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Veracyte

Veracyte Inc is a genomic diagnostics company. It provides genomic diagnostic products and services to improve patient care against diseases such as thyroid cancer, lung cancer, and idiopathic pulmonary fibrosis. The firm's product portfolio consists of products such as Afirma analysis, Percepta, Envisia, and others.

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VCYT

A company with a favorable efficiency level is expected to provide stellar returns as it is believed to be positively correlated with price performance. In fact, efficiency level, which measures a company&#39;s capability to transform available input into output, is often considered an important parameter for gauging its potential to make profits.

3 Top-Ranked Efficient Stocks to Increase Your Portfolio Returns

Cathie Wood, founder of Ark Invest.

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On Monday, Cathie Wood-led Ark Invest made a significant move by reducing its holdings in Robinhood Markets Inc (NASDAQ:HOOD). This decision came amidst a period of market fluctuations and followed a recent trend of the investment firm adjusting its portfolio.

Cathie Wood-Lead Ark Invest Dumps $7.6M Worth Of Robinhood Shares Amid GameStop Buzz, Bitcoin Choppiness

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The Medical Instruments industry has been witnessing a gradual transition from remote healthcare and contactless services during the pandemic to its original space of point-of-care testing, heavy as well as minimally invasive implants, elective procedures, and so on. This industry is highly fragmented, with participants engaged in research and development (R&amp;D) in therapeutic areas.

Buy 5 Medical Instruments Stocks to Enhance Your Portfolio

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On Wednesday, Cathie Wood-led Ark Invest made a significant move by selling over $17 million worth of Coinbase Global Inc (NASDAQ:COIN) shares.

Cathie Wood&#39;s Ark Invest Dumps $17M In Coinbase Shares As The Exchange Grappled With Disruption Amid Bitcoin Rally

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On Tuesday, Cathie Wood-led Ark Invest adjusted its portfolio, making significant trades.

Cathie Wood&#39;s Ark Invest Sheds $9.3M Worth Of Coinbase Shares Amid Bitcoin Rally — Robinhood Stock Also Sold

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On Monday, Cathie Wood-led Ark Invest adjusted its portfolio, notably selling shares of cryptocurrency-related companies such as Robinhood Markets Inc (NASDAQ:HOOD) and Coinbase Global Inc (NASDAQ:

Cathie Wood&#39;s Ark Invest Offloads $6.9M Worth of Coinbase, Robinhood Shares Each Amid Searing Bitcoin Rally — Nvidia Stock Also Shed

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On Wednesday, Cathie Wood-led Ark Invest made a significant move in the cryptocurrency space, purchasing over $92 million worth of ProShares Bitcoin Strategy ETF (NYSE:BITO).

Cathie Wood&#39;s Ark Invest Buys Over $92M Worth Of ProShares Bitcoin ETF, Sells Coinbase, Block And Palantir Shares

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Veracyte, Inc. (NASDAQ: VCYT) shares are volatile after-hours on Wednesday after the company announced that new data from a phase 3 trial validates the value of the Decipher Prostate Genomic Classifier in assisting physicians make more informed treatment decisions for their 

Veracyte Stock Is Volatile After-Hours - Here&#39;s Why

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Raymond James Upgrades Natera &amp; Myriad Genetics, While Downgrading This Stock

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Why Apyx Medical Shares Dipped Over 60%; Here Are 123 Biggest Movers From Yesterday

Veracyte Inc

A company with a favorable efficiency level is expected to provide stellar returns as it is believed to be positively correlated with price performance. In fact, efficiency level, which measures a company&#39;s capability to transform available input into output, is often considered an important parameter for gauging its potential to make profits.
However, at times, it becomes difficult to measure the efficiency level of a company. This is why one must consider popular efficiency ratios while selecting stocks.
These efficiency ratios are:
Receivables Turnover:&nbsp; This is the ratio of 12-month sales to four-quarter average receivables. It shows a company&#39;s potential to extend its credit and collect debt in terms of that credit. A high receivables turnover ratio or the &quot;accounts receivable turnover ratio&quot; or &quot;debtor&#39;s turnover ratio&quot; is desirable as it shows that the company is capable of collecting its accounts receivables or that it has quality customers.
Asset Utilization: This ratio indicates a company&#39;s capability to convert assets into output and is thus a widely known measure of efficiency level. It is calculated by dividing total sales over the past 12 months by the last four-quarter average of total assets. Like the above ratios, high asset utilization may indicate that a company is efficient.
Inventory Turnover: The ratio of the 12-month cost of goods sold (COGS) to a four-quarter average inventory is considered one of the most popular efficiency ratios. It indicates a company&#39;s ability to maintain a suitable inventory position. While a high value indicates that the company has a relatively low level of inventory compared to COGS, a low value indicates that the company is facing declining sales, which has resulted in excess inventory.
Operating Margin: This efficiency measure is the ratio of operating income over the past 12 months to sales over the same period. It measures a company&#39;s ability to control operating expenses. Hence, a high value of the ratio may indicate that the company manages its operating expenses more efficiently than its peers.
<h3>Screening Criteria</h3>
In addition to the abovementioned ratios, we have added a favorable Zacks Rank &mdash; Zacks Rank #1 (Strong Buy) &mdash; to the screen to make this strategy more profitable.
Inventory Turnover, Receivables Turnover, Asset Utilization, and Operating Margin greater than the industry average
(Values of these ratios higher than industry averages may indicate that the efficiency level of the company is higher than its peers.)&nbsp; &nbsp;
The use of these few criteria narrowed down the universe of over 7,906 stocks to eight.
Here are the top three stocks that made it through the screen:
Veracyte (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vcyt#NASDAQ">VCYT</a>) is a global diagnostics company that provides clinicians with valuable insights to diagnose and treat cancer. VCYT has an average four-quarter earnings surprise of 59.7%.
Steelcase (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/scs#NYSE">SCS</a>) is a designer and manufacturer of products used to create high-performance work environments. SCS has an average four-quarter earnings surprise of nearly 57.1%.
Applied Industrial Technologies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ait#NYSE">AIT</a>) is a distributor of value-added industrial products &mdash; including engineered fluid power components, bearings, specialty flow control solutions, power transmission products and miscellaneous industrial supplies. AIT has an average four-quarter earnings surprise of 8.2%.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
<a href="https://www.zacks.com/stock/news/2292701/3-top-ranked-efficient-stocks-to-increase-your-portfolio-returns?cid=CS-BENZ-FT-analyst_blog|rw-2292701">To read this article on Zacks.com click here.</a>

