MainStreet Investment Advisors LLC bought a new position in shares of EXACT Sciences Co. (NASDAQ:EXAS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,000 shares of the medical research company’s stock, valued at approximately $525,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. C M Bidwell & Associates Ltd. bought a new stake in EXACT Sciences during the 4th quarter worth approximately $117,000. Crow Point Partners LLC purchased a new stake in EXACT Sciences during the 4th quarter valued at approximately $145,000. Oppenheimer Asset Management Inc. grew its holdings 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 buying an additional 3,072 shares in the last quarter. Advisory Services Network LLC grew its holdings 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 buying an additional 3,300 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in EXACT Sciences during the 3rd quarter valued at approximately $183,000. Institutional investors own 82.02% of the company’s stock.
EXAS has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of EXACT Sciences from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Tuesday, January 16th. BidaskClub lowered shares of EXACT Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Leerink Swann set a $67.00 price objective on shares of EXACT Sciences and gave the company a “buy” rating in a report on Wednesday, March 28th. Bank of America set a $67.00 price objective on shares of EXACT Sciences and gave the company a “buy” rating in a report on Monday, January 8th. Finally, William Blair reaffirmed a “buy” rating on shares of EXACT Sciences in a report on Tuesday, January 2nd. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $52.84.
In related news, insider Kevin T. Conroy sold 110,439 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $50.49, for a total value of $5,576,065.11. Following the completion of the sale, the insider now directly owns 940,491 shares in the company, valued at $47,485,390.59. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kevin T. Conroy sold 125,402 shares of the firm’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $52.79, for a total value of $6,619,971.58. Following the completion of the sale, the insider now owns 955,454 shares of the company’s stock, valued at $50,438,416.66. The disclosure for this sale can be found here. Over the last three months, insiders sold 449,995 shares of company stock valued at $21,876,323. 4.00% of the stock is currently owned by insiders.
Shares of EXAS stock traded down $2.66 on Friday, reaching $37.84. The company’s stock had a trading volume of 2,043,658 shares, compared to its average volume of 2,268,270. EXACT Sciences Co. has a 1 year low of $22.30 and a 1 year high of $63.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.77 and a current ratio of 7.15. The firm has a market cap of $4,576.45, a PE ratio of -38.22 and a beta of 0.87.
EXACT Sciences (NASDAQ:EXAS) last posted its earnings results on Thursday, February 22nd. The medical research company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. EXACT Sciences had a negative net margin of 43.01% and a negative return on equity of 24.13%. The firm had revenue of $87.41 million during the quarter, compared to analyst estimates of $87.42 million. During the same period last year, the firm posted ($0.34) earnings per share. EXACT Sciences’s revenue for the quarter was up 148.0% compared to the same quarter last year. equities analysts predict that EXACT Sciences Co. will post -0.92 EPS for the current year.
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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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