Veracyte Inc. [NASDAQ: VCYT] stock went on a downward path that fall over -14.56% on Friday, amounting to a one-week price decrease of less than -8.37%. The company report on April 16, 2021 that Veracyte Announces Retirement of CFO and Preliminary First Quarter 2021 Financial Results.
Keith Kennedy will retire following Q1 earnings release and 10-Q;Jane Alley appointed as acting CFO; Veracyte to conduct CFO search.
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Veracyte, Inc. (Nasdaq: VCYT) announced that Keith Kennedy, chief financial officer and chief operating officer, will retire from the company, effective May 15, 2021, following the company’s release of its full quarterly financial results and the filing of its Form 10-Q for the first quarter 2021. Jane Alley, vice president and corporate controller, will become acting CFO until a replacement is named. Veracyte is conducting a search for a new CFO.
Over the last 12 months, VCYT stock rose by 111.74%. The average equity rating for VCYT stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $3.78 billion, with 67.00 million shares outstanding and 66.44 million shares in the current float. Compared to the average trading volume of 1.06M shares, VCYT stock reached a trading volume of 1474631 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Veracyte Inc. [VCYT]:
Needham have made an estimate for Veracyte Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 18, 2021. While these analysts kept the previous recommendation, Truist raised their target price to Buy. The new note on the price target was released on January 28, 2021, representing the official price target for Veracyte Inc. stock. Previously, the target price had yet another raise to $48, while KeyBanc Capital Markets analysts kept a Sector Weight rating on VCYT stock.
The Average True Range (ATR) for Veracyte Inc. is set at 4.68, with the Price to Sales ratio for VCYT stock in the period of the last 12 months amounting to 32.15. The Price to Book ratio for the last quarter was 6.63, with the Price to Cash per share for the same quarter was set at 4.46.
VCYT Stock Performance Analysis:
Veracyte Inc. [VCYT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.37. With this latest performance, VCYT shares dropped by -10.66% in over the last four-week period, additionally plugging by 15.38% over the last 6 months – not to mention a rise of 111.74% 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 42.70, with the RSI for the last a single of trading hit 39.97, and the three-weeks RSI is set at 44.20 for Veracyte Inc. [VCYT]. The present Moving Average for the last 50 days of trading for this stock 58.23, while it was recorded at 52.96 for the last single week of trading, and 45.51 for the last 200 days.
Insight into Veracyte Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Veracyte Inc. [VCYT] shares currently have an operating margin of -27.06 and a Gross Margin at +59.79. Veracyte Inc.’s Net Margin is presently recorded at -29.71.
Return on Total Capital for VCYT is now -9.26, given the latest momentum, and Return on Invested Capital for the company is -10.21. Return on Equity for this stock declined to -10.57, with Return on Assets sitting at -9.53. When it comes to the capital structure of this company, Veracyte Inc. [VCYT] has a Total Debt to Total Equity ratio set at 2.92. Additionally, VCYT Total Debt to Total Capital is recorded at 2.84, with Total Debt to Total Assets ending up at 2.69. Long-Term Debt to Equity for the company is recorded at 2.55, with the Long-Term Debt to Total Capital now at 2.47.
Reflecting on the efficiency of the workforce at the company, Veracyte Inc. [VCYT] managed to generate an average of -$109,091 per employee. Receivables Turnover for the company is 6.22 with a Total Asset Turnover recorded at a value of 0.32.Veracyte Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 22.10 and a Current Ratio set at 22.40.
VCYT Stock EPS
With the latest financial reports released by the company, Veracyte Inc. posted -0.24/share EPS, while the average EPS was predicted by analysts to be reported at -0.2/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -20.00%. 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.
Veracyte Inc. [VCYT] Insider Position Details
There are presently around $3,155 million, or 95.10% of VCYT stock, in the hands of institutional investors. The top three institutional holders of VCYT stocks are: ARK INVESTMENT MANAGEMENT LLC with ownership of 9,027,827, which is approximately 28.624% of the company’s market cap and around 0.80% of the total institutional ownership; BLACKROCK INC., holding 5,280,975 shares of the stock with an approximate value of $254.38 million in VCYT stocks shares; and WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC, currently with $250.87 million in VCYT stock with ownership of nearly -8.329% of the company’s market capitalization.
Positions in Veracyte Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 125 institutional holders increased their position in Veracyte Inc. [NASDAQ:VCYT] by around 6,522,169 shares. Additionally, 92 investors decreased positions by around 5,165,057 shares, while 25 investors held positions by with 53,809,867 shares. The mentioned changes placed institutional holdings at 65,497,093 shares, according to the latest SEC report filing. VCYT stock had 54 new institutional investments in for a total of 1,086,206 shares, while 21 institutional investors sold positions of 981,713 shares during the same period.