On Monday, Cathie Wood-led Ark Invest made a significant move by reducing its holdings in Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>). This decision came amidst a period of market fluctuations and followed a recent trend of the investment firm adjusting its portfolio.
The HOOD Trade: Ark Invest&#8217;s decision to trim its position in Robinhood was executed through three of its ETFs. The ARK Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>) sold 31,827 shares, while the ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) and the ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) offloaded 215,675 and 76,299 shares respectively. Based on Robinhood&#8217;s closing price of $23.42 on Monday, the total value of the shares sold is approximately $7.6 million. 
The volatility in Robinhood shares comes amid a <a href="https://www.benzinga.com/news/24/06/39234943/whats-going-on-with-robinhood-stock">revival of the meme stock saga</a>, recently Robinhood CEO Vlad Tenev announced that the company was prepared to handle any traffic influx resulting from a scheduled live stream from Roaring Kitty, also known as Keith Gill, who is famous for his investments in GameStop Corporation. The company also recently announced a <a href="https://www.benzinga.com/news/24/05/39047461/robinhood-markets-stock-jumps-on-1b-buyback-whats-going-on">$1 billion buyback</a>, which contributed to the stock&#8217;s upward trend.
Notably, the trade was executed in the background of a <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39262872/bitcoin-ethereum-dogecoin-remain-choppy-analyst-forecasts-2x-10x-increase-for-king-crypto-">choppy cryptocurrency market</a> when major coins like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) traded in the red.
Other Key Trades: 
<ul>
<li>Exact Sciences Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXAS#NASDAQ">EXAS</a>): Sold shares via ARKG and shares via ARKK.</li>
<li>Arcturus Therapeutics Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCT#NASDAQ">ARCT</a>): Purchased shares via ARKG. </li>
<li>Teladoc Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>): Sold shares via ARKG. </li>
<li>Intellia Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTLA#NASDAQ">NTLA</a>): Bought shares via ARKG and shares via ARKK. </li>
<li>Verve Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERV#NASDAQ">VERV</a>): Sold shares via ARKG and shares via ARKK. Veracyte Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCYT#NASDAQ">VCYT</a>): Bought 5,804 shares via ARKG and shares via ARKK.</li>
</ul>
Read Next: <a href="https://www.benzinga.com/markets/equities/24/06/39246807/investor-naval-ravikant-threatens-to-sell-all-tesla-holdings-if-ceo-musks-pay-plan-is-rejected-b?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Investor Naval Ravikant Threatens To Sell All Tesla Holdings If CEO Musk&#8217;s Pay Plan Is Rejected But Says He&#8217;ll Buy More If Approved</a>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Biotech

Veracyte Reports Research Using Afirma GRID Tool

The Medical Instruments industry has been witnessing a gradual transition from remote healthcare and contactless services during the pandemic to its original space of point-of-care testing, heavy as well as minimally invasive implants, elective procedures, and so on. This industry is highly fragmented, with participants engaged in research and development (R&amp;D) in therapeutic areas.
The Zacks defined Medical Instruments industry has advanced 8.9% in the past year and 9.7% year to date, respectively. Since the Medical Instruments industry ranks within the top 38% of Zacks Ranked industries, we expect it to outperform the market over the next three to six months.
The medical instruments space has been benefiting from the ongoing merger and acquisition trend. The smaller and mid-sized industry players have been trying to compete with the big shots through consolidation. This trend is more visible after the pandemic-led downturn. The big players are also attempting to enter new markets by acquiring niche products.
Moreover, since the beginning of 2023, this industry has been witnessing a massive adoption of artificial intelligence&nbsp;and the Internet of Medical Things in the form of digital healthcare options in hospitals and other healthcare settings. Digital enhancement, amid cost optimization proves to be better for clinical outcomes.
With an increase in the adoption of digital platforms within the medical device space, robotic surgeries, big-data analytics, bioprinting, 3D printing, electronic health records, predictive analytics, real-time alerting and revenue cycle management services are gaining prominence in the United States.
An October 2023 report of Precedence Research suggested that the global digital health market size is anticipated to reach around $939.54 billion by 2032, up from $262.63 billion in 2022, at a CAGR of 13.1%.
However, the Medical Instruments players are suffering from logistical challenges and higher unit costs. The pandemic-led devastation of the global supply-chain management system and the effects of monetary policy tightening by the Fed to combat a record-high inflation rate and the withdrawal of fiscal support amid high debt are negatively impacting the industry.
<h3>Our Top Picks</h3>
We have narrowed our search to five Medical Instruments stocks with strong potential for 2024. These stocks have seen positive earnings estimate revisions in the last 60 days. Each of our picks carries a Zacks Rank# 2 (Buy).
The chart below shows the price performance of our five picks year to date.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/bd/67326.jpg?v=1468466896" /> 
Image Source: Zacks Investment Research
Alcon Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/alc#NYSE">ALC</a>) is witnessing strength in the Surgical and Vision Care segments backed by healthy markets. Within Surgical, ALC continues to gain market share driven by strong consumables and equipment sales. ALC&#39;s flagship lenses, Vivity and PanOptix and monofocal torics continue to lead the category globally.
In Vision Care, ALC is registering solid growth, banking on strong sales of its contact lenses and ocular health products. In contact lenses, ALC is successfully executing its strategy of investing in fast-growing market segments. ALC is witnessing a strong uptake of its specialty daily lenses, including DAILIES Total1 Toric, DAILIES Total1 Multifocal and Precision1 Toric.
Alcon has an expected revenue and earnings growth rate of 6.2% and 11.3%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.3% over the last 60 days.
RxSight Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rxst#NASDAQ">RXST</a>) is a commercial-stage medical device company, engaged in the research and development, manufacture, and sale of light-adjustable intraocular lenses used in cataract surgery in the United States and internationally.
RXST offers the RxSight system that enables doctors to customize and enhance the visual acuity for patients after a cataract surgery. RXST&#39;s RxSight system includes RxSight Light Adjustable Lens, a unique photosensitive material that changes shape and power.
RxSight has an expected revenue and earnings growth rate of 51.6% and 73.8%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 26% over the last 30 days.
Hologic Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/holx#NASDAQ">HOLX</a>) continues to witness revenue growth with a recovery in procedural volumes and an acceleration in new business lines. HOLX&#39;s GYN Surgical business is registering growth driven by contributions from MyoSure Fluent Fluid Management and Laparoscopy.
HOLX&#39;s expanded global installed base of Panthers instruments represents the catalyst for sustained growth in Diagnostics. HOLX&#39;s international business continues to drive strong top-line growth. To streamline its operations and reduce the cost of revenues, Hologic has been adopting strategies that are likely to drive future growth.
Hologic has an expected revenue and earnings growth rate of 0.1% and 2.8%, respectively, for the current year (ending September 2024). The Zacks Consensus Estimate for current-year earnings has improved 1.2% over the last 30 days.
Veracyte Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vcyt#NASDAQ">VCYT</a>) continues the strong growth momentum with a robust display of strength in the testing business using its established diagnostic platform. Afirma test&#39;s differentiation is leading to market share gains owing to the evidence of its quality and performance. The new GRID ROU tool is garnering strong interest from physicians, while the addition of TERT testing reinforces VCYT&#39;s competitive position.
The Decipher Prostrate test is also making strides, achieving a &lsquo;Level 1B&#39; designation in the updated NCCN guidelines and advancing on the reimbursement front. VCYT&#39;s strategic R&amp;D investment in long-term growth projects is paying off. Favorable solvency appears encouraging.
Veracyte has an expected revenue and earnings growth rate of 11.9% and 81.4%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 34.5% over the last 30 days.
Masimo Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/masi#NASDAQ">MASI</a>) products have been the subject of various studies over the past few months, which is promising. MASI&#39;s focus on patient monitoring and its ongoing research and product development efforts are also impressive. A solid product suite is likely to aid MASI in solidifying its business globally. A strong liquidity position is an added plus.
Masimo has an expected revenue and earnings growth rate of 11.9% and 5%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 28.5% over the last 30 days.
<a href="https://www.zacks.com/stock/news/2277850/buy-5-medical-instruments-stocks-to-enhance-your-portfolio?cid=CS-BENZ-FT-analyst_blog|investment_ideas-2277850">To read this article on Zacks.com click here.</a>

