Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its position in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 720,969 shares of the biotechnology company's stock after selling 14,038 shares during the period. Charles Schwab Investment Management Inc. owned 0.93% of Veracyte worth $28,550,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Plato Investment Management Ltd raised its holdings in Veracyte by 432.7% during the fourth quarter. Plato Investment Management Ltd now owns 4,816 shares of the biotechnology company's stock worth $191,000 after purchasing an additional 3,912 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Veracyte by 49.7% in the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock valued at $28,000 after buying an additional 237 shares during the last quarter. US Bancorp DE grew its position in shares of Veracyte by 57.4% in the fourth quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company's stock valued at $70,000 after purchasing an additional 647 shares during the period. QRG Capital Management Inc. grew its holdings in Veracyte by 3.6% in the 4th quarter. QRG Capital Management Inc. now owns 139,650 shares of the biotechnology company's stock valued at $5,530,000 after buying an additional 4,834 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in Veracyte during the fourth quarter worth approximately $1,179,000.

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Insider Activity at Veracyte

In other news, Director Karin Eastham sold 10,000 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total value of $403,000.00. Following the completion of the sale, the director now owns 18,497 shares of the company's stock, valued at approximately $745,429.10. The trade was a 35.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VCYT. Needham & Company LLC reaffirmed a "buy" rating and issued a $51.00 price objective on shares of Veracyte in a research note on Tuesday, February 25th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $37.00 price target (down from $38.00) on shares of Veracyte in a research report on Thursday, December 5th. UBS Group increased their price objective on shares of Veracyte from $46.00 to $49.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Guggenheim restated a "buy" rating and set a $45.00 target price on shares of Veracyte in a report on Tuesday, February 25th. Finally, Craig Hallum began coverage on Veracyte in a report on Thursday. They issued a "buy" rating and a $45.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.22.

Veracyte Stock Performance

Shares of NASDAQ:VCYT traded up $0.01 during trading on Friday, hitting $31.85. The company's stock had a trading volume of 684,550 shares, compared to its average volume of 807,713. The company has a market capitalization of $2.48 billion, a PE ratio of -212.30 and a beta of 1.80. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $47.32. The stock's 50-day moving average price is $38.72 and its two-hundred day moving average price is $37.61.

Veracyte (NASDAQ:VCYT - Get Free Report) last announced its earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.07. The company had revenue of $118.63 million for the quarter, compared to analyst estimates of $110.73 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. During the same period in the prior year, the company posted ($0.39) EPS. On average, equities analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Veracyte Company Profile

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm's portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.