Fmr LLC raised its stake in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 32.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,318,269 shares of the medical research company’s stock after buying an additional 571,796 shares during the quarter. Fmr LLC owned about 1.95% of Exact Sciences Corporation worth $81,997,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the business. Fortaleza Asset Management Inc. purchased a new stake in Exact Sciences Corporation during the second quarter valued at $106,000. Northwestern Mutual Wealth Management Co. increased its position in Exact Sciences Corporation by 17.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,072 shares of the medical research company’s stock valued at $144,000 after acquiring an additional 600 shares during the last quarter. Financial Architects Inc increased its position in Exact Sciences Corporation by 90.0% during the second quarter. Financial Architects Inc now owns 4,295 shares of the medical research company’s stock valued at $152,000 after acquiring an additional 2,035 shares during the last quarter. Johnson Financial Group Inc. increased its position in Exact Sciences Corporation by 25.9% during the second quarter. Johnson Financial Group Inc. now owns 4,862 shares of the medical research company’s stock valued at $172,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Exact Sciences Corporation by 66.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,052 shares of the medical research company’s stock valued at $179,000 after acquiring an additional 2,013 shares during the last quarter. Institutional investors and hedge funds own 85.22% of the company’s stock.
In related news, insider Graham Peter Lidgard sold 81,025 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $47.16, for a total transaction of $3,821,139.00. Following the completion of the transaction, the insider now owns 366,519 shares in the company, valued at $17,285,036.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas D. Carey bought 2,500 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were purchased at an average price of $37.71 per share, with a total value of $94,275.00. Following the purchase, the director now owns 60,858 shares of the company’s stock, valued at approximately $2,294,955.18. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 237,444 shares of company stock valued at $10,412,421. Insiders own 4.00% of the company’s stock.
Exact Sciences Corporation (NASDAQ:EXAS) last issued its earnings results on Tuesday, July 25th. The medical research company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.10. The firm had revenue of $57.65 million during 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%.
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Several research firms have issued reports on EXAS. Robert W. Baird reissued a “buy” rating and set a $49.00 price target on shares of Exact Sciences Corporation in a report on Friday, October 6th. Zacks Investment Research lowered Exact Sciences Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Vetr lowered Exact Sciences Corporation from a “buy” rating to a “hold” rating and set a $37.46 price target for the company. in a report on Wednesday, June 28th. Leerink Swann reaffirmed an “outperform” rating and issued a $50.00 price objective (up previously from $45.00) on shares of Exact Sciences Corporation in a research note on Thursday, September 21st. Finally, Lake Street Capital upped their price objective on Exact Sciences Corporation from $30.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, July 26th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Exact Sciences Corporation has a consensus rating of “Buy” and a consensus price target of $43.71.
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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