4 analysts have expressed a variety of opinions on Veracyte (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCYT#NASDAQ">VCYT</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $27.25, with a high estimate of $33.00 and a low estimate of $21.00. A negative shift in sentiment is evident as analysts have decreased the average price target by 6.84%. 
<img src="https://www.benzinga.com/files/images/story/2024/1715180429_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
A clear picture of Veracyte's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Mike Matson</td>
<td>Needham</td>
<td>Lowers</td>
<td>Buy</td>
<td>$27.00</td>
<td>$33.00</td>
</tr>
<tr>
<td>Matthew Sykes</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Buy</td>
<td>$28.00</td>
<td>$32.00</td>
</tr>
<tr>
<td>Tejas Savant</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Underweight</td>
<td>$21.00</td>
<td>$22.00</td>
</tr>
<tr>
<td>Mike Matson</td>
<td>Needham</td>
<td>Raises</td>
<td>Buy</td>
<td>$33.00</td>
<td>$30.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Veracyte. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Veracyte compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Veracyte's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Veracyte's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/VCYT/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Veracyte analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>About Veracyte</h2>
Veracyte Inc is a genomic diagnostics company. It provides genomic diagnostic products and services to improve patient care against diseases such as thyroid cancer, lung cancer, and idiopathic pulmonary fibrosis. The firm's product portfolio consists of products such as Afirma analysis, Percepta, Envisia, and others.
<h3>Financial Milestones: Veracyte's Journey</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Veracyte's revenue growth over a period of 3 months has been noteworthy. As of 31 December, 2023, the company achieved a revenue growth rate of approximately 22.29%. This indicates a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Health Care sector.
Net Margin: Veracyte's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of -28.81%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Veracyte's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of -2.7%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Veracyte's ROA excels beyond industry benchmarks, reaching -2.53%. This signifies efficient management of assets and strong financial health.
Debt Management: Veracyte's debt-to-equity ratio is below the industry average. With a ratio of 0.01, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Glimpse Into The Expert Outlook On Veracyte Through 4 Analysts

Needham analyst Mike Matson maintains Veracyte (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCYT#NASDAQ">VCYT</a>) with a Buy and lowers the price target from $33 to $27.

Needham Maintains Buy on Veracyte, Lowers Price Target to $27

Veracyte (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCYT#NASDAQ">VCYT</a>) reported quarterly losses of $(0.02) per share which beat the analyst consensus estimate of $(0.17) by 88.24 percent. This is a 81.82 percent increase over losses of $(0.11) per share from the same period last year. The company reported quarterly sales of $96.844 million which beat the analyst consensus estimate of $93.370 million by 3.72 percent. This is a 17.50 percent increase over sales of $82.422 million the same period last year.

Earnings Beats

Veracyte Q1 2024 GAAP EPS $(0.02) Beats $(0.17) Estimate, Sales $96.844M Beat $93.370M Estimate

Guidance

Veracyte Raises FY24 Revenue From $394M-$402M To $402M-$410M Vs $397.942M Est.

