Veracyte, Inc. (NASDAQ:VCYT) is Silverarc Capital Management LLC's 6th Largest Position

Silverarc Capital Management LLC boosted its stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 7.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 503,281 shares of the biotechnology company's stock after purchasing an additional 32,716 shares during the period. Veracyte makes up approximately 4.4% of Silverarc Capital Management LLC's portfolio, making the stock its 6th biggest holding. Silverarc Capital Management LLC owned 0.65% of Veracyte worth $19,930,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of VCYT. Barclays PLC raised its position in shares of Veracyte by 138.6% in the third quarter. Barclays PLC now owns 146,402 shares of the biotechnology company's stock worth $4,983,000 after acquiring an additional 85,033 shares during the period. Synovus Financial Corp grew its stake in Veracyte by 16.2% during the 3rd quarter. Synovus Financial Corp now owns 22,865 shares of the biotechnology company's stock valued at $778,000 after acquiring an additional 3,195 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Veracyte in the third quarter valued at approximately $9,498,000. Nordea Investment Management AB increased its stake in shares of Veracyte by 4.4% in the 4th quarter. Nordea Investment Management AB now owns 261,214 shares of the biotechnology company's stock worth $10,415,000 after acquiring an additional 11,078 shares during the last quarter. Finally, Avanza Fonder AB purchased a new position in Veracyte during the fourth quarter worth about $1,379,000.

Veracyte Stock Performance

Shares of NASDAQ:VCYT traded up $0.09 during trading on Friday, hitting $32.23. The company's stock had a trading volume of 478,110 shares, compared to its average volume of 862,345. Veracyte, Inc. has a fifty-two week low of $19.16 and a fifty-two week high of $47.32. The business has a 50 day moving average price of $32.41 and a two-hundred day moving average price of $37.29. The company has a market capitalization of $2.51 billion, a PE ratio of -214.87 and a beta of 2.03.

Veracyte (NASDAQ:VCYT - Get Free Report) last released its earnings results on Monday, February 24th. The biotechnology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. The firm had revenue of $118.63 million during the quarter, compared to analysts' expectations 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 previous year, the firm posted ($0.39) EPS. As a group, equities analysts expect that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. UBS Group increased their price objective on Veracyte from $46.00 to $49.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Needham & Company LLC reiterated a "buy" rating and set a $51.00 price target on shares of Veracyte in a report on Tuesday, February 25th. Craig Hallum assumed coverage on shares of Veracyte in a report on Thursday, March 20th. They issued a "buy" rating and a $45.00 price objective on the stock. Stephens reaffirmed an "overweight" rating and issued a $45.00 target price on shares of Veracyte in a research report on Wednesday, March 26th. Finally, Guggenheim dropped their price target on shares of Veracyte from $45.00 to $37.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Veracyte currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.60.

Veracyte 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.