Veracyte Inc Stock Research

Market Summary

USD20.58-1.33

Market Closed

-6.07%

VCYT Alerts

2 major insider sales recently.
Big jump in Earnings (Y/Y)
Losses in recent quarter

VCYT Stock Price

VCYT RSI Chart

VCYT Valuation

Market Cap

1.5B

Price/Earnings (Trailing)

-40.51

Price/Sales (Trailing)

4.99

EV/EBITDA

-126.73

Price/Free Cashflow

-1.5K

VCYT Price/Sales (Trailing)

VCYT Profitability

EBT Margin

-12.28%

Return on Equity

-3.4%

Return on Assets

-3.16%

Free Cashflow Yield

-0.07%

VCYT Fundamentals

VCYT Revenue

Revenue (TTM)

296.5M

Revenue Y/Y

19.25%

Revenue Q/Q

6.22%

VCYT Earnings

Earnings (TTM)

-36.6M

Earnings Y/Y

63.49%

Earnings Q/Q

55.93%

Price Action

52 Week Range

14.8531.36

(Low)(High)

Last 7 days

-11.5%

Last 30 days

-13.5%

Last 90 days

-12.1%

Trailing 12 Months

-26.0%

VCYT Financial Health

Current Ratio

3.97

VCYT Investor Care

Shares Dilution (1Y)

1.18%

Diluted EPS (TTM)

-0.51

Peers (Alternatives to Veracyte)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
ABBV	280.3B	58.1B	3.63%	0.47%	23.68	4.83	3.30%	2.55%
REGN	88.4B	12.2B	9.24%	19.26%	20.38	7.26	-24.26%	-46.28%
VRTX	80.5B	8.9B	9.01%	22.50%	24.24	9.01	17.91%	41.84%
INCY	15.7B	3.4B	-8.71%	-10.94%	45.97	4.61	13.67%	-64.09%
MID-CAP
NTRA	6.0B	820.2M	13.45%	34.53%	-11	7.34	31.13%	-16.13%
ARWR	2.6B	278.3M	-25.65%	-45.82%	-16.66	9.25	92.72%	15.56%
SMALL-CAP
VCYT	1.5B	296.5M	-13.46%	-26.05%	-40.51	4.99	35.09%	51.62%
CSTL	589.5M	137.0M	-8.87%	-47.72%	-8.78	4.3	45.65%	-114.55%
CDNA	472.7M	321.8M	-38.89%	-76.73%	-6.17	1.47	8.57%	-149.86%
NVTA	294.7M	516.3M	-38.46%	-85.15%	-0.09	0.57	12.13%	-719.59%
ORGO	252.0M	450.9M	-19.46%	-73.63%	16.23	0.56	-3.52%	-83.51%
CELC	155.1M	-	-11.28%	26.74%	-4.36	-	-	-39.92%
OPGN	3.5M	3.3M	41.75%	90.10%	-0.11	1.07	-21.77%	4.40%

Financials for Veracyte

Income Statement (Last 12 Months)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	4.6%	296,536,000	283,575,000	268,353,000	250,594,000	219,514,000
S&GA Expenses	2.0%	97,560,000	95,645,000	91,637,000	87,298,000	79,840,000
R&D Expenses	2.6%	40,603,000	39,568,000	36,801,000	33,673,000	29,843,000
Costs and Expenses	1.8%	337,617,000	331,569,000	323,348,000	302,330,000	301,417,000
EBITDA	43.5%	-10,463,000	-18,527,000	-25,423,000	-26,846,000	-
EBITDA Margin	46.0%	-0.04	-0.07	-0.09	-0.11	-
Earnings Before Taxes	17.8%	-36,400,000	-44,303,000	-50,907,000	-50,450,000	-81,649,000
EBT Margin	21.4%	-0.12	-0.16	-0.19	-0.20	-
Interest Expenses	Infinity%	9,000	0.00	0.00	63,000	9,000
Net Income	15.5%	-36,560,000	-43,244,000	-48,650,000	-48,156,000	-75,563,000
Net Income Margin	19.2%	-0.12	-0.15	-0.18	-0.19	-
Free Cahsflow	20.8%	-1,014,000	-1,281,000	-9,798,000	-6,565,000	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	2.7%	1,156	1,126	1,144	1,174	1,188
Current Assets	4.2%	249	239	235	238	243
Cash Equivalents	-8.9%	155	170	153	164	173
Inventory	3.6%	14.00	14.00	15.00	12.00	11.00
Goodwill	2.8%	696	677	690	704	708
Liabilities	4.4%	81.00	78.00	80.00	88.00	91.00
Current Liabilities	7.3%	63.00	58.00	59.00	63.00	64.00
LT Debt, Current	-100.0%	-	1.00	1.00	1.00	1.00
LT Debt, Non Current	-	-	-	-	-	-
Shareholder's Equity	2.6%	1,075	1,048	1,064	1,085	1,097
Retained Earnings	-1.0%	-393	-389	-381	-371	-357
Additional Paid-In Capital	0.5%	1,500	1,492	1,483	1,477	1,469
Accumulated Depreciation	-	21.00	-	-	-	-
Shares Outstanding	0.3%	72.00	72.00	72.00	71.00	71.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	20.8%	8.00	6.00	-2.18	0.00	-31.62
Share Based Compensation	0.5%	27.00	27.00	27.00	25.00	23.00
Cashflow From Investing	-1044.4%	-29.39	-2.57	-176	-166	-739
Cashflow From Financing	-2.2%	3.00	4.00	5.00	7.00	596