Large number of abstracts also showcases power of the Veracyte Diagnostics Platform
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.veracyte.com%2F&amp;esheet=53973323&amp;newsitemid=20240506512666&amp;lan=en-US&amp;anchor=Veracyte%2C+Inc&amp;index=1&amp;md5=468cbb245f77b464758a5f907996f442">Veracyte, Inc</a>. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCYT#NASDAQ">VCYT</a>), a leading cancer diagnostics company, today announced that data from <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fveracytestg.wpengine.com%2Fwp-content%2Fuploads%2F2024%2F04%2FAUA-2024-Abstract-Presentations-List_04.25.24.pdf&amp;esheet=53973323&amp;newsitemid=20240506512666&amp;lan=en-US&amp;anchor=14+presentations&amp;index=2&amp;md5=59789e4e694e486d881af3731d3d4185">14 presentations</a> at AUA 2024, the annual meeting of the American Urological Association, show that the Decipher Prostate and Decipher Bladder Genomic Classifiers provide better prognostic information for patients with prostate and bladder cancer, compared to standard approaches. They also show that the research-use-only Decipher GRID (Genomic Resource for Intelligent Discovery) tool is helping to advance scientific understanding of these diseases. The findings were presented during the conference taking place May 3-6 in San Antonio.
"The large amount of data presented at AUA 2024 reinforces Veracyte's commitment to building rigorous evidence that demonstrates our tests' performance and clinical utility," said Elai Davicioni, Ph.D., Veracyte's medical director for Urology. "Further, our whole-transcriptome approach to testing provides an incredible amount of data that we are pleased to share with the research community through Decipher GRID to help advance understanding of urologic cancers and ultimately improve patient outcomes."
Studies showing the Decipher Prostate test's ability to better inform prostate cancer treatment include:
<ul>
<li><a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.auajournals.org%2Fdoi%2F10.1097%2F01.JU.0001008896.93851.5b.09&amp;esheet=53973323&amp;newsitemid=20240506512666&amp;lan=en-US&amp;anchor=Poster+MP41-09&amp;index=3&amp;md5=b9688844eef0dfadd36299ad1e00f032">Poster MP41-09</a>: Genomic Signatures Associated with Adverse Pathologic Features at Radical Prostatectomy Among Active Surveillance Eligible Men. Presented by Eric Li, M.D., Northwestern University. Summary: The Decipher Prostate Genomic Classifier is associated with adverse pathology in patients eligible for Active Surveillance (AS) who were treated with radical prostatectomy (RP). The findings suggest the Decipher test may be able to identify patients at increased risk of harboring higher grade and non-organ confined disease who may not be ideal candidates for AS. "Despite having similar clinical features at diagnosis, our study suggests that AS-eligible prostate cancer patients have a spectrum of risk for occult adverse pathology that can be elucidated at the level of gene expression," said Ashley Ross, M.D., Ph.D., clinical director for the Polsky Urological Oncology Center at Northwestern University and principal investigator on the study. "Our results suggest that use of the Decipher Prostate test may help clinicians better stratify risk among patients eligible for AS, which may ultimately help reduce under- and over-treatment." &nbsp;</li>
<li><a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.auajournals.org%2Fdoi%2F10.1097%2F01.JU.0001008896.93851.5b.14&amp;esheet=53973323&amp;newsitemid=20240506512666&amp;lan=en-US&amp;anchor=Poster+MP41-14&amp;index=4&amp;md5=f403d8e3b42abba973f820c7cfb57f02">Poster MP41-14</a>: High Decipher scores define the subgroup most at risk of metastatic progression among patients with lower-grade tumors classified as NCCN high-risk based on elevated prostate-specific antigen level alone. Presented by David Han, M.D., Columbia University Irving Medical Center. Summary: Despite harboring favorable, lower grade (Grade Group 1 or 2) organ-confined disease, patients with a prostate-specific antigen (PSA) level of &gt;20 ng/mL are currently classified by practice guidelines as "high risk". In a cohort of 453 patients with long-term outcomes, the Decipher Prostate test score better predicted the development of distant metastases than PSA. These results provide further evidence that a higher Decipher score is a more accurate risk factor than PSA in patients with otherwise favorable disease. &nbsp;</li>
<li><a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.auajournals.org%2Fdoi%2F10.1097%2F01.JU.0001008696.31772.28.09&amp;esheet=53973323&amp;newsitemid=20240506512666&amp;lan=en-US&amp;anchor=Poster+MP49-09&amp;index=5&amp;md5=a77e90dbe9c7da649a413fd9f42312aa">Poster MP49-09</a>: Decipher Predicts Clinically Significant Upgrading on Final Radical Prostatectomy Pathology. Presented by John Sheng, M.D., Washington University School of Medicine in St. Louis. Summary: A large registry (n=760) from prospective clinical use of Decipher Prostate and multiparametric prostate MRI (mpMRI) at diagnosis was examined to determine factors significantly associated with high-grade disease at radical prostatectomy (RP). In the subset with low- or intermediate-grade prostate cancer at initial biopsy only Decipher and grade group, but not mpMRI PIRADS or baseline PSA, predicted high-risk disease at final pathology after RP. &nbsp;</li>
<li><a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.auajournals.org%2Fdoi%2F10.1097%2F01.JU.0001008560.54103.65.03&amp;esheet=53973323&amp;newsitemid=20240506512666&amp;lan=en-US&amp;anchor=Podium+Presentation+PD42-03&amp;index=6&amp;md5=a7a6b3e29732f1c9d89293b25676ca56">Podium Presentation PD42-03</a>: Understanding Population-Wide Genomic Risk Distribution and Integrating Clinical-Genomic Risk for Prognostication in Prostate Cancer. Presented by Udit Singhal, M.D., University of Michigan. Summary: The International Staging Collaboration for Prostate Cancer (STAR-CAP) is a highly validated prognostic clinical risk staging system. In an analysis of 52,565 patients from the state-wide Michigan Urological Surgery Improvement Collaborative (MUSIC) and the nation-wide Decipher GRID database, researchers found wide variation of Decipher Prostate Genomic Classifier scores within STAR-CAP risk groups. Overall, they found Decipher testing augmented by at least one STAR-CAP stage both upstaging for about 25% and down-staging for nearly 50% of cases, suggesting that integration of genomic with advanced clinicopathologic staging systems may lead to further improvements to risk stratification across the clinical spectrum of localized disease.</li>
</ul>
The following study demonstrates the Decipher Bladder test's utility in informing treatment decisions for patients with bladder cancer:
<ul>
<li><a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.auajournals.org%2Fdoi%2F10.1097%2F01.JU.0001009500.87761.bf.07&amp;esheet=53973323&amp;newsitemid=20240506512666&amp;lan=en-US&amp;anchor=Poster+MP15-07&amp;index=7&amp;md5=f1006e945ef7a5b848515702ba80cab4">Poster MP15-07</a>: Molecular subtyping for predicting non-organ confined disease and survival outcomes after radical cystectomy in clinical high-grade T1 and T2 bladder cancer patients. Presented by Yair Lotan, M.D., UT Southwestern Medical Center. Summary: Clinical staging in bladder cancer commonly underestimates the true disease stage as many patients are upstaged to non-organ confined (NOC) disease (pT3+ and/or N+) at radical cystectomy (RC). This multi-center study of 200 patients validates prior findings, further demonstrating the utility of the Decipher Bladder Genomic Subtyping Classifier (GSC) for predicting upstaging and outcomes in a cohort of patients with clinical T1 or T2 bladder cancer treated with radical cystectomy but without neoadjuvant therapy.</li>
</ul>
Additional studies used the RUO Decipher GRID tool to explore prostate and bladder cancer topics that include: which patients are likely to benefit from specific therapies, racial differences in disease biology, and molecular pathway alterations following treatment.
"The depth and breadth of Decipher-focused data at AUA 2024 underscores the value of our novel Veracyte Diagnostics Platform, which begins with delivering high-performing tests using a comprehensive, whole-transcriptome approach. This fosters additional research, which in turn supports further innovation to help more patients," said Phillip Febbo, M.D., Veracyte's chief scientific officer and chief medical officer.
 &nbsp;

