EXACT Sciences Co. (EXAS) Stake Maintained by Lone Pine Capital LLC
Lone Pine Capital LLC
disclosed that they own a 5.3% stake in EXACT Sciences Co. (NASDAQ:EXAS) in a Schedule 13G disclosure that was filed with the Securities and Exchange Commission on Monday, March 5th. The investor owns 6,395,857 shares of the stock valued at $299,581,942. The reporting parties listed on the disclosure included Lone Pine Capital LLC and Stephen F Mandel, Jr. The filing is available through EDGAR at this link.
provided the following explanation of their ownership:
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Chicago Equity Partners LLC acquired a new stake in EXACT Sciences in the 3rd quarter worth about $2,312,000. Columbus Circle Investors raised its stake in EXACT Sciences by 5.5% in the 3rd quarter. Columbus Circle Investors now owns 133,398 shares of the medical research company’s stock worth $6,286,000 after purchasing an additional 6,965 shares in the last quarter. Emerald Advisers Inc. PA acquired a new stake in EXACT Sciences in the 4th quarter worth about $21,813,000. Hodges Capital Management Inc. acquired a new stake in EXACT Sciences in the 3rd quarter worth about $18,771,000. Finally, Advisors Management Group Inc. ADV acquired a new stake in EXACT Sciences in the 3rd quarter worth about $317,000. Institutional investors own 81.10% of the company’s stock.
Several analysts have weighed in on EXAS shares. Leerink Swann reiterated an “outperform” rating and issued a $67.00 price objective (up previously from $63.00) on shares of EXACT Sciences in a research note on Monday, November 13th. BidaskClub upgraded shares of EXACT Sciences from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 7th. Benchmark set a $65.00 price objective on shares of EXACT Sciences and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Zacks Investment Research lowered shares of EXACT Sciences from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. Finally, Robert W. Baird lowered shares of EXACT Sciences from an “outperform” rating to a “neutral” rating and set a $56.00 target price on the stock. in a report on Monday, November 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $52.84.
EXACT Sciences Co. (EXAS) traded up $1.42 during mid-day trading on Monday, reaching $46.84. 1,995,267 shares of the company’s stock traded hands, compared to its average volume of 2,870,000. The company has a current ratio of 7.15, a quick ratio of 6.77 and a debt-to-equity ratio of 0.01. EXACT Sciences Co. has a 52-week low of $19.91 and a 52-week high of $63.60. The company has a market cap of $5,610.00, a price-to-earnings ratio of -22.96 and a beta of 0.71.
EXACT Sciences (NASDAQ:EXAS) last released its earnings results on Thursday, February 22nd. The medical research company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.09. The firm had revenue of $87.41 million for the quarter, compared to analyst estimates of $87.42 million. EXACT Sciences had a negative net margin of 43.01% and a negative return on equity of 24.13%. The business’s quarterly revenue was up 148.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.34) EPS. equities research analysts forecast that EXACT Sciences Co. will post -0.84 EPS for the current fiscal year.
In related news, SVP D Scott Coward sold 1,665 shares of EXACT Sciences stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $52.54, for a total transaction of $87,479.10. Following the sale, the senior vice president now directly owns 37,558 shares of the company’s stock, valued at approximately $1,973,297.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Graham Peter Lidgard sold 39,884 shares of EXACT Sciences stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $43.10, for a total transaction of $1,719,000.40. The disclosure for this sale can be found here. Insiders have sold a total of 669,312 shares of company stock worth $33,558,028 over the last ninety days. 4.00% of the stock is currently owned by insiders.
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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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