Risks for VCYT

What is the probability of a big loss on VCYT?

100%

Probability that Veracyte stock will be more than 20% underwater in next one year

70.4%

Probability that Veracyte stock will be more than 30% underwater in next one year.

48.1%

Probability that Veracyte stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does VCYT drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Veracyte was unfortunately bought at previous high price.

Drawdowns

Returns for VCYT

Cumulative Returns on VCYT

21.1%

7-Year Cumulative Returns

29.9%

5-Year Cumulative Returns

-3.9%

3-Year Cumulative Returns

What are the long-term rolling returns for VCYT?

FIve years rolling returns for Veracyte.

Annualized Returns

Which funds bought or sold VCYT recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-23	MetLife Investment Management, LLC	unchanged	-	270,584	900,554	0.01%
2023-03-17	American Portfolios Advisors	added	0.59	-28,064	146,379	0.01%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	sold off	-100	-729,000	-	-%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-83.58	-5,000	1,000	-%
2023-02-28	Voya Investment Management LLC	reduced	-82.58	-1,965,230	651,768	-%
2023-02-24	SRS Capital Advisors, Inc.	new	-	570	570	-%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	new	-	515,000	515,000	-%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	added	0.2	6,778	23,778	-%
2023-02-21	MACQUARIE GROUP LTD	sold off	-100	-4,350,000	-	-%
2023-02-16	HARBOUR INVESTMENTS, INC.	unchanged	-	871	2,871	-%

Latest Funds Activity

Are funds buying VCYT calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own VCYT

No. of Funds

Veracyte News

Schedule 13G FIlings of Veracyte

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	william blair investment management, llc	0.8%	558,384	SC 13G/A
Feb 09, 2023	vanguard group inc	9.55%	6,852,657	SC 13G/A
Feb 06, 2023	state street corp	5.80%	4,159,331	SC 13G
Feb 06, 2023	wellington management group llp	9.25%	6,636,543	SC 13G/A
Jan 25, 2023	blackrock inc.	9.1%	6,534,569	SC 13G/A
Feb 14, 2022	nikko asset management americas, inc.	4.39%	3,121,103	SC 13G/A
Feb 10, 2022	invesco ltd.	5.8%	4,114,031	SC 13G/A
Feb 09, 2022	ark investment management llc	11.57%	8,222,281	SC 13G/A
Feb 04, 2022	artisan partners limited partnership	7.0%	4,956,409	SC 13G/A
Feb 04, 2022	wellington management group llp	7.15%	5,078,827	SC 13G

VCYT Fair Value

Veracyte fair value in different scenarios

The table shows the Fair Value estimates for Veracyte for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	4.49 -78.18%	5.39 -73.81%	7.74 -62.39%	10.91 -46.99%	21.36 3.79%
Current Inflation	4.43 -78.47%	5.23 -74.59%	7.28 -64.63%	10.00 -51.41%	18.93 -8.02%
Very High Inflation	4.35 -78.86%	5.04 -75.51%	6.73 -67.30%	8.94 -56.56%	16.11 -21.72%

Historical Veracyte Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Veracyte

View All Filings

Date Filed	Form Type	Document
Mar 17, 2023	4	Insider Trading
Mar 16, 2023	4	Insider Trading
Mar 15, 2023	144	Notice of Insider Sale Intent
Mar 09, 2023	4	Insider Trading
Mar 09, 2023	4	Insider Trading
Mar 09, 2023	4	Insider Trading
Mar 09, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading

