EXACT Sciences Co. (NASDAQ:EXAS) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 14,380,000 shares, a growth of 11.5% from the December 15th total of 12,900,000 shares. Based on an average trading volume of 2,070,000 shares, the short-interest ratio is presently 6.9 days. Currently, 11.2% of the shares of the company are sold short.
Shares of EXAS traded up $1.29 during trading hours on Thursday, hitting $91.55. The stock had a trading volume of 74,801 shares, compared to its average volume of 2,000,074. The company’s fifty day moving average is $91.53 and its two-hundred day moving average is $101.10. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.75 and a quick ratio of 2.63. EXACT Sciences has a 52 week low of $73.63 and a 52 week high of $123.99. The stock has a market capitalization of $12.07 billion, a price-to-earnings ratio of -67.45 and a beta of 1.35.
EXACT Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Tuesday, October 29th. The medical research company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.10. The firm had revenue of $218.81 million during the quarter, compared to the consensus estimate of $216.14 million. EXACT Sciences had a negative net margin of 29.83% and a negative return on equity of 29.06%. The firm’s quarterly revenue was up 85.0% on a year-over-year basis. During the same period last year, the firm posted ($0.37) EPS. Equities analysts predict that EXACT Sciences will post -1.63 EPS for the current fiscal year.
In related news, insider G Bradley Cole sold 28,016 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $80.38, for a total transaction of $2,251,926.08. Following the transaction, the insider now directly owns 30,987 shares in the company, valued at $2,490,735.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.
A number of institutional investors have recently modified their holdings of EXAS. Vanguard Group Inc. raised its stake in shares of EXACT Sciences by 2.8% in the second quarter. Vanguard Group Inc. now owns 11,521,644 shares of the medical research company’s stock valued at $1,360,016,000 after acquiring an additional 309,043 shares during the last quarter. Victory Capital Management Inc. increased its holdings in EXACT Sciences by 30.6% during the 2nd quarter. Victory Capital Management Inc. now owns 1,034,540 shares of the medical research company’s stock valued at $122,117,000 after purchasing an additional 242,225 shares in the last quarter. Nuveen Asset Management LLC bought a new position in EXACT Sciences in the 2nd quarter valued at $122,065,000. Columbus Circle Investors raised its position in EXACT Sciences by 24.3% in the 3rd quarter. Columbus Circle Investors now owns 454,170 shares of the medical research company’s stock valued at $41,043,000 after purchasing an additional 88,747 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its stake in EXACT Sciences by 194.1% in the second quarter. Macquarie Group Ltd. now owns 346,410 shares of the medical research company’s stock worth $40,890,000 after purchasing an additional 228,639 shares in the last quarter. 86.59% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on the company. BidaskClub upgraded EXACT Sciences from a “hold” rating to a “buy” rating in a research note on Friday, January 10th. Canaccord Genuity lowered their price target on EXACT Sciences from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Leerink Swann lowered their price target on EXACT Sciences from $133.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Zacks Investment Research upgraded EXACT Sciences from a “hold” rating to a “buy” rating and set a $109.00 price target on the stock in a research note on Thursday, October 17th. Finally, Oppenheimer assumed coverage on EXACT Sciences in a research note on Thursday, September 26th. They set an “outperform” rating and a $130.00 price target on the stock. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. EXACT Sciences presently has an average rating of “Buy” and a consensus target price of $122.06.
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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