Silverarc Capital Management LLC Has $19.93 Million Stock Holdings in Veracyte, Inc. (NASDAQ:VCYT)

Silverarc Capital Management LLC grew its position in Veracyte, Inc. (NASDAQ:VCYT) by 7.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 503,281 shares of the biotechnology company’s stock after purchasing an additional 32,716 shares during the period. Veracyte accounts for about 4.4% of Silverarc Capital Management LLC’s portfolio, making the stock its 6th biggest position. Silverarc Capital Management LLC’s holdings in Veracyte were worth $19,930,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Ieq Capital LLC purchased a new position in Veracyte during the 4th quarter worth $580,000. Barclays PLC raised its position in shares of Veracyte by 138.6% in the 3rd quarter. Barclays PLC now owns 146,402 shares of the biotechnology company’s stock valued at $4,983,000 after purchasing an additional 85,033 shares during the last quarter. Jennison Associates LLC boosted its stake in Veracyte by 116.3% in the 4th quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company’s stock worth $33,017,000 after purchasing an additional 448,251 shares in the last quarter. KBC Group NV grew its position in Veracyte by 44.6% during the 4th quarter. KBC Group NV now owns 3,872 shares of the biotechnology company’s stock worth $153,000 after purchasing an additional 1,195 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Veracyte during the 4th quarter valued at approximately $1,179,000.

Veracyte Stock Down 1.7 %

VCYT opened at $30.60 on Tuesday. Veracyte, Inc. has a twelve month low of $19.09 and a twelve month high of $47.32. The company has a market cap of $2.39 billion, a PE ratio of -204.00 and a beta of 2.03. The company has a 50-day moving average price of $32.95 and a 200 day moving average price of $37.39.

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

Analyst Ratings Changes

VCYT has been the topic of a number of research analyst reports. UBS Group boosted their price objective on shares of Veracyte from $46.00 to $49.00 and gave the company a “buy” rating in a 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 research note on Tuesday, February 25th. Stephens restated an “overweight” rating and issued a $45.00 price objective on shares of Veracyte in a research note on Wednesday, March 26th. Craig Hallum began 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. Finally, StockNews.com lowered shares of Veracyte from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.60.

About Veracyte

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.