Latest Insider Trading transactions for VCYT

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-16	EASTHAM KARIN	acquired	227,250	12.12	18,750	-
2023-03-16	EASTHAM KARIN	sold	-427,044	22.7757	-18,750	-
2023-03-15	Anderson Bonnie H	acquired	190,740	5.61	34,000	-
2023-03-15	Anderson Bonnie H	sold	-773,888	22.7614	-34,000	-
2023-03-06	Stapley Marc	acquired	-	-	78,044	chief executive officer
2023-03-06	Chambers Rebecca	acquired	-	-	26,014	chief financial officer
2023-03-06	McGuire Annie	acquired	-	-	23,413	svp, general counsel
2023-03-06	Wygant Jonathan	acquired	-	-	8,868	vp, chief accounting officer
2023-03-02	Wygant Jonathan	sold (taxes)	-29,498	24.1	-1,224	vp, chief accounting officer
2023-03-02	Chambers Rebecca	sold (taxes)	-65,696	24.1	-2,726	chief financial officer

About Veracyte

VCYT Income Statement

2022-12-31

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue:
Total revenue	$ 296,536,000	$ 219,514,000	$ 117,483,000
Operating expenses:
Research and development	40,603,000	29,843,000	17,204,000
Selling and marketing	97,560,000	79,840,000	52,389,000
General and administrative	76,518,000	101,353,000	36,729,000
Intangible asset amortization	21,354,000	15,981,000	5,095,000
Total operating expenses	337,617,000	301,417,000	152,872,000
Loss from operations	(41,081,000)	(81,903,000)	(35,389,000)
Other income, net	4,654,000	254,000	480,000
Loss before income tax benefit	(36,427,000)	(81,649,000)	(34,909,000)
Income tax provision (benefit)	133,000	(6,086,000)	0
Net loss	$ (36,560,000)	$ (75,563,000)	$ (34,909,000)
Net loss per common share, basic (in USD per share)	$ (0.51)	$ (1.11)	$ (0.66)
Net loss per common share, diluted (in USD per share)	$ (0.51)	$ (1.11)	$ (0.66)
Shares use to compute net loss per common share, basic (in shares)	71,549,204	67,890,328	53,239,231
Shares use to compute net loss per common share, diluted (in shares)	71,549,204	67,890,328	53,239,231
Testing revenue
Revenue:
Total revenue	$ 250,544,000	$ 188,182,000	$ 101,970,000
Operating expenses:
Cost of revenue	75,317,000	58,860,000	35,913,000
Product revenue
Revenue:
Total revenue	12,632,000	11,464,000	9,845,000
Operating expenses:
Cost of revenue	7,820,000	5,887,000	4,921,000
Biopharmaceutical and other revenue
Revenue:
Total revenue	33,360,000	19,868,000	5,668,000
Operating expenses:
Cost of revenue	$ 18,445,000	$ 9,653,000	$ 621,000

VCYT Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 154,247	$ 173,197
Short-term investments	24,605	3,964
Accounts receivable	44,021	41,461
Supplies and inventory	14,294	11,225
Prepaid expenses and other current assets	11,469	13,255
Total current assets	248,636	243,102
Property and equipment, net	17,702	15,098
Right-of-use assets - operating leases	13,160	16,043
Intangible assets, net	174,866	202,731
Goodwill	695,891	707,904
Restricted cash	749	749
Other assets	5,418	2,198
Total assets	1,156,422	1,187,825
Current liabilities:
Accounts payable	11,911	12,360
Accrued liabilities	37,774	39,475
Current portion of long-term debt	0	1,127
Current portion of deferred revenue	2,613	4,646
Current portion of acquisition-related contingent consideration	6,060	2,682
Current portion of operating lease liabilities	4,070	3,630
Current portion of other liabilities	186	231
Total current liabilities	62,614	64,151
Deferred revenue, net of current portion	0	343
Deferred tax liability	4,531	5,592
Acquisition-related contingent consideration, net of current portion	2,498	5,722
Operating lease liabilities, net of current portion	10,648	14,096
Other liabilities	931	1,407
Total liabilities	81,222	91,311
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.001 par value; 5,000,000 shares authorized, no shares issued and outstanding as of December 31, 2022 and 2021	0	0
Common stock, $0.001 par value; 125,000,000 shares authorized, 71,959,454 and 71,123,108 shares issued and outstanding as of December 31, 2022 and 2021, respectively	72	71
Additional paid-in capital	1,500,191	1,468,683
Accumulated deficit	(393,717)	(357,157)
Accumulated other comprehensive loss	(31,346)	(15,083)
Total stockholders' equity	1,075,200	1,096,514
Total liabilities and stockholders' equity	$ 1,156,422	$ 1,187,825