Brown Advisory Inc. increased its position in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 11.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,326 shares of the medical research company’s stock after acquiring an additional 3,787 shares during the period. Brown Advisory Inc.’s holdings in EXACT Sciences were worth $2,867,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in EXAS. Cornerstone Wealth Management LLC purchased a new stake in shares of EXACT Sciences during the second quarter worth $182,000. Chicago Partners Investment Group LLC raised its holdings in shares of EXACT Sciences by 47.6% during the third quarter. Chicago Partners Investment Group LLC now owns 3,100 shares of the medical research company’s stock worth $191,000 after acquiring an additional 1,000 shares in the last quarter. Fulton Bank N.A. purchased a new stake in shares of EXACT Sciences during the third quarter worth $208,000. Alps Advisors Inc. purchased a new stake in shares of EXACT Sciences during the second quarter worth $210,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of EXACT Sciences during the third quarter worth $220,000. Institutional investors and hedge funds own 92.25% of the company’s stock.
NASDAQ EXAS opened at $71.70 on Friday. EXACT Sciences Co. has a fifty-two week low of $37.36 and a fifty-two week high of $82.85. The company has a current ratio of 12.08, a quick ratio of 11.72 and a debt-to-equity ratio of 0.94.
EXACT Sciences (NASDAQ:EXAS) last posted its earnings results on Tuesday, October 30th. The medical research company reported ($0.37) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.05. EXACT Sciences had a negative return on equity of 20.18% and a negative net margin of 35.83%. The company had revenue of $118.29 million for the quarter, compared to analyst estimates of $109.33 million. During the same period last year, the company earned ($0.23) earnings per share. The business’s revenue was up 63.0% compared to the same quarter last year. Research analysts expect that EXACT Sciences Co. will post -1.51 earnings per share for the current year.
EXAS has been the subject of several recent research reports. UBS Group initiated coverage on EXACT Sciences in a report on Tuesday, October 9th. They set a “buy” rating and a $100.00 price objective for the company. Canaccord Genuity increased their price objective on EXACT Sciences from $72.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, September 12th. BidaskClub lowered EXACT Sciences from a “buy” rating to a “hold” rating in a report on Friday, October 5th. BTIG Research increased their price objective on EXACT Sciences to $95.00 and gave the stock a “buy” rating in a report on Wednesday, August 22nd. Finally, Zacks Investment Research upgraded EXACT Sciences from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $84.08.
In other news, Director Katherine S. Zanotti sold 7,667 shares of EXACT Sciences stock in a transaction dated Monday, November 12th. The stock was sold at an average price of $69.00, for a total value of $529,023.00. Following the transaction, the director now directly owns 102,786 shares in the company, valued at $7,092,234. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider D Scott Coward sold 2,190 shares of EXACT Sciences stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $79.51, for a total value of $174,126.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 386,968 shares of company stock worth $27,418,499. Corporate insiders own 3.20% of the company’s stock.
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EXACT Sciences Profile
Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company offers Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer.
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