Veracyte Announces Data From 14 Studies Presented At AUA 2024 Show Decipher Tests' Ability To Help Personalize Care For Prostate And Bladder Cancer Patients And Advance Disease Understanding

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.veracyte.com%2F&amp;esheet=53939641&amp;newsitemid=20240422349293&amp;lan=en-US&amp;anchor=Veracyte%2C+Inc&amp;index=1&amp;md5=5952677627c7e8043582b34f333647f3">Veracyte, Inc</a>. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCYT#NASDAQ">VCYT</a>), a leading cancer diagnostics company, today announced that a new study published in <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fascopubs.org%2Fdoi%2F10.1200%2FPO.23.00603&amp;esheet=53939641&amp;newsitemid=20240422349293&amp;lan=en-US&amp;anchor=JCO+Precision+Oncology&amp;index=2&amp;md5=eaad9f81e8bcc39cd36f46edbbf25dc2">JCO Precision Oncology</a> shows that, among patients undergoing Active Surveillance (AS) for prostate cancer, the Decipher Prostate Genomic Classifier is prognostic for identifying those whose disease is likely to progress. The findings make the Decipher test the only gene expression test to have treatment-outcome data from a prospective, multi-center, phase 2, randomized trial in the AS population.
Patients whose prostate cancer is found at an early stage and who are clinically low or intermediate risk are commonly offered AS, meaning they are closely monitored rather than undergo intervention such as surgery or radiation. Identifying the optimal candidates for active surveillance, however, is not always easy, as clinical indicators are limited in their ability to identify those who may be at a higher risk of future grade reclassification or cancer progression.
"The findings from the ENACT trial analysis demonstrate that the Decipher Prostate test is a predictor of disease progression on AS," said Elai Davicioni, Ph.D., Veracyte's medical director for Urology. "These data also further reinforce Veracyte's commitment to evidence generation that supports the Decipher Prostate test's ‘Level 1B' evidence status – the highest among commercially available gene expression tests – in the most recent NCCN&#xAE; Guidelines&#x2A; for prostate cancer."
The new findings are from the biomarker analysis study of the ENACT clinical trial (NCT02799745) that aimed to compare the efficacy and safety of enzalutamide monotherapy plus AS vs AS alone in patients with low-risk or intermediate-risk prostate cancer. The study included 121 AS patients from the randomized trial who were monitored and followed for 3 years. In the AS alone or control arm, among patients with available tumor samples (n=65), the Decipher Prostate test predicted increased rates of disease progression after adjusting for baseline clinical risk factors (MVA HR [95% CI] per 10% increase in score: 1.17 [1.01 to 1.35]; P = 0.04).
The findings also demonstrated the use of Decipher GRID (Genomic Resource for Intelligent Discovery) as a research tool to help advance scientific understanding of prostate cancer. Specifically, the researchers evaluated whole-transcriptome data derived from Decipher Prostate testing of each sample in the study to assess the Decipher Prostate test and other, research-based biomarkers that could potentially indicate which tumors would be more likely to respond to treatment with enzalutamide, an androgen receptor (AR) signaling inhibitor. They observed that the subset of patients with higher Decipher scores, as well as luminal and high AR activity subtypes, had greater responses to enzalutamide.
"Our Decipher GRID tool enables researchers to analyze whole-transcriptome data for prostate cancer samples to gain further insights about the disease, which can ultimately further improve patient care," said Dr. Davicioni. "This study is a strong example of the Veracyte Diagnostics Platform in action, whereby we use a comprehensive, whole-transcriptome approach to develop a test, which fuels our ability to demonstrate the test's performance and utility, and also enables new discovery efforts."

Veracyte's New Study Shows The Decipher Prostate Test Is Prognostic For Prostate Cancer Progression Among Patients Undergoing Active Surveillance

