Cubist Systematic Strategies LLC raised its position in EXACT Sciences Co. (NASDAQ:EXAS) by 5,146.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 11,961 shares of the medical research company’s stock after purchasing an additional 11,733 shares during the period. Cubist Systematic Strategies LLC’s holdings in EXACT Sciences were worth $482,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of EXAS. OppenheimerFunds Inc. grew its holdings in EXACT Sciences by 99.6% in the first quarter. OppenheimerFunds Inc. now owns 5,831,347 shares of the medical research company’s stock valued at $235,179,000 after purchasing an additional 2,910,506 shares during the last quarter. Artisan Partners Limited Partnership acquired a new stake in EXACT Sciences in the first quarter valued at $60,243,000. Victory Capital Management Inc. grew its holdings in EXACT Sciences by 43.7% in the first quarter. Victory Capital Management Inc. now owns 1,709,505 shares of the medical research company’s stock valued at $68,945,000 after purchasing an additional 519,945 shares during the last quarter. Elk Creek Partners LLC grew its holdings in EXACT Sciences by 66.5% in the first quarter. Elk Creek Partners LLC now owns 962,731 shares of the medical research company’s stock valued at $38,827,000 after purchasing an additional 384,481 shares during the last quarter. Finally, Zweig DiMenna Associates LLC grew its holdings in EXACT Sciences by 110.5% in the first quarter. Zweig DiMenna Associates LLC now owns 641,658 shares of the medical research company’s stock valued at $25,878,000 after purchasing an additional 336,883 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.
In related news, Director Thomas D. Carey sold 8,448 shares of the stock in a transaction dated Tuesday, April 10th. The stock was sold at an average price of $39.73, for a total transaction of $335,639.04. Following the transaction, the director now directly owns 52,610 shares in the company, valued at $2,090,195.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael S. Wyzga sold 7,402 shares of the stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $51.53, for a total value of $381,425.06. Following the transaction, the director now owns 10,974 shares in the company, valued at $565,490.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,204 shares of company stock worth $1,127,639. Corporate insiders own 3.20% of the company’s stock.
Several research firms have weighed in on EXAS. BidaskClub lowered EXACT Sciences from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 26th. BTIG Research reissued a “buy” rating and issued a $60.00 target price on shares of EXACT Sciences in a report on Sunday, April 29th. Robert W. Baird upped their target price on EXACT Sciences from $58.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, June 5th. Canaccord Genuity upped their target price on EXACT Sciences from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, June 6th. Finally, Zacks Investment Research raised EXACT Sciences from a “sell” rating to a “hold” rating in a report on Monday, June 4th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $61.05.
EXAS opened at $59.79 on Friday. The company has a current ratio of 15.30, a quick ratio of 14.86 and a debt-to-equity ratio of 0.71. The firm has a market cap of $7.37 billion, a P/E ratio of -60.39 and a beta of 0.86. EXACT Sciences Co. has a 52 week low of $34.39 and a 52 week high of $71.60.
EXACT Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Thursday, April 26th. The medical research company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.05. The business had revenue of $90.30 million for the quarter, compared to analyst estimates of $86.31 million. EXACT Sciences had a negative return on equity of 20.92% and a negative net margin of 38.61%. The business’s revenue for the quarter was up 86.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.32) earnings per share. equities analysts predict that EXACT Sciences Co. will post -1.18 earnings per share for the current fiscal year.
EXACT Sciences Company 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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