Veracyte Inc (NASDAQ:VCYT) price on current trading day, rose 3.03% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $32.00.
A look at the stock’s price movement, the close in the last trading session was $31.06, moving within a range at $31.01 and $32.41. The beta value (5-Year monthly) was 1.644. Turning to its 52-week performance, $33.33 and $18.61 were the 52-week high and 52-week low respectively. Overall, VCYT moved 34.68% over the past month.
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Veracyte Inc’s market cap currently stands at around $2.46 billion, with investors looking forward to this quarter’s earnings report slated for on 2024-Nov-05.
Analysts have a consensus estimate of 109.89M for the company’s revenue for the quarter, with a low and high estimate of 108M and 112.05M respectively. The average forecast suggests up to a 22.00% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 436.23M, representing a 20.80% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that VCYT is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
0 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 0 recommend VCYT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is nan which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
VCYT’s current price about 15.55% and 30.32% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 66.36, while 7-day volatility ratio is 2.94% and 5.97% in the 30-day chart. Further, Veracyte Inc (VCYT) has a beta value of 1.63, and an average true range (ATR) of 1.53. Analysts have given the company’s stock an average 52-week price target of $26, forecast between a low of $26 and high of $26. Looking at the price targets, the low is 18.75% off current price level while to achieve the yearly target high, price needs to move 18.75%. Nonetheless, investors will most likely welcome a 18.75% jump to $26 which is the analysts’ median price.
If we refocus on Veracyte Inc (NASDAQ:VCYT), historical trading data shows that trading volumes averaged 0.94 over the past 10 days and 933.93K over the past 3 months. The company’s latest data on shares outstanding shows there are 76.81 million shares.
The 1.51% of Veracyte Inc’s shares are in the hands of company insiders while institutional holders own 103.38% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 2.96 million on 2024-07-31, giving us a short ratio of 3.8. The data shows that as of 2024-07-31 short interest in Veracyte Inc (VCYT) stood at 430.0 of shares outstanding, with shares short rising to 2.91 million registered in 2024-06-28. Current price change has pushed the stock 16.32% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the VCYT stock continues to rise going into the next quarter.
