Perceptive Advisors LLC raised its stake in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 305.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 410,000 shares of the medical research company’s stock after buying an additional 610,000 shares during the period. Perceptive Advisors LLC’s holdings in Exact Sciences Corporation were worth $9,684,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Tyers Asset Management LLC acquired a new stake in Exact Sciences Corporation during the fourth quarter valued at approximately $1,204,000. Arrowpoint Asset Management LLC boosted its stake in Exact Sciences Corporation by 58.4% in the fourth quarter. Arrowpoint Asset Management LLC now owns 3,096,934 shares of the medical research company’s stock valued at $41,375,000 after buying an additional 1,141,786 shares during the period. Folger Hill Asset Management LP acquired a new stake in Exact Sciences Corporation during the fourth quarter valued at approximately $336,000. Cantab Capital Partners LLP boosted its stake in Exact Sciences Corporation by 5,352.2% in the fourth quarter. Cantab Capital Partners LLP now owns 7,524 shares of the medical research company’s stock valued at $101,000 after buying an additional 7,386 shares during the period. Finally, Massmutual Trust Co. FSB ADV acquired a new stake in Exact Sciences Corporation during the fourth quarter valued at approximately $134,000. Institutional investors own 91.04% of the company’s stock.
Exact Sciences Corporation (NASDAQ EXAS) traded up 0.12% during trading on Friday, reaching $32.27. The company had a trading volume of 3,149,579 shares. The stock has a 50 day moving average of $33.25 and a 200-day moving average of $22.68. The company’s market capitalization is $3.59 billion. Exact Sciences Corporation has a 12 month low of $9.91 and a 12 month high of $38.92.
Exact Sciences Corporation (NASDAQ:EXAS) last issued its quarterly earnings data on Thursday, April 27th. The medical research company reported ($0.32) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.09. The business had revenue of $48.36 million for the quarter, compared to analyst estimates of $37.38 million. Exact Sciences Corporation had a negative return on equity of 49.24% and a negative net margin of 116.39%. The firm’s revenue for the quarter was up 225.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.49) EPS. Equities research analysts expect that Exact Sciences Corporation will post ($1.34) EPS for the current fiscal year.
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Several research firms have commented on EXAS. Roth Capital restated a “buy” rating and issued a $40.00 price target (up previously from $33.00) on shares of Exact Sciences Corporation in a report on Thursday, June 1st. ValuEngine upgraded Exact Sciences Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Stephens set a $28.00 price target on Exact Sciences Corporation and gave the company a “hold” rating in a report on Wednesday, June 7th. Vetr cut Exact Sciences Corporation from a “strong-buy” rating to a “hold” rating and set a $35.91 price target for the company. in a report on Wednesday, May 31st. Finally, Robert W. Baird restated an “outperform” rating and issued a $40.00 price target on shares of Exact Sciences Corporation in a report on Thursday, June 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Exact Sciences Corporation currently has an average rating of “Buy” and an average price target of $31.96.
In other news, SVP D Scott Coward sold 1,543 shares of the stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $23.74, for a total transaction of $36,630.82. Following the transaction, the senior vice president now owns 55,478 shares of the company’s stock, valued at approximately $1,317,047.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.60% of the company’s stock.
About Exact Sciences Corporation
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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