LMR Partners LLP bought a new stake in shares of Exact Sciences Corporation (NASDAQ:EXAS) during the second quarter, Holdings Channel reports. The institutional investor bought 80,300 shares of the medical research company’s stock, valued at approximately $2,840,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Suntrust Banks Inc. increased its stake 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 worth $436,000 after buying an additional 277 shares during the period. Stifel Financial Corp increased its stake 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 worth $506,000 after buying an additional 310 shares during the last quarter. Prudential Financial Inc. increased its stake 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 worth $263,000 after buying an additional 320 shares during the last quarter. Baker Avenue Asset Management LP increased its stake 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 worth $833,000 after buying an additional 795 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Exact Sciences Corporation by 1.2% in the second quarter. Rhumbline Advisers now owns 130,721 shares of the medical research company’s stock worth $4,624,000 after buying an additional 1,511 shares during the last quarter. Institutional investors own 85.44% of the company’s stock.

Shares of Exact Sciences Corporation (EXAS) opened at 39.04 on Wednesday. The firm’s 50-day moving average price is $37.83 and its 200 day moving average price is $29.29. Exact Sciences Corporation has a 52 week low of $13.05 and a 52 week high of $42.18. The firm’s market capitalization is $4.65 billion.

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

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A number of research firms have commented on EXAS. Canaccord Genuity reiterated a “buy” rating and set a $42.00 target price (up from $38.00) on shares of Exact Sciences Corporation in a research report on Thursday, July 20th. Zacks Investment Research downgraded Exact Sciences Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. BTIG Research reiterated a “buy” rating and set a $45.00 target price (up from $35.00) on shares of Exact Sciences Corporation in a research report on Monday, July 17th. Roth Capital reiterated a “buy” rating and set a $40.00 target price (up from $33.00) on shares of Exact Sciences Corporation in a research report on Thursday, June 1st. Finally, ValuEngine upgraded Exact Sciences Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $40.51.

In related news, SVP D Scott Coward sold 1,987 shares of the stock in a transaction on Monday, July 3rd. The stock was 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 filing with the SEC, which is available through this hyperlink. Also, CFO Jeffrey Thomas Elliott sold 5,846 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $39.41, for a total value of $230,390.86. Following the sale, the chief financial officer now owns 19,861 shares of the company’s stock, valued at $782,722.01. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by company insiders.

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

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