Charles Schwab Investment Management Inc. Has $21.96 Million Stake in Veracyte, Inc. $VCYT

Charles Schwab Investment Management Inc. increased its holdings in Veracyte, Inc. (NASDAQ:VCYT) by 2.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 740,631 shares of the biotechnology company’s stock after acquiring an additional 19,662 shares during the period. Charles Schwab Investment Management Inc. owned about 0.95% of Veracyte worth $21,960,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Veracyte by 54.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,538 shares of the biotechnology company’s stock worth $400,000 after acquiring an additional 4,792 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Veracyte by 122.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,199 shares of the biotechnology company’s stock worth $540,000 after acquiring an additional 10,022 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Veracyte by 2.0% in the 1st quarter. Bank of New York Mellon Corp now owns 248,224 shares of the biotechnology company’s stock worth $7,360,000 after acquiring an additional 4,772 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Veracyte by 9.5% in the 1st quarter. Principal Financial Group Inc. now owns 35,663 shares of the biotechnology company’s stock worth $1,057,000 after acquiring an additional 3,103 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in shares of Veracyte in the 4th quarter worth about $693,000.

Veracyte Trading Down 0.2%

Shares of VCYT opened at $29.43 on Friday. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 89.18 and a beta of 1.97. The stock has a 50 day moving average of $26.51 and a 200 day moving average of $30.15. Veracyte, Inc. has a 12 month low of $22.61 and a 12 month high of $47.32.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on VCYT shares. Needham & Company LLC cut their price objective on shares of Veracyte from $51.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Morgan Stanley set a $28.00 price objective on shares of Veracyte and gave the stock an “underweight” rating in a report on Friday, August 8th. Wall Street Zen raised shares of Veracyte from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Finally, UBS Group reduced their price objective on shares of Veracyte from $49.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Veracyte currently has an average rating of “Moderate Buy” and a consensus target price of $40.90.

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.