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.
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.
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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.
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