15 and February 21. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Veracyte Inc. (NASDAQ:VCYT)’s Major holders
Veracyte Inc. insiders own 0.93% of total outstanding shares while institutional holders control 106.00%, with the float percentage being 107.00%. ARK Investment Management, LLC is the largest shareholder of the company, while 303 institutions own stock in it. As of Jun 29, 2022, the company held over 8.86 million shares (or 12.40% of all shares), a total value of $176.24 million in shares.
The next largest institutional holding, with 6.61 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 9.25% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $182.21 million.
Also, the Mutual Funds coming in first place with the largest holdings of Veracyte Inc. (VCYT) shares are ARK ETF Tr-ARK Innovation ETF and SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF. Data provided on Jun 29, 2022 indicates that ARK ETF Tr-ARK Innovation ETF owns about 4.97 million shares. This amounts to just over 6.95 percent of the company’s overall shares, with a $98.88 million market value. The same data shows that the other fund manager holds slightly less at 3.73 million, or about 5.22% of the stock, which is worth about $74.27 million.