MARSHALL WACE ASIA Ltd Takes $20.70 Million Position in EXACT Sciences Co. (EXAS)

MARSHALL WACE ASIA Ltd acquired a new position in shares of EXACT Sciences Co. (NASDAQ:EXAS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 262,283 shares of the medical research company’s stock, valued at approximately $20,700,000.

Other hedge funds also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC purchased a new stake in EXACT Sciences during the second quarter worth about $182,000. Chicago Partners Investment Group LLC boosted its holdings in 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 buying an additional 1,000 shares in the last quarter. First Republic Investment Management Inc. purchased a new stake in EXACT Sciences during the third quarter worth about $204,000. Fulton Bank N.A. purchased a new stake in EXACT Sciences during the third quarter worth about $208,000. Finally, Alps Advisors Inc. purchased a new stake in EXACT Sciences during the second quarter worth about $210,000. 92.25% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently commented on EXAS shares. BidaskClub downgraded shares of EXACT Sciences from a “hold” rating to a “sell” rating in a report on Friday, August 10th. UBS Group set a $100.00 target price on shares of EXACT Sciences and gave the stock a “buy” rating in a research report on Tuesday, October 30th. Robert W. Baird lifted their target price on shares of EXACT Sciences from $65.00 to $74.00 and gave the stock an “outperform” rating in a research report on Thursday, August 23rd. Craig Hallum lifted their target price on shares of EXACT Sciences from $54.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, August 23rd. Finally, Canaccord Genuity restated a “buy” rating and set a $65.00 target price (up previously from $62.00) on shares of EXACT Sciences in a research report on Monday, August 13th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $84.08.

In other EXACT Sciences news, insider D Scott Coward sold 2,190 shares of the stock in a transaction on Monday, October 1st. The shares were sold at an average price of $79.51, for a total transaction of $174,126.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Kevin T. Conroy sold 163,514 shares of the stock in a transaction on Monday, November 12th. The stock was sold at an average price of $69.00, for a total transaction of $11,282,466.00. Following the sale, the insider now directly owns 886,011 shares in the company, valued at $61,134,759. The disclosure for this sale can be found here. Insiders sold 386,968 shares of company stock valued at $27,418,499 over the last 90 days. Insiders own 3.20% of the company’s stock.

EXAS stock traded down $1.02 on Thursday, hitting $74.92. 1,567,533 shares of the company were exchanged, compared to its average volume of 2,391,365. EXACT Sciences Co. has a twelve month low of $37.36 and a twelve month high of $82.85. The company has a debt-to-equity ratio of 0.94, a quick ratio of 11.72 and a current ratio of 12.08. The firm has a market capitalization of $9.33 billion, a price-to-earnings ratio of -75.68 and a beta of 1.20.

EXACT Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Tuesday, October 30th. The medical research company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.05. EXACT Sciences had a negative net margin of 35.83% and a negative return on equity of 20.18%. The firm had revenue of $118.29 million during the quarter, compared to analyst estimates of $109.33 million. During the same quarter in the prior year, the business posted ($0.23) earnings per share. EXACT Sciences’s revenue for the quarter was up 63.0% compared to the same quarter last year. As a group, equities analysts forecast that EXACT Sciences Co. will post -1.5 EPS for the current fiscal year.

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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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Institutional Ownership by Quarter for EXACT Sciences (NASDAQ:EXAS)

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