Pioneer Investment Management Inc. Has $15.04 Million Stake in Exact Sciences Corporation (NASDAQ:EXAS)
Pioneer Investment Management Inc. increased its stake in Exact Sciences Corporation (NASDAQ:EXAS) by 579.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 425,242 shares of the medical research company’s stock after buying an additional 362,683 shares during the period. Pioneer Investment Management Inc.’s holdings in Exact Sciences Corporation were worth $15,041,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. IFP Advisors Inc raised its stake in Exact Sciences Corporation by 315.5% in the second quarter. IFP Advisors Inc now owns 13,850 shares of the medical research company’s stock valued at $490,000 after buying an additional 10,517 shares during the period. Sei Investments Co. bought a new stake in Exact Sciences Corporation during the second quarter valued at $1,548,000. Lebenthal Lisanti Capital Growth LLC raised its stake in Exact Sciences Corporation by 47.0% in the second quarter. Lebenthal Lisanti Capital Growth LLC now owns 50,107 shares of the medical research company’s stock valued at $1,772,000 after buying an additional 16,022 shares during the period. Spark Investment Management LLC bought a new stake in Exact Sciences Corporation during the second quarter valued at $2,076,000. Finally, Russell Investments Group Ltd. raised its stake in Exact Sciences Corporation by 46.5% in the second quarter. Russell Investments Group Ltd. now owns 175,026 shares of the medical research company’s stock valued at $6,190,000 after buying an additional 55,544 shares during the period. Hedge funds and other institutional investors own 84.86% of the company’s stock.
Shares of Exact Sciences Corporation (EXAS) opened at 37.05 on Friday. The company’s market capitalization is $4.41 billion. The stock’s 50 day moving average price is $37.54 and its 200-day moving average price is $28.68. Exact Sciences Corporation has a 52-week low of $13.05 and a 52-week high of $42.18.
Exact Sciences Corporation (NASDAQ:EXAS) last released its quarterly earnings results on Tuesday, July 25th. The medical research company reported ($0.27) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.10. The business had revenue of $57.65 million during the quarter, compared to analysts’ expectations 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, analysts expect that Exact Sciences Corporation will post ($1.18) earnings per share for the current year.
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Several equities research analysts recently weighed in on the company. Zacks Investment Research lowered Exact Sciences Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Vetr lowered Exact Sciences Corporation from a “buy” rating to a “hold” rating and set a $38.66 target price for the company. in a report on Thursday, August 3rd. Canaccord Genuity restated a “buy” rating and issued a $45.00 target price (up from $42.00) on shares of Exact Sciences Corporation in a report on Wednesday, July 26th. Bank of America Corporation restated a “buy” rating on shares of Exact Sciences Corporation in a report on Wednesday, July 26th. Finally, Roth Capital boosted their target price on Exact Sciences Corporation from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Exact Sciences Corporation currently has a consensus rating of “Buy” and a consensus price target of $40.51.
In related news, SVP D Scott Coward sold 1,987 shares of Exact Sciences Corporation stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,028,201.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey Thomas Elliott sold 5,846 shares of Exact Sciences Corporation stock in a transaction that occurred 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 directly owns 19,861 shares of the company’s stock, valued at $782,722.01. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.
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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