Keybank National Association OH decreased its stake in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 46.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,293 shares of the medical research company’s stock after selling 16,162 shares during the period. Keybank National Association OH’s holdings in Exact Sciences Corporation were worth $647,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Fortaleza Asset Management Inc. purchased a new position in Exact Sciences Corporation during the second quarter worth $106,000. Financial Architects Inc grew its position in shares of 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 valued at $152,000 after purchasing an additional 2,035 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Exact Sciences Corporation by 66.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,052 shares of the medical research company’s stock valued at $179,000 after purchasing an additional 2,013 shares during the period. Trexquant Investment LP purchased a new stake in shares of Exact Sciences Corporation in the second quarter valued at $216,000. Finally, Aperio Group LLC purchased a new stake in shares of Exact Sciences Corporation in the second quarter valued at $252,000. 85.22% of the stock is owned by institutional investors.
In other Exact Sciences Corporation news, insider Graham Peter Lidgard sold 45,775 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $41.49, for a total transaction of $1,899,204.75. Following the transaction, the insider now directly owns 288,952 shares of the company’s stock, valued at $11,988,618.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP D Scott Coward sold 1,987 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $35.21, for a total transaction of $69,962.27. Following the transaction, the senior vice president now directly owns 57,603 shares in the company, valued at $2,028,201.63. The disclosure for this sale can be found here. Insiders have sold 129,291 shares of company stock worth $5,288,181 over the last three months. Company insiders own 4.00% of the company’s stock.
A number of equities research analysts have recently commented on EXAS shares. Vetr downgraded Exact Sciences Corporation from a “strong-buy” rating to a “buy” rating and set a $36.13 price objective for the company. in a research report on Wednesday, May 24th. Benchmark Co. lifted their price objective on Exact Sciences Corporation from $34.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, May 31st. Cowen and Company reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Exact Sciences Corporation in a research report on Wednesday, May 31st. Canaccord Genuity lifted their price objective on Exact Sciences Corporation from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, May 31st. Finally, Jefferies Group LLC set a $35.00 price objective on Exact Sciences Corporation and gave the company a “buy” rating in a research report on Thursday, June 1st. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $40.98.
Exact Sciences Corporation (EXAS) opened at 42.75 on Friday. The company has a 50-day moving average price of $40.01 and a 200-day moving average price of $32.49. Exact Sciences Corporation has a one year low of $13.05 and a one year high of $43.50. The firm’s market cap is $5.09 billion.
Exact Sciences Corporation (NASDAQ:EXAS) last posted its quarterly earnings results on Tuesday, July 25th. The medical research company reported ($0.27) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.10. The business had revenue of $57.65 million for 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%. Equities analysts predict that Exact Sciences Corporation will post ($1.18) earnings per share for the current fiscal year.
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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