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.veracyte.com%2F&amp;esheet=53932831&amp;newsitemid=20240416752482&amp;lan=en-US&amp;anchor=Veracyte%2C+Inc&amp;index=1&amp;md5=f8020900e2043982a8fccb6ecb870ff3">Veracyte, Inc</a>. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCYT#NASDAQ">VCYT</a>), a leading cancer diagnostics company, today announced that nine abstracts focused on its Decipher Prostate and Decipher Bladder Genomic Classifiers will be presented at AUA 2024, the annual meeting of the American Urological Association, taking place May 3-6 in San Antonio. Studies to be presented include those that evaluate the clinical utility of the company's Decipher tests in guiding treatment decisions for patients with prostate or bladder cancer. Other presentations will explore new insights into these cancers' underlying biology, which researchers derived through use of Veracyte's whole-transcriptome-based Decipher GRID research tool.
"The data being presented at AUA 2024 expands the extensive clinical evidence supporting our Decipher Prostate and Decipher Bladder tests," said Elai Davicioni, Ph.D., Veracyte's medical director for Urology. "They also highlight Veracyte's commitment to collaborating with leading researchers to help understand the biological underpinnings of urologic cancers and advance the science around the disease areas we serve."
The following abstracts will be presented in the Henry B. González Convention Center:
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">Title:</td>
<td colspan="1" rowspan="1">High Decipher score defines the subgroup most at risk of metastatic progression among patients with lower grade tumors classified as NCCN high-risk based on elevated prostate-specific antigen level alone</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Presenter:</td>
<td colspan="1" rowspan="1">David Han, M.D., Columbia University Irving Medical Center</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Format:</td>
<td colspan="1" rowspan="1">Poster (MP41-14)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Date/Time:</td>
<td colspan="1" rowspan="1">Saturday, May 4, 2024 / 3:30 p.m. to 5:30 p.m. CT</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Room #:</td>
<td colspan="1" rowspan="1">304B</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Title:</td>
<td colspan="1" rowspan="1">Decipher&#xAE; Predicts Clinically Significant Upgrading on Final Radical Prostatectomy Pathology</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Presenter:</td>
<td colspan="1" rowspan="1">John Sheng, M.D., Rutgers New Jersey Medical School</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Format:</td>
<td colspan="1" rowspan="1">Poster (MP49-09)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Date/Time:</td>
<td colspan="1" rowspan="1">Sunday, May 5, 2024 / 7:00 a.m. to 9:00 a.m. CT</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Room #:</td>
<td colspan="1" rowspan="1">221B</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Title:</td>
<td colspan="1" rowspan="1">Genomic Signatures Associated with Adverse Pathologic Features at Radical Prostatectomy Among Active Surveillance Eligible Men</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Presenter:</td>
<td colspan="1" rowspan="1">Eric Li, M.D., Northwestern University</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Format:</td>
<td colspan="1" rowspan="1">Poster (MP41-09)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Date/Time:</td>
<td colspan="1" rowspan="1">Saturday, May 4, 2024 / 3:30 p.m. to 5:30 p.m. CT</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Room #:</td>
<td colspan="1" rowspan="1">304B</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Title:</td>
<td colspan="1" rowspan="1">Variation in Prostate Cancer Genomic Subtypes Across Prostate Magnetic Resonance Imaging PIRADS Scores and Race</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Presenter:</td>
<td colspan="1" rowspan="1">Nimrod Barashi Gozal, M.D., Washington University in St. Louis</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Format:</td>
<td colspan="1" rowspan="1">Podium Presentation (PD42-01)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Date/Time:</td>
<td colspan="1" rowspan="1">Sunday, May 5, 2024 / 9:30 a.m. to 9:40 a.m. CT</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Room #:</td>
<td colspan="1" rowspan="1">303A</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Title:</td>
<td colspan="1" rowspan="1">Transcriptomic Features of Clinically Localized Prostate Cancer Arising from Distinct Prostate Zonal Regions</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Presenter:</td>
<td colspan="1" rowspan="1">Ross Liao, M.D., Cleveland Clinic</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Format:</td>
<td colspan="1" rowspan="1">Poster (MP41-13)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Date/Time:</td>
<td colspan="1" rowspan="1">Saturday, May 4, 2024 / 3:30 p.m. to 5:30 p.m. CT</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Room #:</td>
<td colspan="1" rowspan="1">304B</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Title:</td>
<td colspan="1" rowspan="1">Glucagon-like peptide-1 Expression in Prostate Cancer</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Presenter:</td>
<td colspan="1" rowspan="1">Mohammed Shahait, M.D., Private Practice</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Format:</td>
<td colspan="1" rowspan="1">Poster (MP05-10)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Date/Time:</td>
<td colspan="1" rowspan="1">Friday, May 3, 2024 / 7:00 a.m. to 9:00 a.m. CT</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Room #:</td>
<td colspan="1" rowspan="1">221C</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Title:</td>
<td colspan="1" rowspan="1">Molecular subtyping for predicting non-organ confined disease and survival outcomes after radical cystectomy in clinical high-grade T1 and T2 bladder cancer patients</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Presenter:</td>
<td colspan="1" rowspan="1">Yair Lotan, M.D., UT Southwestern Medical Center</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Format:</td>
<td colspan="1" rowspan="1">Poster (MP15-07)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Date/Time:</td>
<td colspan="1" rowspan="1">Friday, May 3, 2024 / 1:00 p.m. to 3:00 p.m. CT</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Room #:</td>
<td colspan="1" rowspan="1">221C</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Title:</td>
<td colspan="1" rowspan="1">The stroma-rich consensus bladder cancer subtype correlates with improved prognosis after neoadjuvant immunotherapy and radical cystectomy</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Presenter:</td>
<td colspan="1" rowspan="1">Joep De Jong, Ph.D., Erasmus MC, The Netherlands</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Format:</td>
<td colspan="1" rowspan="1">Podium Presentation (PD14-05)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Date/Time:</td>
<td colspan="1" rowspan="1">Friday, May 3, 2024 / 4:10 p.m. to 4:20 p.m. CT</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Room #:</td>
<td colspan="1" rowspan="1">301A</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Title:</td>
<td colspan="1" rowspan="1">A lncRNA-based classifier identifies high grade T1 bladder cancer patients with excellent outcomes after radical cystectomy</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Presenter:</td>
<td colspan="1" rowspan="1">Yair Lotan, M.D., UT Southwestern Medical Center</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Format:</td>
<td colspan="1" rowspan="1">Poster (MP15-02)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Date/Time:</td>
<td colspan="1" rowspan="1">Friday, May 3, 2024 / 1:00 p.m. to 3:00 p.m. CT</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Room #:</td>
<td colspan="1" rowspan="1">221C</td>
</tr>
</tbody>
</table>
</figure>
Additional information regarding these presentations and Veracyte's participation at AUA 2024 can be found at the company's booth (#607).

Veracyte Announces 9 Abstracts Reinforcing The Value Of Decipher Prostate And Decipher Bladder Testing Will Be Presented At AUA 2024

Goldman Sachs analyst Matthew Sykes maintains Veracyte (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCYT#NASDAQ">VCYT</a>) with a Buy and lowers the price target from $32 to $28.

