Intellectus Partners LLC continued to hold its position in Exact Sciences Corporation (NASDAQ:EXAS) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,000 shares of the medical research company’s stock at the close of the second quarter. Intellectus Partners LLC’s holdings in Exact Sciences Corporation were worth $354,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in EXAS. BlackRock Inc. boosted its stake in shares of Exact Sciences Corporation by 45,816.0% during the 1st quarter. BlackRock Inc. now owns 6,804,297 shares of the medical research company’s stock worth $160,718,000 after purchasing an additional 6,789,478 shares during the period. Fred Alger Management Inc. purchased a new position in shares of Exact Sciences Corporation during the 2nd quarter worth about $84,177,000. Point72 Asset Management L.P. boosted its stake in shares of Exact Sciences Corporation by 1,534.3% during the 1st quarter. Point72 Asset Management L.P. now owns 2,500,476 shares of the medical research company’s stock worth $59,061,000 after purchasing an additional 2,347,476 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Exact Sciences Corporation during the 2nd quarter worth about $29,450,000. Finally, Vanguard Group Inc. boosted its stake in shares of Exact Sciences Corporation by 8.0% during the 2nd quarter. Vanguard Group Inc. now owns 9,459,679 shares of the medical research company’s stock worth $334,589,000 after purchasing an additional 700,051 shares during the period. 85.22% of the stock is owned by hedge funds and other institutional investors.
Exact Sciences Corporation (NASDAQ:EXAS) last announced its earnings results on Tuesday, July 25th. The medical research company reported ($0.27) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.10. The company had revenue of $57.65 million during the quarter, compared to analyst estimates of $47.73 million. Exact Sciences Corporation had a negative net margin of 83.08% and a negative return on equity of 36.36%.
In other Exact Sciences Corporation news, Director Thomas D. Carey acquired 2,500 shares of the stock in a transaction dated Thursday, August 17th. The stock was acquired at an average price of $37.71 per share, with a total value of $94,275.00. Following the completion of the purchase, the director now owns 60,858 shares in the company, valued at approximately $2,294,955.18. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jeffrey Thomas Elliott sold 5,846 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 19,861 shares of the company’s stock, valued at approximately $782,722.01. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 237,444 shares of company stock valued at $10,412,421. 4.00% of the stock is currently owned by insiders.
EXAS has been the subject of a number of recent analyst reports. Vetr cut shares of Exact Sciences Corporation from a “hold” rating to a “sell” rating and set a $34.70 price target for the company. in a research note on Wednesday, July 12th. Leerink Swann set a $45.00 price target on shares of Exact Sciences Corporation and gave the stock a “buy” rating in a research note on Thursday, August 24th. Roth Capital lifted their price target on shares of Exact Sciences Corporation from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Craig Hallum lifted their price target on shares of Exact Sciences Corporation from $35.00 to $41.00 in a research note on Friday, July 7th. Finally, BidaskClub cut shares of Exact Sciences Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $43.71.
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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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