IQ EQ FUND MANAGEMENT IRELAND Ltd Takes $4.14 Million Position in Exact Sciences Corporation $EXAS

IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Exact Sciences Corporation (NASDAQ:EXAS) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 75,662 shares of the medical research company’s stock, valued at approximately $4,139,000.

Other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP grew its holdings in shares of Exact Sciences by 1,553.1% during the second quarter. Marshall Wace LLP now owns 429,719 shares of the medical research company’s stock valued at $22,835,000 after buying an additional 403,724 shares during the last quarter. Holocene Advisors LP lifted its position in Exact Sciences by 189.5% in the 2nd quarter. Holocene Advisors LP now owns 2,145,181 shares of the medical research company’s stock valued at $113,995,000 after acquiring an additional 1,404,086 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Exact Sciences during the 2nd quarter valued at about $3,716,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in Exact Sciences by 643.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,286,595 shares of the medical research company’s stock valued at $70,390,000 after purchasing an additional 1,113,459 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in Exact Sciences by 255.4% during the 2nd quarter. Prudential Financial Inc. now owns 34,720 shares of the medical research company’s stock worth $1,845,000 after purchasing an additional 24,951 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors.

Exact Sciences Trading Up 0.4%

NASDAQ:EXAS opened at $102.66 on Friday. Exact Sciences Corporation has a 12 month low of $38.81 and a 12 month high of $102.73. The company has a current ratio of 2.72, a quick ratio of 2.44 and a debt-to-equity ratio of 0.93. The firm’s 50 day moving average is $101.85 and its 200 day moving average is $73.28. The stock has a market capitalization of $19.59 billion, a PE ratio of -19.30, a price-to-earnings-growth ratio of 2.42 and a beta of 1.42.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.11. Exact Sciences had a positive return on equity of 1.67% and a negative net margin of 32.01%.The company had revenue of $850.74 million during the quarter, compared to the consensus estimate of $810.42 million. During the same quarter in the prior year, the company earned ($0.21) EPS. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. Sell-side analysts expect that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Insider Buying and Selling at Exact Sciences

In related news, EVP Jacob A. Orville sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $75.00, for a total transaction of $375,000.00. Following the sale, the executive vice president directly owned 23,237 shares in the company, valued at approximately $1,742,775. This represents a 17.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by insiders.

Analysts Set New Price Targets

EXAS has been the subject of several recent research reports. Wolfe Research downgraded Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $105.00 price objective (up from $85.00) on shares of Exact Sciences in a report on Thursday, November 20th. Mizuho reiterated a “neutral” rating and issued a $105.00 target price (up previously from $85.00) on shares of Exact Sciences in a report on Tuesday, January 20th. Canaccord Genuity Group cut shares of Exact Sciences from a “buy” rating to a “hold” rating and boosted their price target for the stock from $85.00 to $105.00 in a report on Tuesday, November 25th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $105.00 price objective (up from $77.00) on shares of Exact Sciences in a research report on Thursday, November 20th. Two analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $89.56.

Exact Sciences Company Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.