Advisors Management Group Inc. ADV acquired a new position in shares of Exact Sciences Corporation (NASDAQ:EXAS) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,729 shares of the medical research company’s stock, valued at approximately $317,000.
Other hedge funds have also made changes to their positions in the company. Fortaleza Asset Management Inc. acquired a new position in Exact Sciences Corporation in the 2nd quarter worth about $106,000. Krilogy Financial LLC increased its holdings in Exact Sciences Corporation by 1,460.0% in the 2nd quarter. Krilogy Financial LLC now owns 3,900 shares of the medical research company’s stock worth $138,000 after purchasing an additional 3,650 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Exact Sciences Corporation by 17.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,072 shares of the medical research company’s stock worth $144,000 after purchasing an additional 600 shares in the last quarter. Financial Architects Inc increased its holdings in Exact Sciences Corporation by 90.0% in the 2nd quarter. Financial Architects Inc now owns 4,295 shares of the medical research company’s stock worth $152,000 after purchasing an additional 2,035 shares in the last quarter. Finally, Johnson Financial Group Inc. increased its holdings in Exact Sciences Corporation by 25.9% in the 2nd quarter. Johnson Financial Group Inc. now owns 4,862 shares of the medical research company’s stock worth $172,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 85.65% of the company’s stock.
EXAS has been the subject of a number of recent research reports. Canaccord Genuity raised Exact Sciences Corporation to a “buy” rating and set a $60.00 target price for the company in a report on Tuesday, October 31st. Leerink Swann set a $45.00 price target on Exact Sciences Corporation and gave the company a “buy” rating in a research note on Thursday, August 24th. Roth Capital increased their price target on Exact Sciences Corporation from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Robert W. Baird increased their price target on Exact Sciences Corporation from $49.00 to $56.00 and gave the company an “outperform” rating in a research note on Tuesday, October 31st. Finally, Vetr raised Exact Sciences Corporation from a “sell” rating to a “hold” rating and set a $36.55 price target for the company in a research note on Tuesday, July 25th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Exact Sciences Corporation currently has a consensus rating of “Buy” and an average target price of $49.98.
In other news, SVP D Scott Coward sold 29,115 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $47.16, for a total value of $1,373,063.40. Following the transaction, the senior vice president now owns 64,991 shares in the company, valued at $3,064,975.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Graham Peter Lidgard sold 45,775 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $41.49, for a total value of $1,899,204.75. Following the completion of the transaction, the insider now owns 288,952 shares in the company, valued at approximately $11,988,618.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 415,178 shares of company stock worth $20,785,358. Corporate insiders own 4.00% of the company’s stock.
Shares of Exact Sciences Corporation (EXAS) traded up $0.96 during trading hours on Thursday, reaching $58.38. The company’s stock had a trading volume of 473,946 shares, compared to its average volume of 2,546,570. 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 Corporation has a 1-year low of $13.05 and a 1-year high of $63.60.
Exact Sciences Corporation (NASDAQ:EXAS) last announced its quarterly earnings results on Monday, October 30th. The medical research company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.07. The business had revenue of $72.60 million for the quarter, compared to analyst estimates of $65.03 million. Exact Sciences Corporation had a negative return on equity of 30.32% and a negative net margin of 60.71%. The company’s quarterly revenue was up 158.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.36) earnings per share. equities research analysts anticipate that Exact Sciences Corporation will post -1.14 earnings per share for the current year.
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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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