Royal Bank of Canada grew its position in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 562.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 231,704 shares of the medical research company’s stock after purchasing an additional 196,703 shares during the quarter. Royal Bank of Canada owned approximately 0.19% of Exact Sciences Corporation worth $8,196,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in EXAS. BlackRock Inc. boosted its stake in shares of Exact Sciences Corporation by 45,816.0% during the first quarter. BlackRock Inc. now owns 6,804,297 shares of the medical research company’s stock valued at $160,718,000 after purchasing an additional 6,789,478 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Exact Sciences Corporation by 1,534.3% during the first quarter. Point72 Asset Management L.P. now owns 2,500,476 shares of the medical research company’s stock valued at $59,061,000 after purchasing an additional 2,347,476 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Exact Sciences Corporation during the second quarter valued at about $29,450,000. Vanguard Group Inc. lifted its stake in shares of Exact Sciences Corporation by 8.0% in the second quarter. Vanguard Group Inc. now owns 9,459,679 shares of the medical research company’s stock worth $334,589,000 after acquiring an additional 700,051 shares during the period. Finally, Green Valley Investors LLC acquired a new position in shares of Exact Sciences Corporation in the second quarter worth approximately $20,892,000. 85.12% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on EXAS. Robert W. Baird reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Exact Sciences Corporation in a research note on Friday, October 6th. Canaccord Genuity reiterated a “buy” rating and issued a $60.00 target price (up from $45.00) on shares of Exact Sciences Corporation in a report on Tuesday, October 3rd. Bank of America Corporation set a $56.00 target price on Exact Sciences Corporation and gave the stock a “buy” rating in a report on Thursday, October 19th. Zacks Investment Research upgraded Exact Sciences Corporation from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a report on Tuesday, September 26th. Finally, Leerink Swann restated an “outperform” rating and set a $50.00 price objective (up previously from $45.00) on shares of Exact Sciences Corporation in a report on Thursday, September 21st. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $44.91.
In other news, SVP D Scott Coward sold 29,115 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $47.16, for a total transaction of $1,373,063.40. Following the completion of the sale, the senior vice president now owns 64,991 shares in the company, valued at approximately $3,064,975.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Graham Peter Lidgard sold 45,775 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $41.49, for a total transaction of $1,899,204.75. Following the sale, the insider now owns 288,952 shares of the company’s stock, valued at approximately $11,988,618.48. The disclosure for this sale can be found here. Insiders sold a total of 237,444 shares of company stock worth $10,412,421 over the last three months. Corporate insiders own 4.00% of the company’s stock.
Exact Sciences Corporation (NASDAQ EXAS) opened at 51.16 on Friday. The stock’s market cap is $6.09 billion. The stock’s 50 day moving average price is $46.09 and its 200-day moving average price is $37.66. Exact Sciences Corporation has a 12 month low of $13.05 and a 12 month high of $51.70.
Exact Sciences Corporation (NASDAQ:EXAS) last released its earnings results on Tuesday, July 25th. The medical research company reported ($0.27) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.10. Exact Sciences Corporation had a negative net margin of 83.08% and a negative return on equity of 36.36%. The business had revenue of $57.65 million for the quarter, compared to analyst estimates of $47.73 million. Analysts anticipate that Exact Sciences Corporation will post ($1.17) EPS for the current fiscal year.
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About Exact Sciences Corporation
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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