ClariVest Asset Management LLC increased its holdings in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 152.3% during the first quarter, Holdings Channel reports. The fund owned 33,300 shares of the medical research company’s stock after acquiring an additional 20,100 shares during the quarter. ClariVest Asset Management LLC’s holdings in EXACT Sciences were worth $2,885,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of EXAS. First Hawaiian Bank lifted its holdings in shares of EXACT Sciences by 160.0% in the first quarter. First Hawaiian Bank now owns 325 shares of the medical research company’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Buffington Mohr McNeal bought a new position in shares of EXACT Sciences in the first quarter valued at approximately $30,000. Shine Investment Advisory Services Inc. lifted its holdings in shares of EXACT Sciences by 130.2% in the first quarter. Shine Investment Advisory Services Inc. now owns 442 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 250 shares in the last quarter. Harvest Group Wealth Management LLC bought a new position in shares of EXACT Sciences in the first quarter valued at approximately $39,000. Finally, Manchester Capital Management LLC bought a new position in shares of EXACT Sciences in the first quarter valued at approximately $39,000. 86.34% of the stock is currently owned by institutional investors and hedge funds.
Shares of EXACT Sciences stock opened at $112.28 on Thursday. The firm has a market cap of $14.23 billion, a P/E ratio of -82.56 and a beta of 1.69. EXACT Sciences Co. has a 12 month low of $47.78 and a 12 month high of $114.36. The company has a debt-to-equity ratio of 1.02, a quick ratio of 8.13 and a current ratio of 8.39.
EXACT Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Tuesday, April 30th. The medical research company reported ($0.66) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.65) by ($0.01). EXACT Sciences had a negative return on equity of 28.83% and a negative net margin of 41.58%. The business had revenue of $162.00 million for the quarter, compared to the consensus estimate of $153.07 million. During the same quarter last year, the business posted ($0.33) earnings per share. The business’s revenue was up 79.4% compared to the same quarter last year. Research analysts anticipate that EXACT Sciences Co. will post -2.21 EPS for the current year.
In other EXACT Sciences news, insider Mark Stenhouse sold 11,192 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $92.54, for a total value of $1,035,707.68. Following the completion of the sale, the insider now directly owns 25,500 shares of the company’s stock, valued at $2,359,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.20% of the company’s stock.
EXAS has been the topic of a number of recent research reports. UBS Group set a $109.00 target price on EXACT Sciences and gave the company a “buy” rating in a report on Friday, February 22nd. Craig Hallum set a $95.00 target price on EXACT Sciences and gave the company a “buy” rating in a report on Friday, February 22nd. BidaskClub lowered EXACT Sciences from a “strong-buy” rating to a “buy” rating in a report on Friday, February 15th. Goldman Sachs Group upgraded EXACT Sciences from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $120.00 in a report on Tuesday, February 26th. Finally, BTIG Research lifted their price target on EXACT Sciences to $130.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. EXACT Sciences currently has an average rating of “Buy” and a consensus price target of $108.45.
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About EXACT Sciences
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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