American International Group Inc. Buys 9,906 Shares of EXACT Sciences Co. (EXAS)

American International Group Inc. grew its stake in EXACT Sciences Co. (NASDAQ:EXAS) by 14.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,031 shares of the medical research company’s stock after acquiring an additional 9,906 shares during the quarter. American International Group Inc. owned about 0.07% of EXACT Sciences worth $3,677,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of EXAS. Pacer Advisors Inc. purchased a new position in EXACT Sciences during the third quarter worth about $905,000. Biondo Investment Advisors LLC lifted its position in EXACT Sciences by 33.1% during the third quarter. Biondo Investment Advisors LLC now owns 36,600 shares of the medical research company’s stock worth $1,725,000 after buying an additional 9,100 shares during the period. Chartwell Investment Partners LLC purchased a new position in EXACT Sciences during the third quarter worth about $2,476,000. Columbus Circle Investors lifted its position in EXACT Sciences by 5.5% during the third quarter. Columbus Circle Investors now owns 133,398 shares of the medical research company’s stock worth $6,286,000 after buying an additional 6,965 shares during the period. Finally, SG Americas Securities LLC purchased a new position in EXACT Sciences during the third quarter worth about $183,000. Institutional investors and hedge funds own 82.39% of the company’s stock.

EXACT Sciences Co. (NASDAQ:EXAS) opened at $53.73 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.98 and a current ratio of 10.34. EXACT Sciences Co. has a twelve month low of $13.05 and a twelve month high of $63.60.

EXACT Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Monday, October 30th. The medical research company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.07. EXACT Sciences had a negative return on equity of 30.32% and a negative net margin of 60.71%. The company had revenue of $72.60 million for the quarter, compared to the consensus estimate of $65.03 million. During the same period last year, the business posted ($0.36) EPS. The company’s quarterly revenue was up 158.4% compared to the same quarter last year. analysts predict that EXACT Sciences Co. will post -1.12 EPS for the current year.

In other news, insider Graham Peter Lidgard sold 45,770 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $58.27, for a total value of $2,667,017.90. Following the completion of the sale, the insider now owns 237,820 shares in the company, valued at $13,857,771.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kevin T. Conroy sold 137,805 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $59.14, for a total value of $8,149,787.70. Following the completion of the sale, the chief executive officer now owns 967,867 shares of the company’s stock, valued at approximately $57,239,654.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 473,547 shares of company stock valued at $26,440,940. Insiders own 4.00% of the company’s stock.

EXAS has been the topic of several recent analyst reports. Canaccord Genuity upgraded EXACT Sciences to a “buy” rating and set a $60.00 target price on the stock in a research report on Tuesday, October 31st. Leerink Swann set a $45.00 target price on EXACT Sciences and gave the stock a “buy” rating in a research report on Thursday, August 24th. Robert W. Baird increased their target price on EXACT Sciences from $49.00 to $56.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 31st. Jefferies Group increased their target price on EXACT Sciences to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Finally, Craig Hallum increased their target price on EXACT Sciences from $46.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. EXACT Sciences has a consensus rating of “Buy” and an average target price of $50.58.

ILLEGAL ACTIVITY WARNING: This news story was originally published by Community Financial News and is owned by of Community Financial News. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The correct version of this news story can be viewed at https://www.com-unik.info/2017/12/07/american-international-group-inc-buys-9906-shares-of-exact-sciences-co-exas.html.

EXACT Sciences 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.

Want to see what other hedge funds are holding EXAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EXACT Sciences Co. (NASDAQ:EXAS).

Institutional Ownership by Quarter for EXACT Sciences (NASDAQ:EXAS)

What are top analysts saying about EXACT Sciences Co.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for EXACT Sciences Co. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit