Sit Investment Associates Inc. purchased a new position in shares of Exact Sciences Corporation (NASDAQ:EXAS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,150 shares of the medical research company’s stock, valued at approximately $394,000.
Other large investors have also bought and sold shares of the company. Neuberger Berman Group LLC acquired a new stake in Exact Sciences Corporation during the first quarter worth approximately $6,391,000. Nationwide Fund Advisors boosted its stake in Exact Sciences Corporation by 52.1% in the first quarter. Nationwide Fund Advisors now owns 149,167 shares of the medical research company’s stock worth $3,523,000 after buying an additional 51,085 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Exact Sciences Corporation during the fourth quarter worth approximately $758,000. UBS Group AG boosted its stake in Exact Sciences Corporation by 32.1% in the first quarter. UBS Group AG now owns 108,305 shares of the medical research company’s stock worth $2,558,000 after buying an additional 26,309 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Exact Sciences Corporation during the first quarter worth approximately $8,298,000. 85.44% of the stock is currently owned by institutional investors and hedge funds.
Exact Sciences Corporation (NASDAQ EXAS) traded up 1.09% on Friday, reaching $37.87. The company had a trading volume of 1,039,106 shares. Exact Sciences Corporation has a 1-year low of $13.05 and a 1-year high of $42.18. The company’s 50-day moving average price is $38.05 and its 200 day moving average price is $29.56. The firm’s market capitalization is $4.51 billion.
Exact Sciences Corporation (NASDAQ:EXAS) last released its quarterly earnings data on Tuesday, July 25th. The medical research company reported ($0.27) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.10. The company had revenue of $57.65 million during the quarter, compared to the consensus estimate of $47.73 million. Exact Sciences Corporation had a negative net margin of 83.08% and a negative return on equity of 36.36%. On average, equities analysts forecast that Exact Sciences Corporation will post ($1.18) EPS for the current year.
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EXAS has been the topic of a number of recent analyst reports. BidaskClub raised Exact Sciences Corporation from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Zacks Investment Research cut Exact Sciences Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. Canaccord Genuity reissued a “buy” rating and set a $27.00 price target on shares of Exact Sciences Corporation in a report on Monday, April 24th. Vetr raised Exact Sciences Corporation from a “buy” rating to a “strong-buy” rating and set a $36.39 price target on the stock in a report on Tuesday, June 13th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $25.00 price target on shares of Exact Sciences Corporation in a report on Wednesday, April 26th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Exact Sciences Corporation has a consensus rating of “Buy” and an average price target of $40.51.
In other Exact Sciences Corporation news, Director Thomas D. Carey acquired 2,500 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was bought at an average price of $37.71 per share, for a total transaction of $94,275.00. Following the acquisition, the director now owns 60,858 shares in the company, valued at $2,294,955.18. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeffrey Thomas Elliott sold 5,846 shares of the 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 owns 19,861 shares of the company’s stock, valued at approximately $782,722.01. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by corporate insiders.
Exact Sciences Corporation Company Profile
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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