Dark Forest Capital Management LP Invests $845,000 in Veracyte, Inc. (NASDAQ:VCYT)

Dark Forest Capital Management LP purchased a new stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 21,337 shares of the biotechnology company's stock, valued at approximately $845,000.

Other large investors also recently bought and sold shares of the company. Silverarc Capital Management LLC lifted its holdings in shares of Veracyte by 7.0% during the 4th quarter. Silverarc Capital Management LLC now owns 503,281 shares of the biotechnology company's stock valued at $19,930,000 after buying an additional 32,716 shares during the period. Hsbc Holdings PLC boosted its position in Veracyte by 14.5% in the fourth quarter. Hsbc Holdings PLC now owns 11,084 shares of the biotechnology company's stock worth $444,000 after purchasing an additional 1,406 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Veracyte by 201.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,465 shares of the biotechnology company's stock valued at $216,000 after purchasing an additional 3,650 shares during the period. MetLife Investment Management LLC increased its position in shares of Veracyte by 7.0% during the 4th quarter. MetLife Investment Management LLC now owns 46,945 shares of the biotechnology company's stock valued at $1,859,000 after purchasing an additional 3,078 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Veracyte in the 4th quarter worth approximately $152,000.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VCYT. Craig Hallum started coverage on shares of Veracyte in a research note on Thursday, March 20th. They set a "buy" rating and a $45.00 price target on the stock. Needham & Company LLC reiterated a "buy" rating and set a $51.00 target price on shares of Veracyte in a research report on Tuesday, February 25th. Stephens restated an "overweight" rating and issued a $45.00 price target on shares of Veracyte in a research report on Wednesday, March 26th. StockNews.com cut Veracyte from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, UBS Group lifted their price target on shares of Veracyte from $46.00 to $49.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Veracyte presently has a consensus rating of "Moderate Buy" and an average target price of $42.60.

Veracyte Stock Down 1.7 %

Shares of VCYT traded down $0.56 during mid-day trading on Monday, reaching $31.67. The company had a trading volume of 714,024 shares, compared to its average volume of 862,718. The stock has a market capitalization of $2.47 billion, a P/E ratio of -211.13 and a beta of 2.03. Veracyte, Inc. has a 52-week low of $19.48 and a 52-week high of $47.32. The stock has a 50 day moving average of $32.25 and a two-hundred day moving average of $37.36.

Veracyte (NASDAQ:VCYT - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.07. The business had revenue of $118.63 million during the quarter, compared to the consensus estimate of $110.73 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. During the same quarter in the prior year, the firm posted ($0.39) earnings per share. On average, sell-side analysts expect that Veracyte, Inc. will post 0.68 earnings per share for the current 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.