Veracyte Inc. [NASDAQ: VCYT] traded at a high on 12/22/20, posting a 11.46 gain after which it closed the day’ session at $57.17. The company report on December 22, 2020 that Bayer and Veracyte Announce Precision Oncology Collaboration in Thyroid Cancer.
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Bayer and Veracyte (Nasdaq:VCYT) announced a new collaboration to advance the Precision Oncology Patient Identification Program in thyroid cancer. Through the program, Bayer will offer testing with Veracyte’s Afirma Xpression Atlas (XA) to identify underlying genomic drivers, including NTRK gene fusions, within patients’ tumors. The program will focus on patients with advanced or metastatic thyroid cancer that is radioactive iodine refractory (RAIR) who may potentially benefit from biomarker-driven therapies.
The results of the trading session contributed to over 1545603 shares changing hands. Over the past one week, the price volatility of Veracyte Inc. stands at 10.77% while the volatility over the past one month is 6.69%.
The market cap for VCYT stock reached $3.30 billion, with 57.90 million shares outstanding and 57.55 million shares in the current float. Compared to the average trading volume of 551.93K shares, VCYT reached a trading volume of 1545603 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Veracyte Inc. [VCYT]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VCYT shares is $46.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VCYT stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
KeyBanc Capital Markets have made an estimate for Veracyte Inc. shares, keeping their opinion on the stock as Sector Weight, with their previous recommendation back on November 10, 2020. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Underweight. The new note on the price target was released on September 09, 2020, representing the official price target for Veracyte Inc. stock. Previously, the target price had yet another raise to $35, while Lake Street analysts kept a Buy rating on VCYT stock.
The Average True Range (ATR) for Veracyte Inc. is set at 3.83, with the Price to Sales ratio for VCYT stock in the period of the last 12 months amounting to 29.32. The Price to Book ratio for the last quarter was 7.42, with the Price to Cash per share for the same quarter was set at 5.97.
How has VCYT stock performed recently?
Veracyte Inc. [VCYT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.44. With this latest performance, VCYT shares gained by 11.14% in over the last four-week period, additionally plugging by 130.52% over the last 6 months – not to mention a rise of 93.08% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VCYT stock in for the last two-week period is set at 60.71, with the RSI for the last a single of trading hit 61.74, and the three-weeks RSI is set at 61.00 for Veracyte Inc. [VCYT]. The present Moving Average for the last 50 days of trading for this stock 47.12, while it was recorded at 50.43 for the last single week of trading, and 32.82 for the last 200 days.
Veracyte Inc. [VCYT]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Veracyte Inc. [VCYT] shares currently have an operating margin of -12.57 and a Gross Margin at +67.09. Veracyte Inc.’s Net Margin is presently recorded at -10.47.
Return on Total Capital for VCYT is now -8.45, given the latest momentum, and Return on Invested Capital for the company is -7.09. Return on Equity for this stock declined to -7.89, with Return on Assets sitting at -6.37. When it comes to the capital structure of this company, Veracyte Inc. [VCYT] has a Total Debt to Total Equity ratio set at 5.68. Additionally, VCYT Total Debt to Total Capital is recorded at 5.38, with Total Debt to Total Assets ending up at 4.94. Long-Term Debt to Equity for the company is recorded at 5.09, with the Long-Term Debt to Total Capital now at 4.82.
Reflecting on the efficiency of the workforce at the company, Veracyte Inc. [VCYT] managed to generate an average of -$35,590 per employee. Receivables Turnover for the company is 7.41 with a Total Asset Turnover recorded at a value of 0.61.Veracyte Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 26.30 and a Current Ratio set at 26.60.
Earnings analysis for Veracyte Inc. [VCYT]
With the latest financial reports released by the company, Veracyte Inc. posted -0.15/share EPS, while the average EPS was predicted by analysts to be reported at -0.07/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -114.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for VCYT.
Insider trade positions for Veracyte Inc. [VCYT]
There are presently around $3,666 million, in the hands of institutional investors. The top three institutional holders of VCYT stocks are: ARK INVESTMENT MANAGEMENT LLC with ownership of 7,018,770, which is approximately 38.607% of the company’s market cap and around 0.90% of the total institutional ownership; WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC, holding 5,681,089 shares of the stock with an approximate value of $324.79 million in VCYT stocks shares; and BLACKROCK INC., currently with $293.31 million in VCYT stock with ownership of nearly 11.278% of the company’s market capitalization.
Positions in Veracyte Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 115 institutional holders increased their position in Veracyte Inc. [NASDAQ:VCYT] by around 10,794,737 shares. Additionally, 61 investors decreased positions by around 5,049,952 shares, while 27 investors held positions by with 48,279,368 shares. The mentioned changes placed institutional holdings at 64,124,057 shares, according to the latest SEC report filing. VCYT stock had 37 new institutional investments in for a total of 888,570 shares, while 14 institutional investors sold positions of 3,327,186 shares during the same period.