Dark Forest Capital Management LP Buys Shares of 21,337 Veracyte, Inc. (NASDAQ:VCYT)

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VCYT. Jones Financial Companies Lllp lifted its position in Veracyte by 49.7% in the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 237 shares in the last quarter. US Bancorp DE raised its position in Veracyte by 57.4% in the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company's stock worth $70,000 after buying an additional 647 shares during the last quarter. Principal Securities Inc. lifted its stake in Veracyte by 34.1% during the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company's stock valued at $76,000 after acquiring an additional 485 shares during the period. Venturi Wealth Management LLC purchased a new stake in shares of Veracyte during the 4th quarter valued at about $91,000. Finally, Sterling Capital Management LLC raised its holdings in shares of Veracyte by 810.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,421 shares of the biotechnology company's stock valued at $96,000 after purchasing an additional 2,155 shares during the last quarter.

Veracyte Stock Up 0.0 %

VCYT stock traded up $0.00 during mid-day trading on Tuesday, hitting $31.67. The company had a trading volume of 205,317 shares, compared to its average volume of 860,151. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of -210.84 and a beta of 2.03. The company has a 50-day moving average price of $32.04 and a 200 day moving average price of $37.34. Veracyte, Inc. has a 12-month low of $19.48 and a 12-month high of $47.32.

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

Analyst Upgrades and Downgrades

VCYT has been the subject of a number of research analyst reports. Guggenheim cut their target price 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. Craig Hallum assumed coverage on Veracyte in a research report on Thursday, March 20th. They issued a "buy" rating and a $45.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $51.00 price objective on shares of Veracyte in a research note on Tuesday, February 25th. Stephens reaffirmed an "overweight" rating and set a $45.00 target price on shares of Veracyte in a report on Wednesday, March 26th. Finally, StockNews.com cut shares of Veracyte from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Veracyte presently has a consensus rating of "Moderate Buy" and an average 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.