Exact Sciences Corporation (EXAS) Shares Sold by Macquarie Group Ltd.
Macquarie Group Ltd. cut its stake in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 847,807 shares of the medical research company’s stock after selling 53,242 shares during the period. Macquarie Group Ltd. owned 0.71% of Exact Sciences Corporation worth $39,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Teachers Advisors LLC grew its stake in Exact Sciences Corporation by 4.7% in the first quarter. Teachers Advisors LLC now owns 183,485 shares of the medical research company’s stock worth $4,334,000 after purchasing an additional 8,221 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Exact Sciences Corporation during the 1st quarter valued at $8,298,000. Aperio Group LLC purchased a new stake in shares of Exact Sciences Corporation during the 2nd quarter valued at $252,000. Sit Investment Associates Inc. purchased a new position in Exact Sciences Corporation in the 2nd quarter worth $394,000. Finally, Legato Capital Management LLC purchased a new position in Exact Sciences Corporation in the 2nd quarter worth $254,000. Institutional investors and hedge funds own 86.04% of the company’s stock.
In other Exact Sciences Corporation news, SVP D Scott Coward sold 29,115 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $47.16, for a total transaction of $1,373,063.40. Following the transaction, the senior vice president now owns 64,991 shares of the company’s stock, valued at $3,064,975.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Kevin T. Conroy sold 137,805 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $59.14, for a total transaction of $8,149,787.70. Following the transaction, the chief executive officer now directly owns 967,867 shares in the company, valued at approximately $57,239,654.38. The disclosure for this sale can be found here. Insiders have sold 415,178 shares of company stock worth $20,785,358 in the last three months. Insiders own 4.00% of the company’s stock.
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Several equities research analysts have weighed in on EXAS shares. Vetr raised Exact Sciences Corporation from a “sell” rating to a “hold” rating and set a $36.55 price target on the stock in a research report on Tuesday, July 25th. Lake Street Capital raised their target price on Exact Sciences Corporation from $30.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday, July 26th. Craig Hallum restated a “buy” rating and set a $46.00 target price (up from $41.00) on shares of Exact Sciences Corporation in a research report on Wednesday, July 26th. Roth Capital raised their target price on Exact Sciences Corporation from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Finally, Bank of America Corporation reiterated a “buy” rating on shares of Exact Sciences Corporation in a report on Wednesday, July 26th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Exact Sciences Corporation has an average rating of “Buy” and an average target price of $49.98.
Shares of Exact Sciences Corporation (EXAS) opened at $59.51 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.98 and a current ratio of 10.34. Exact Sciences Corporation has a 1 year low of $13.05 and a 1 year high of $63.60.
Exact Sciences Corporation (NASDAQ:EXAS) last announced its quarterly earnings data on Monday, October 30th. The medical research company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.07. The business had revenue of $72.60 million for the quarter, compared to the consensus estimate of $65.03 million. Exact Sciences Corporation had a negative net margin of 60.71% and a negative return on equity of 30.32%. The company’s quarterly revenue was up 158.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.36) earnings per share. research analysts expect that Exact Sciences Corporation will post -1.12 EPS for the current year.
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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