Goldman Sachs Maintains Buy on Veracyte, Lowers Price Target to $28

On Wednesday, Cathie Wood-led Ark Invest made a significant move by selling over $17 million worth of Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) shares. This decision came as the cryptocurrency exchange faced technical difficulties, a situation unfolding amid the soaring valuations of digital assets like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>).
The Coinbase Trade
Ark Invest sold 86,298 Coinbase shares on Wednesday through its flagship ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>). The transaction was valued at $17.33 million. For the day, Coinbase stock closed 0.8% higher at $200.80.
The sale came in the backdrop of the cryptocurrency trading platform&#8217;s outage on the same day. Coinbase experienced a <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37371833/coinbase-suffers-massive-outage-as-bitcoin-hits-64k-your-assets-are-safe">significant disruption</a> as Bitcoin reached new heights, touching $64,000. 
Coinbase CEO Brian Armstrong acknowledged a significant increase in traffic, expressing regret for any inconvenience caused to users. Despite users encountering zero balances and transaction errors, Coinbase assured the safety of their assets and reported gradual improvements in trading by Wednesday afternoon, although some issues with logging in, transactions, and payment methods persisted due to the continued high traffic volume.
This sell-off by Ark Invest follows a pattern of reducing exposure to Coinbase, as detailed in <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37355056/cathie-woods-ark-invest-sheds-9-3m-worth-of-coinbase-shares-amid-bitcoin-rally-robinhood-s">earlier coverage</a>, amidst a rallying Bitcoin. The apex cryptocurrency has experienced a nearly 45% surge this month which <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37383382/bitcoin-ethereum-dogecoin-soar-triggering-750m-in-liquidations-analyst-predicts-king-crypt">can be attributed</a> to the upcoming supply halving event.
See Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/02/37371474/why-are-arkk-investors-jumping-ship-cathie-woods-poor-picks-lag-behind-the-competition">Why Are ARKK Investors Jumping Ship? Cathie Wood&#8217;s Poor Picks Lag Behind The Competition</a>
Other Key Trades:
<ul>
<li>NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) saw a reduction in 1,235 shares by Ark, aligning with the firm&#8217;s strategy to adjust its portfolio amidst the tech sector&#8217;s volatility. The sale was made through ARK Genomic Revolution ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKG#BATS">ARKG</a>) and was valued at nearly $959,138.</li>
<li>Investments in Unity Software Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>) were increased across multiple funds, signaling a bullish stance on the gaming and software development platform.</li>
<li>Veracyte Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCYT#NASDAQ">VCYT</a>) and 10X Genomics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXG#NASDAQ">TXG</a>) purchases were notable, emphasizing Ark&#8217;s continued focus on healthcare and genomic innovation.</li>
</ul>
Image made via photos on Flickr by WEF and Shutterstock
Read Next: <a href="https://www.benzinga.com/general/education/24/02/37294405/heres-how-much-cathie-wood-ark-invest-flagship-fund-missed-by-selling-nvidia-early">Here&#8217;s How Much Cathie Wood &amp; Ark Invest Flagship Fund Missed By Selling NVIDIA Early</a>
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Cathie Wood's Ark Invest Dumps $17M In Coinbase Shares As The Exchange Grappled With Disruption Amid Bitcoin Rally

On Tuesday, Cathie Wood-led Ark Invest adjusted its portfolio, making significant trades. Among these, the firm&#8217;s decision to sell $9.3 million worth of Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) shares stood out, especially as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and other cryptocurrencies <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37354914/bitcoin-ethereum-dogecoin-continue-bull-run-as-extreme-greed-takes-over-analyst-predicts-k">continue to soar</a>.
Bitcoin hit a 27-month high of around $57,000, driving optimism fueled by investments in spot Bitcoin ETFs. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) also experienced a significant rally. Analysts predict potential corrections but foresee a bullish trajectory, with projections of the apex coin reaching $88,000 by 2024.
The Coinbase Trade
The firm sold 46,531 Coinbase shares through its flagship ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>). On Tuesday, Coinbase shares closed 2.7% higher at $199.22.
Ark Invest&#8217;s sale of Coinbase shares comes at a time when the cryptocurrency exchange is <a href="https://www.benzinga.com/markets/equities/24/02/37327326/cathie-woods-ark-invest-offloads-6-9m-worth-of-coinbase-robinhood-shares-each-amid-searing-bitco">positioned favorably</a> within the market, as highlighted in recent <a href="https://www.benzinga.com/markets/equities/24/02/37327326/cathie-woods-ark-invest-offloads-6-9m-worth-of-coinbase-robinhood-shares-each-amid-searing-bitco">Benzinga coverage</a>. Despite this, the firm offloaded a significant portion of its holdings, aligning with Cathie Wood&#8217;s earlier comments on the company being &#8220;in the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37174962/cathie-wood-says-coinbase-is-in-the-right-place-at-the-right-time-after-selling-sha">right place at the right time</a>&#8221; after a previous sale.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37193822/cathie-wood-prop-for-roku-ark-swoops-up-107-5m-worth-of-shares-after-24-plunge-but-">Cathie Wood Prop For Roku: Ark Swoops Up $107.5M Worth Of Shares After 24% Plunge But&#8230;</a>
The Robinhood Trade
On Tuesday, Ark sold 234,053 Robinhood shares through ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) and Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>). For the day, Robinhood shares closed 4.2% higher at $16.25.
A day earlier, Ark Invest sold Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) shares following the company&#8217;s Q4 earnings report, which showcased a revenue beat and a promising start to the first quarter. During that sale, a total of <a href="https://www.benzinga.com/markets/equities/24/02/37327326/cathie-woods-ark-invest-offloads-6-9m-worth-of-coinbase-robinhood-shares-each-amid-searing-bitco">$6.9 million worth of shares</a> were offloaded by Ark.
Other Key Trades:
<ul>
<li>Ark Invest increased its investment in Unity Software Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>), buying shares across multiple funds, signaling strong confidence in the company&#8217;s growth prospects.</li>
<li>The firm also showed interest in the healthcare sector, with purchases of Veracyte Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCYT#NASDAQ">VCYT</a>) and Natera Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRA#NASDAQ">NTRA</a>), underscoring a diversification strategy beyond tech and crypto.</li>
<li>Despite the bullish moves on select stocks, Ark sold off shares in Twilio Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) and Teladoc Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>), reflecting a strategic pivot or reallocation within its portfolio.</li>
</ul>
Photo courtesy: Ark Invest
Read Next: <a href="https://www.benzinga.com/markets/equities/24/02/36998382/cathie-wood-backs-tesla-despite-sharp-downturn-says-robotaxis-will-help-change-the-landscape-ent">Cathie Wood Backs Tesla Despite Sharp Downturn, Says Robotaxis Will Help Change The Landscape Entirely</a>
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Cathie Wood's Ark Invest Sheds $9.3M Worth Of Coinbase Shares Amid Bitcoin Rally — Robinhood Stock Also Sold

