Exact Sciences Corporation (NASDAQ:EXAS) Short Interest Update

Exact Sciences Corporation (NASDAQ:EXAS) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 8,538,740 shares, an increase of 65.5% from the December 15th total of 5,158,438 shares. Based on an average daily trading volume, of 2,523,254 shares, the days-to-cover ratio is presently 3.4 days. Approximately 4.6% of the company’s shares are short sold. Approximately 4.6% of the company’s shares are short sold. Based on an average daily trading volume, of 2,523,254 shares, the days-to-cover ratio is presently 3.4 days.

Insider Buying and Selling

In related news, EVP Brian Baranick sold 2,858 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total transaction of $200,288.64. Following the transaction, the executive vice president directly owned 22,368 shares of the company’s stock, valued at $1,567,549.44. This represents a 11.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jacob A. Orville sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $75.00, for a total transaction of $375,000.00. Following the completion of the sale, the executive vice president owned 23,237 shares of the company’s stock, valued at $1,742,775. The trade was a 17.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Exact Sciences

Institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its holdings in shares of Exact Sciences by 105.8% in the third quarter. Ameriprise Financial Inc. now owns 4,493,085 shares of the medical research company’s stock worth $245,802,000 after buying an additional 2,310,139 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Exact Sciences by 31.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,909,501 shares of the medical research company’s stock worth $213,889,000 after purchasing an additional 939,888 shares during the last quarter. Holocene Advisors LP boosted its holdings in shares of Exact Sciences by 27.0% in the 3rd quarter. Holocene Advisors LP now owns 2,725,390 shares of the medical research company’s stock worth $149,106,000 after purchasing an additional 580,209 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Exact Sciences by 26.5% during the 3rd quarter. William Blair Investment Management LLC now owns 2,555,051 shares of the medical research company’s stock valued at $139,787,000 after buying an additional 534,881 shares in the last quarter. Finally, Champlain Investment Partners LLC grew its holdings in shares of Exact Sciences by 12.6% during the 2nd quarter. Champlain Investment Partners LLC now owns 2,529,820 shares of the medical research company’s stock valued at $134,435,000 after purchasing an additional 282,825 shares during the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Benchmark downgraded Exact Sciences from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. William Blair cut Exact Sciences from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 20th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $105.00 target price (up from $85.00) on shares of Exact Sciences in a research report on Thursday, November 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Exact Sciences in a report on Wednesday, October 8th. Finally, Evercore ISI set a $105.00 price target on shares of Exact Sciences and gave the company an “in-line” rating in a research report on Monday, January 5th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $87.06.

Exact Sciences Price Performance

Shares of NASDAQ EXAS opened at $102.43 on Friday. The company has a current ratio of 2.72, a quick ratio of 2.44 and a debt-to-equity ratio of 0.93. The stock has a fifty day simple moving average of $96.52 and a two-hundred day simple moving average of $68.59. Exact Sciences has a 1-year low of $38.81 and a 1-year high of $102.66. The firm has a market cap of $19.54 billion, a price-to-earnings ratio of -19.25, a price-to-earnings-growth ratio of 2.42 and a beta of 1.40.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Monday, November 3rd. The medical research company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.11. The firm had revenue of $850.74 million for the quarter, compared to analysts’ expectations of $810.42 million. Exact Sciences had a positive return on equity of 1.67% and a negative net margin of 32.01%.The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.21) EPS. Analysts anticipate that Exact Sciences will post -0.58 earnings per share for the current year.

Exact Sciences Company Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.