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After A Decline Of -44.45% From The High, Can Veracyte Inc. (NASDAQ: VCYT) Recover Quickly?

Veracyte Inc. (NASDAQ:VCYT)’s traded shares stood at 1.53 million during the last session, with the company’s beta value hitting 1.43. At the close of trading, the stock’s price was $22.43, to imply a decrease of -3.78% or -$0.88 in intraday trading. The VCYT share’s 52-week high remains $32.40, putting it -44.45% down since that peak but still an impressive 33.79% since price per share fell to its 52-week low of $14.85. The company has a valuation of $1.77B, with an average of 0.85 million shares in intraday trading volume over the past 10 days and average of 712.13K shares over the past 3 months.

Veracyte Inc. (NASDAQ:VCYT) trade information

After registering a -3.78% downside in the last session, Veracyte Inc. (VCYT) has traded red over the past five days. The stock hit a weekly high of 23.90 this Friday, 03/17/23, dropping -3.78% in its intraday price action. The 5-day price performance for the stock is 6.35%, and -16.96% over 30 days. With these gigs, the year-to-date price performance is -5.48%. Short interest in Veracyte Inc. (NASDAQ:VCYT) saw shorts transact 2.55 million shares and set a 2.83 days time to cover.

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Veracyte Inc. (VCYT) estimates and forecasts

Looking at statistics comparing Veracyte Inc. share performance against respective industry, we note that the company has underperformed competitors. Veracyte Inc. (VCYT) shares are 14.44% up over the last 6 months, with its year-to-date growth rate lower than industry average at -5.88% against 4.80%. Revenue is forecast to shrink -6.70% this quarter before jumping 35.00% for the next one. The rating firms project that company’s revenue will grow 32.70% compared to the previous financial year.

Revenue forecast for the current quarter as set by 8 analysts is $74.91 million. Meanwhile, for the quarter ending Mar 2023, a total of 6 analyst(s) estimate revenue growth to $76.9 million.Earnings reports from the last fiscal year show that sales brought in $67.34 million and $67.78 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 11.20% before jumping 13.50% in the following quarter.

VCYT Dividends

Veracyte Inc. has its next earnings report out between May 01 and May 05. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Veracyte Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Veracyte Inc. (NASDAQ:VCYT)’s Major holders

Veracyte Inc. insiders hold 0.99% of total outstanding shares, with institutional holders owning 107.11% of the shares at 108.18% float percentage. In total, 107.11% institutions holds shares in the company, led by ARK Investment Management, LLC. As of Dec 30, 2022, the company held over 8.3 million shares (or 11.57% of shares), all amounting to roughly $196.96 million.

The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 6.76 million shares, or about 9.42% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $112.15 million.

We also have ARK ETF Tr-ARK Innovation ETF and Vanguard Explorer Fund, Inc. as the top two Mutual Funds with the largest holdings of the Veracyte Inc. (VCYT) shares. Going by data provided on Dec 30, 2022, ARK ETF Tr-ARK Innovation ETF holds roughly 4.73 million shares. This is just over 6.60% of the total shares, with a market valuation of $112.31 million. Data from the same date shows that the other fund manager holds a little less at 3.94 million, or 5.48% of the shares, all valued at about 79.13 million.

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