Nicholas Investment Partners LP cut its stake in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 13.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 207,906 shares of the medical research company’s stock after selling 31,067 shares during the quarter. EXACT Sciences accounts for about 0.7% of Nicholas Investment Partners LP’s investment portfolio, making the stock its 19th largest holding. Nicholas Investment Partners LP owned approximately 0.17% of EXACT Sciences worth $10,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of EXAS. C M Bidwell & Associates Ltd. bought a new position in EXACT Sciences during the 4th quarter valued at approximately $117,000. Crow Point Partners LLC bought a new position in EXACT Sciences during the 4th quarter valued at approximately $145,000. Oppenheimer Asset Management Inc. raised its position in EXACT Sciences by 2,925.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 3,177 shares of the medical research company’s stock valued at $150,000 after purchasing an additional 3,072 shares during the last quarter. Advisory Services Network LLC raised its position in EXACT Sciences by 6,600.0% during the 4th quarter. Advisory Services Network LLC now owns 3,350 shares of the medical research company’s stock valued at $176,000 after purchasing an additional 3,300 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in EXACT Sciences during the 3rd quarter valued at approximately $183,000. Institutional investors own 82.05% of the company’s stock.
In related news, insider Kevin T. Conroy sold 125,402 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $52.79, for a total transaction of $6,619,971.58. Following the completion of the transaction, the insider now owns 955,454 shares of the company’s stock, valued at approximately $50,438,416.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP D Scott Coward sold 1,665 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $52.54, for a total value of $87,479.10. Following the transaction, the senior vice president now directly owns 37,558 shares of the company’s stock, valued at approximately $1,973,297.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 573,050 shares of company stock valued at $28,372,929. 4.00% of the stock is owned by corporate insiders.
Shares of EXACT Sciences Co. (NASDAQ:EXAS) traded up $0.21 during trading hours on Wednesday, hitting $52.76. The stock had a trading volume of 1,480,000 shares, compared to its average volume of 2,690,000. EXACT Sciences Co. has a 12-month low of $19.91 and a 12-month high of $63.60. The company has a market cap of $6,320.00, a price-to-earnings ratio of -25.86 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.15 and a quick ratio of 6.77.
EXACT Sciences (NASDAQ:EXAS) last announced its earnings results on Thursday, February 22nd. The medical research company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.09. EXACT Sciences had a negative return on equity of 24.13% and a negative net margin of 43.01%. The firm had revenue of $87.41 million during the quarter, compared to analyst estimates of $87.42 million. During the same quarter in the prior year, the company earned ($0.34) EPS. The business’s revenue was up 148.0% compared to the same quarter last year. analysts forecast that EXACT Sciences Co. will post -0.84 earnings per share for the current fiscal year.
A number of research analysts have commented on EXAS shares. Leerink Swann set a $67.00 price target on EXACT Sciences and gave the company a “buy” rating in a research report on Friday, February 9th. BidaskClub lowered EXACT Sciences from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 6th. Bank of America upped their price target on EXACT Sciences from $58.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, November 29th. Benchmark set a $65.00 price target on EXACT Sciences and gave the company a “buy” rating in a research report on Wednesday, January 17th. Finally, Zacks Investment Research raised EXACT Sciences from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $52.84.
EXACT Sciences Company Profile
Exact Sciences Corporation is a molecular diagnostics company. The Company focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer. Its Cologuard test is a stool-based deoxyribonucleic acid (sDNA) screening test, which utilizes a multi-target approach to detect deoxyribonucleic acid (DNA) and hemoglobin biomarkers associated with colorectal cancer and pre-cancer.
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