First Mercantile Trust Co. decreased its stake in Exact Sciences Corporation (NASDAQ:EXAS) by 13.7% during the second quarter, Holdings Channel reports. The fund owned 41,332 shares of the medical research company’s stock after selling 6,548 shares during the period. First Mercantile Trust Co.’s holdings in Exact Sciences Corporation were worth $1,461,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EXAS. Suntrust Banks Inc. increased its position in Exact Sciences Corporation by 1.5% in the first quarter. Suntrust Banks Inc. now owns 18,478 shares of the medical research company’s stock valued at $436,000 after buying an additional 277 shares during the last quarter. Stifel Financial Corp increased its position in Exact Sciences Corporation by 1.5% in the first quarter. Stifel Financial Corp now owns 21,475 shares of the medical research company’s stock valued at $506,000 after buying an additional 310 shares during the last quarter. Prudential Financial Inc. increased its position in Exact Sciences Corporation by 3.0% in the first quarter. Prudential Financial Inc. now owns 11,141 shares of the medical research company’s stock valued at $263,000 after buying an additional 320 shares during the last quarter. Baker Avenue Asset Management LP increased its position in Exact Sciences Corporation by 2.3% in the first quarter. Baker Avenue Asset Management LP now owns 35,251 shares of the medical research company’s stock valued at $833,000 after buying an additional 795 shares during the last quarter. Finally, Swiss National Bank increased its position in Exact Sciences Corporation by 1.0% in the first quarter. Swiss National Bank now owns 179,319 shares of the medical research company’s stock valued at $4,236,000 after buying an additional 1,700 shares during the last quarter. Institutional investors own 84.86% of the company’s stock.

Shares of Exact Sciences Corporation (EXAS) opened at 37.05 on Friday. The firm has a 50 day moving average price of $37.54 and a 200 day moving average price of $28.68. The stock’s market cap is $4.41 billion. Exact Sciences Corporation has a 12-month low of $13.05 and a 12-month high of $42.18.

Exact Sciences Corporation (NASDAQ:EXAS) last posted its earnings results on Tuesday, July 25th. The medical research company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.10. The company had revenue of $57.65 million for the quarter, compared to the consensus estimate of $47.73 million. Exact Sciences Corporation had a negative return on equity of 36.36% and a negative net margin of 83.08%. On average, equities analysts expect that Exact Sciences Corporation will post ($1.18) EPS for the current year.

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Several research firms have recently weighed in on EXAS. Vetr upgraded Exact Sciences Corporation from a “sell” rating to a “hold” rating and set a $36.55 price target for the company in a research note on Tuesday, July 25th. Roth Capital increased their price target on Exact Sciences Corporation from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Lake Street Capital increased their price target on Exact Sciences Corporation from $30.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, July 26th. Cowen and Company increased their price target on Exact Sciences Corporation from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, May 5th. Finally, BTIG Research reissued a “buy” rating and set a $45.00 price objective (up previously from $35.00) on shares of Exact Sciences Corporation in a report on Monday, July 17th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $40.51.

In related news, SVP D Scott Coward sold 1,987 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $35.21, for a total value of $69,962.27. Following the sale, the senior vice president now directly owns 57,603 shares in the company, valued at $2,028,201.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jeffrey Thomas Elliott sold 5,846 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $39.41, for a total value of $230,390.86. Following the completion of the sale, the chief financial officer now owns 19,861 shares in the company, valued at $782,722.01. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by insiders.

Exact Sciences Corporation Company Profile

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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Institutional Ownership by Quarter for Exact Sciences Corporation (NASDAQ:EXAS)

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