On Monday, Cathie Wood-led Ark Invest adjusted its portfolio, notably selling shares of cryptocurrency-related companies such as Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) and Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), amidst a significant rally in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) which <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37327136/bitcoin-hits-56k-ethereum-and-dogecoin-soar-too-as-crypto-market-cap-soars-past-2t-analyst">soared past the $56,000 mark</a>. This decision comes at a time when the cryptocurrency market cap has surged past $2 trillion, highlighting a pivotal moment for investors.
The Coinbase Trade
Ark sold a total of 35,509 Coinbase shares through its flagship ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>). The transaction was valued at $6.9 million. On Monday, Coinbase shares rallied 16.85% to $193.94 in regular trading and shot up another 1.8% in the after-hours trading.
Previously, ARK Invest CEO Wood praised Coinbase&#8217;s fourth-quarter earnings, citing its <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37174962/cathie-wood-says-coinbase-is-in-the-right-place-at-the-right-time-after-selling-sha">regulatory compliance and competitive advantage</a>. Despite earlier selling, Wall Street showed renewed interest after the earnings exceeded expectations, although Ark Invest subsequently sold a significant portion of its Coinbase holdings. She had said at the time that Coinbase was &#8220;in the right place at the right time.&#8221;
The Robinhood Trade
The firm also sold 444,853 Robinhood shares through ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) and Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>). That transaction was also valued at nearly $6.9 million. Robinhood shares closed 7.7% higher at $15.59 for the day.
Similarly, Ark Invest reduced its stake in Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), a decision that comes on the heels of Robinhood&#8217;s <a href="https://www.benzinga.com/news/earnings/24/02/37107009/robinhood-q4-earnings-highlights-revenue-beat-eps-beat-strong-start-to-q1-and-more">fourth-quarter earnings report</a>, which showcased revenue and EPS beats alongside a strong start to the first quarter.
The Nvidia Trade
Ark Invest sold 2,724 through ARK Genomic Revolution ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKG#BATS">ARKG</a>) on Monday. That transaction was valued at $2.15 million. Nvidia stock edged up 0.35% higher at $790.92 for the day.
On Monday, Wood <a href="https://www.benzinga.com/markets/equities/24/02/37326597/cathie-wood-explains-why-she-sold-nvidia-at-the-bottom-but-more-importantly-tells-why-she-purcha">defended the sale of Nvidia shares</a>, highlighting their early investment in 2014 when the company was undervalued as a PC gaming chip maker, resulting in significant profits. Despite Nvidia&#8217;s recent surge, ARK continued to sell shares, explaining that they take profits after substantial gains.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37205200/cathie-wood-says-always-surprised-at-pushback-elon-musk-gets-slams-delaware-judge-f">Cathie Wood Says Always Surprised At Pushback Elon Musk Gets, Slams Delaware Judge For…</a>
Other Key Trades:
<ul>
<li>Ark Invest increased its holdings in ROKU Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), buying additional shares across multiple funds, signaling confidence in the digital media player&#8217;s market position.</li>
<li>The firm also showed interest in the biotech sector, purchasing shares of Veracyte Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCYT#NASDAQ">VCYT</a>) and 10X Genomics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXG#NASDAQ">TXG</a>), indicating a bullish stance on genomic and diagnostic technologies.</li>
<li>Investments in Twist Bioscience Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWST#NASDAQ">TWST</a>) and Intellia Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTLA#NASDAQ">NTLA</a>) were made, underscoring Ark&#8217;s commitment to cutting-edge biotechnological research and development.</li>
</ul>
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37115720/ark-invest-ceo-cathie-wood-says-wed-be-suprised-if-sec-approves-anything-but-bitcoi">Ark Invest CEO Cathie Wood Says We&#8217;d Be Surprised If SEC Approves Anything But Bitcoin…</a>
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 <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Shivdeep Dhaliwal</a> 
 
 
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Cathie Wood's Ark Invest Offloads $6.9M Worth of Coinbase, Robinhood Shares Each Amid Searing Bitcoin Rally — Nvidia Stock Also Shed

Morgan Stanley analyst Tejas Savant maintains Veracyte (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCYT#NASDAQ">VCYT</a>) with a Underweight and lowers the price target from $22 to $21.

Morgan Stanley Maintains Underweight on Veracyte, Lowers Price Target to $21

Needham analyst Mike Matson maintains Veracyte (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCYT#NASDAQ">VCYT</a>) with a Buy and raises the price target from $30 to $33.

Needham Maintains Buy on Veracyte, Raises Price Target to $33

Veracyte Sees FY24 Revenue $394M-$402M Vs $393.285M Est.

Veracyte (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCYT#NASDAQ">VCYT</a>) reported its Q4 earnings results on Thursday, February 22, 2024 at 04:05 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Veracyte beat estimated earnings by 155.56%, reporting an EPS of $0.05 versus an estimate of $-0.09.
Revenue was up $17.90 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.22 which was followed by a 3.58% drop in the share price the next day.
Here's a look at Veracyte's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.15</td>
<td>-0.14</td>
<td>-0.13</td>
<td>-0.15</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.07</td>
<td>-0.12</td>
<td>-0.11</td>
<td>-0.05</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>84.38M</td>
<td>74.66M</td>
<td>75.81M</td>
<td>74.91M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>90.11M</td>
<td>90.32M</td>
<td>82.42M</td>
<td>80.30M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Veracyte <a href="https://www.benzinga.com/quote/VCYT/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Recap: Veracyte Q4 Earnings

Veracyte (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCYT#NASDAQ">VCYT</a>) reported quarterly earnings of $0.05 per share which beat the analyst consensus estimate of $(0.09) by 155.56 percent. The company reported quarterly sales of $98.20 million which beat the analyst consensus estimate of $91.96 million by 6.78 percent. This is a 22.29 percent increase over sales of $80.30 million the same period last year.

Veracyte Q4 2023 Adj EPS $0.05 Beats $(0.09) Estimate, Sales $98.20M Beat $91.96M Estimate

Veracyte, Inc. 2024 Q1 - Results - Earnings Call Presentation

CRUS, ZI and VCYT are among after hour movers

Veracyte, Inc. (VCYT) Q1 2024 Earnings Call Transcript

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Veracyte (NASDAQ:<a href="https://investorplace.com/stock-quotes/vcyt-stock-quote/">VCYT</a>) just reported results for the first quarter of 2024.<ul><li>Veracyte reported earnings per share of -2 cents. This was above the analyst estimate for EPS of -17 cents.</li><li>The company reported revenue of $96.84 million.</li><li>This was 3.72% better than the analyst estimate for revenue of $93.37 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/05/vcyt-stock-earnings-veracyte-for-q1-of-2024/">VCYT Stock Earnings: Veracyte Beats EPS, Beats Revenue for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

VCYT Stock Earnings: Veracyte Beats EPS, Beats Revenue for Q1 2024

Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Adaptive Biotechnologies (ADPT – Research Report),...

Analysts Offer Insights on Healthcare Companies: Adaptive Biotechnologies (ADPT), Veracyte (VCYT) and Nevro Corp (NVRO)


Josh GottheimerHouse (D-NJ)	$1K - $15K	Purchase	Nov 11, 2023	Oct 16, 2023	House
Josh GottheimerHouse (D-NJ)	$1K - $15K	Sale (Partial)	Oct 15, 2023	Sep 15, 2023	House
Daniel GoldmanHouse (D-NY)	$1K - $15K	Sale	May 19, 2023	Apr 10, 2023	House

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Veracyte Inc

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