Veracyte Inc Down 6.70% To $22.71 After Earnings Beat

Veracyte Inc (VCYT) said after close Thursday that it earned $0.05 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $98.2 million, beating estimates by $6.2 million.

In the same quarter a year ago, the company lost $0.05 per share on revenue of $80.3 million.

The stock is down 6.70% to $22.71 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Veracyte Inc has performed a little below average during the past few months. Before the report, Veracyte Inc received a Long-Term Technical Rank by InvestorsObserver of 45, putting it in the bottom half of stocks. The firm set a 52-week low on October 27, 2023 at $19.52 and set a 52-week high on July 18, 2023 at $30.52.

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. The company derives its revenues from the Sale of Afirma analysis product.