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

Charles Schwab Investment Management Inc. trimmed its position in Veracyte, Inc. (NASDAQ:VCYT) by 3.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 735,007 shares of the biotechnology company’s stock after selling 27,090 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.96% of Veracyte worth $25,020,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Blue Trust Inc. increased its stake in Veracyte by 2,331.6% during the 2nd quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock worth $31,000 after buying an additional 1,329 shares during the period. CWM LLC boosted its stake in Veracyte by 168.3% during the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 951 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Veracyte in the 2nd quarter worth $58,000. Signature Resources Capital Management LLC acquired a new stake in shares of Veracyte in the 2nd quarter worth $83,000. Finally, nVerses Capital LLC purchased a new position in shares of Veracyte in the 2nd quarter valued at about $85,000.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on VCYT shares. Needham & Company LLC raised their target price on shares of Veracyte from $37.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Guggenheim started coverage on shares of Veracyte in a report on Thursday, October 10th. They set a “buy” rating and a $40.00 target price for the company. Wolfe Research assumed coverage on shares of Veracyte in a report on Friday, November 15th. They set an “outperform” rating and a $50.00 price target for the company. Scotiabank raised their target price on shares of Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $37.00 target price (down from $38.00) on shares of Veracyte in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $41.13.

Veracyte Trading Down 2.8 %

NASDAQ VCYT opened at $42.84 on Friday. The company’s fifty day simple moving average is $36.50 and its 200-day simple moving average is $29.56. Veracyte, Inc. has a 52 week low of $18.61 and a 52 week high of $44.50. The stock has a market cap of $3.32 billion, a P/E ratio of -285.60 and a beta of 1.69.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.16. The business had revenue of $115.86 million for the quarter, compared to analysts’ expectations of $109.81 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The business’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) earnings per share. On average, research analysts expect that Veracyte, Inc. will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Evan/ Fa Jones sold 5,173 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $35.23, for a total value of $182,244.79. Following the sale, the director now owns 34,343 shares of the company’s stock, valued at $1,209,903.89. This trade represents a 13.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rebecca Chambers sold 7,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $43.23, for a total transaction of $302,610.00. Following the completion of the sale, the chief financial officer now directly owns 114,037 shares in the company, valued at approximately $4,929,819.51. This trade represents a 5.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,211 shares of company stock worth $787,542. Insiders own 1.30% of the company’s stock.

About Veracyte

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.