Canada Pension Plan Investment Board increased its position in Exact Sciences Corporation (NASDAQ:EXAS) by 1,140.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 475,000 shares of the medical research company’s stock after buying an additional 436,700 shares during the period. Canada Pension Plan Investment Board owned about 0.40% of Exact Sciences Corporation worth $16,801,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the company. Financial Architects Inc increased its stake in Exact Sciences Corporation by 90.0% in the second quarter. Financial Architects Inc now owns 4,295 shares of the medical research company’s stock worth $152,000 after buying an additional 2,035 shares in the last quarter. Trexquant Investment LP bought a new stake in Exact Sciences Corporation during the second quarter worth approximately $216,000. Aperio Group LLC bought a new stake in Exact Sciences Corporation during the second quarter worth approximately $252,000. Legato Capital Management LLC bought a new stake in Exact Sciences Corporation during the second quarter worth approximately $254,000. Finally, Botty Investors LLC bought a new stake in Exact Sciences Corporation during the first quarter worth approximately $200,000. 85.44% of the stock is currently owned by hedge funds and other institutional investors.
Exact Sciences Corporation (NASDAQ EXAS) opened at 38.74 on Tuesday. The firm’s market cap is $4.61 billion. Exact Sciences Corporation has a 52-week low of $13.05 and a 52-week high of $42.18. The stock has a 50 day moving average of $37.72 and a 200-day moving average of $29.14.
Exact Sciences Corporation (NASDAQ:EXAS) last posted its quarterly earnings data on Tuesday, July 25th. The medical research company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.10. Exact Sciences Corporation had a negative net margin of 83.08% and a negative return on equity of 36.36%. The company had revenue of $57.65 million during the quarter, compared to analyst estimates of $47.73 million. On average, analysts expect that Exact Sciences Corporation will post ($1.18) EPS for the current year.
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A number of equities analysts have issued reports on EXAS shares. Vetr cut shares of Exact Sciences Corporation from a “buy” rating to a “hold” rating and set a $38.66 target price for the company. in a research report on Thursday, August 3rd. Zacks Investment Research cut shares of Exact Sciences Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Bank of America Corporation restated a “buy” rating on shares of Exact Sciences Corporation in a research report on Wednesday, July 26th. Jefferies Group LLC set a $35.00 target price on shares of Exact Sciences Corporation and gave the stock a “buy” rating in a research report on Thursday, June 1st. Finally, Lake Street Capital lifted their target price on shares of Exact Sciences Corporation from $30.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, July 26th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $40.51.
In other Exact Sciences Corporation news, CFO Jeffrey Thomas Elliott sold 5,846 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $39.41, for a total transaction of $230,390.86. Following the completion of the sale, the chief financial officer now directly owns 19,861 shares of the company’s stock, valued at $782,722.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP D Scott Coward sold 1,987 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $35.21, for a total transaction of $69,962.27. Following the sale, the senior vice president now directly owns 57,603 shares of the company’s stock, valued at $2,028,201.63. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by corporate insiders.
About Exact Sciences Corporation
Exact Sciences Corporation is a molecular diagnostics company. The Company focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer. Its Cologuard test is a stool-based deoxyribonucleic acid (sDNA) screening test, which utilizes a multi-target approach to detect deoxyribonucleic acid (DNA) and hemoglobin biomarkers associated with colorectal cancer and pre-cancer.
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