Pier Capital LLC lessened its stake in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,449 shares of the medical research company’s stock after selling 4,293 shares during the quarter. Pier Capital LLC owned 0.06% of EXACT Sciences worth $3,859,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Amalgamated Bank lifted its position in shares of EXACT Sciences by 6.0% during the 3rd quarter. Amalgamated Bank now owns 14,964 shares of the medical research company’s stock worth $705,000 after buying an additional 845 shares during the period. Raymond James & Associates lifted its position in shares of EXACT Sciences by 1.2% during the 4th quarter. Raymond James & Associates now owns 98,777 shares of the medical research company’s stock worth $5,190,000 after buying an additional 1,168 shares during the period. American International Group Inc. lifted its position in shares of EXACT Sciences by 1.5% during the 4th quarter. American International Group Inc. now owns 79,238 shares of the medical research company’s stock worth $4,163,000 after buying an additional 1,207 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of EXACT Sciences by 19.5% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,045 shares of the medical research company’s stock worth $424,000 after buying an additional 1,315 shares during the period. Finally, Teacher Retirement System of Texas lifted its position in shares of EXACT Sciences by 17.2% during the 3rd quarter. Teacher Retirement System of Texas now owns 9,735 shares of the medical research company’s stock worth $459,000 after buying an additional 1,432 shares during the period. Institutional investors and hedge funds own 82.02% of the company’s stock.
Several equities analysts recently commented on the company. Zacks Investment Research upgraded EXACT Sciences from a “sell” rating to a “hold” rating in a research report on Monday. BidaskClub downgraded EXACT Sciences from a “buy” rating to a “hold” rating in a research report on Thursday, March 1st. Leerink Swann set a $67.00 target price on EXACT Sciences and gave the stock a “buy” rating in a research report on Friday, February 23rd. William Blair restated a “buy” rating on shares of EXACT Sciences in a research report on Wednesday, January 10th. Finally, Robert W. Baird upgraded EXACT Sciences from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $42.56 to $56.00 in a research report on Tuesday, February 27th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $52.84.
In other news, insider Graham Peter Lidgard sold 6,125 shares of EXACT Sciences stock in a transaction on Friday, March 9th. The stock was sold at an average price of $50.94, for a total value of $312,007.50. Following the completion of the sale, the insider now directly owns 200,074 shares of the company’s stock, valued at approximately $10,191,769.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin T. Conroy sold 123,512 shares of EXACT Sciences stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $52.58, for a total value of $6,494,260.96. Following the completion of the sale, the insider now directly owns 953,564 shares of the company’s stock, valued at $50,138,395.12. The disclosure for this sale can be found here. Insiders sold a total of 573,050 shares of company stock valued at $28,372,929 over the last three months. Insiders own 4.00% of the company’s stock.
EXAS stock opened at $49.04 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.15 and a quick ratio of 6.77. EXACT Sciences Co. has a 52-week low of $19.91 and a 52-week high of $63.60. The stock has a market capitalization of $5,860.83, a price-to-earnings ratio of -49.04 and a beta of 0.71.
EXACT Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Thursday, February 22nd. The medical research company reported ($0.18) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.09. The firm had revenue of $87.41 million during the quarter, compared to the consensus estimate of $87.42 million. EXACT Sciences had a negative return on equity of 24.13% and a negative net margin of 43.01%. The business’s revenue for the quarter was up 148.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.34) EPS. equities research analysts expect that EXACT Sciences Co. will post -0.86 earnings per share for the current year.
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About EXACT Sciences
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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