Rhumbline Advisers reduced its stake in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 13.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 121,852 shares of the medical research company’s stock after selling 19,115 shares during the quarter. Rhumbline Advisers owned approximately 0.10% of EXACT Sciences worth $6,402,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in EXACT Sciences by 82.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,189,560 shares of the medical research company’s stock valued at $62,499,000 after acquiring an additional 539,160 shares during the period. Emerald Advisers Inc. PA bought a new position in shares of EXACT Sciences in the 4th quarter worth approximately $21,813,000. Hodges Capital Management Inc. bought a new position in shares of EXACT Sciences in the 3rd quarter worth approximately $18,771,000. Jennison Associates LLC lifted its stake in shares of EXACT Sciences by 258.9% in the 4th quarter. Jennison Associates LLC now owns 518,589 shares of the medical research company’s stock worth $27,247,000 after purchasing an additional 374,078 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in EXACT Sciences by 41.6% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 723,738 shares of the medical research company’s stock worth $34,103,000 after acquiring an additional 212,697 shares in the last quarter. 82.05% of the stock is currently owned by hedge funds and other institutional investors.
Shares of EXACT Sciences Co. (NASDAQ EXAS) traded up $0.21 during mid-day trading 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. 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 Co. has a 1-year low of $19.91 and a 1-year high of $63.60. The stock has a market capitalization of $6,320.00, a price-to-earnings ratio of -25.86 and a beta of 0.71.
EXACT Sciences (NASDAQ:EXAS) last released its earnings results on Thursday, February 22nd. The medical research company reported ($0.18) EPS for the quarter, topping the Zacks’ 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 the consensus estimate of $87.42 million. During the same quarter in the previous year, the company posted ($0.34) earnings per share. The company’s revenue was up 148.0% compared to the same quarter last year. equities analysts expect that EXACT Sciences Co. will post -0.84 earnings per share for the current year.
In other news, insider Kevin T. Conroy sold 123,512 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $52.58, for a total transaction of $6,494,260.96. Following the completion of the transaction, the insider now directly owns 953,564 shares of the company’s stock, valued at approximately $50,138,395.12. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Maneesh Arora sold 5,295 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $52.19, for a total value of $276,346.05. The disclosure for this sale can be found here. Insiders sold 573,050 shares of company stock valued at $28,372,929 over the last three months. 4.00% of the stock is currently owned by corporate insiders.
EXAS has been the subject of several analyst reports. Leerink Swann set a $67.00 target price on shares of EXACT Sciences and gave the stock a “buy” rating in a report on Friday, February 9th. BidaskClub lowered shares of EXACT Sciences from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 6th. Bank of America raised their target price on shares of EXACT Sciences from $58.00 to $67.00 and gave the company a “buy” rating in a report on Wednesday, November 29th. Benchmark set a $65.00 target price on shares of EXACT Sciences and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, Zacks Investment Research upgraded 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 equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus 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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