Nomura Asset Management Co. Ltd. purchased a new position in EXACT Sciences Co. (NASDAQ:EXAS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 18,910 shares of the medical research company’s stock, valued at approximately $2,232,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mosaic Family Wealth LLC bought a new stake in shares of EXACT Sciences in the 1st quarter worth approximately $37,000. Manchester Capital Management LLC acquired a new stake in EXACT Sciences in the 1st quarter valued at approximately $39,000. Coastal Investment Advisors Inc. increased its position in EXACT Sciences by 95.5% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 391 shares of the medical research company’s stock valued at $47,000 after acquiring an additional 191 shares during the period. NEXT Financial Group Inc acquired a new stake in EXACT Sciences in the 2nd quarter valued at approximately $50,000. Finally, Ropes Wealth Advisors LLC acquired a new stake in EXACT Sciences in the 2nd quarter valued at approximately $71,000. 87.63% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Jeffrey Thomas Elliott sold 9,845 shares of EXACT Sciences stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $105.60, for a total transaction of $1,039,632.00. Following the transaction, the chief financial officer now directly owns 41,012 shares in the company, valued at approximately $4,330,867.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Katherine S. Zanotti sold 1,744 shares of EXACT Sciences stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.93, for a total value of $205,669.92. Following the transaction, the director now owns 42,844 shares in the company, valued at $5,052,592.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,116 shares of company stock worth $1,628,440. 2.20% of the stock is owned by insiders.
Several analysts recently commented on EXAS shares. William Blair restated a “buy” rating on shares of EXACT Sciences in a research report on Tuesday, September 10th. Zacks Investment Research upgraded EXACT Sciences from a “hold” rating to a “buy” rating and set a $129.00 target price on the stock in a research report on Thursday, August 1st. Craig Hallum raised their target price on EXACT Sciences from $115.00 to $127.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. BidaskClub cut EXACT Sciences from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Cowen raised their target price on EXACT Sciences from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $126.22.
Shares of EXAS stock traded down $0.66 during mid-day trading on Thursday, hitting $104.78. 22,049 shares of the stock traded hands, compared to its average volume of 1,288,147. EXACT Sciences Co. has a twelve month low of $53.06 and a twelve month high of $123.99. The firm has a market cap of $13.52 billion, a price-to-earnings ratio of -77.05 and a beta of 1.49. The company’s 50-day simple moving average is $116.11 and its 200-day simple moving average is $105.22. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.69 and a current ratio of 2.79.
EXACT Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Monday, July 29th. The medical research company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.26. EXACT Sciences had a negative return on equity of 28.90% and a negative net margin of 35.43%. The company had revenue of $199.87 million for the quarter, compared to analysts’ expectations of $182.18 million. During the same period last year, the firm earned ($0.30) EPS. The firm’s revenue for the quarter was up 94.3% on a year-over-year basis. Analysts forecast that EXACT Sciences Co. will post -1.74 earnings per share for the current year.
EXACT Sciences Profile
Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company offers Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer.
Further Reading: Outstanding Shares and The Effect on Share Price
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