Formula Growth Ltd. reduced its position in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 34.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,500 shares of the medical research company’s stock after selling 25,000 shares during the quarter. Formula Growth Ltd.’s holdings in Exact Sciences Corporation were worth $1,680,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Suntrust Banks Inc. raised its position in Exact Sciences Corporation by 1.5% during the first quarter. Suntrust Banks Inc. now owns 18,478 shares of the medical research company’s stock worth $436,000 after acquiring an additional 277 shares in the last quarter. Stifel Financial Corp raised its position in Exact Sciences Corporation by 1.5% during the first quarter. Stifel Financial Corp now owns 21,475 shares of the medical research company’s stock worth $506,000 after acquiring an additional 310 shares in the last quarter. Prudential Financial Inc. raised its position in Exact Sciences Corporation by 3.0% during the first quarter. Prudential Financial Inc. now owns 11,141 shares of the medical research company’s stock worth $263,000 after acquiring an additional 320 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Exact Sciences Corporation by 17.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,072 shares of the medical research company’s stock worth $144,000 after acquiring an additional 600 shares in the last quarter. Finally, Lincoln National Corp raised its position in Exact Sciences Corporation by 7.8% during the second quarter. Lincoln National Corp now owns 10,104 shares of the medical research company’s stock worth $357,000 after acquiring an additional 728 shares in the last quarter. 85.22% of the stock is currently owned by hedge funds and other institutional investors.

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Several analysts have issued reports on EXAS shares. Craig Hallum upped their price target on shares of Exact Sciences Corporation from $35.00 to $41.00 in a research report on Friday, July 7th. Benchmark Co. upped their price target on shares of Exact Sciences Corporation from $34.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Canaccord Genuity upped their price target on shares of Exact Sciences Corporation from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Roth Capital reaffirmed a “buy” rating and set a $40.00 price target (up from $33.00) on shares of Exact Sciences Corporation in a research report on Thursday, June 1st. Finally, Jefferies Group LLC set a $35.00 price target on shares of Exact Sciences Corporation and gave the stock a “buy” rating in a research report on Thursday, June 1st. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $41.31.

In related news, SVP D Scott Coward sold 1,987 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $35.21, for a total transaction of $69,962.27. Following the completion of the sale, the senior vice president now directly owns 57,603 shares in the company, valued at $2,028,201.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Graham Peter Lidgard sold 45,775 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $41.49, for a total transaction of $1,899,204.75. Following the sale, the insider now owns 288,952 shares of the company’s stock, valued at $11,988,618.48. The disclosure for this sale can be found here. Insiders have sold 129,291 shares of company stock valued at $5,288,181 over the last 90 days. 4.00% of the stock is currently owned by insiders.

Exact Sciences Corporation (EXAS) opened at 45.96 on Friday. The firm’s market capitalization is $5.47 billion. Exact Sciences Corporation has a 12-month low of $13.05 and a 12-month high of $46.15. The firm has a 50 day moving average of $40.21 and a 200 day moving average of $32.94.

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

Exact Sciences Corporation 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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