EXACT Sciences Co. (NASDAQ:EXAS) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 12,219,909 shares, a growth of 26.1% from the January 12th total of 9,688,211 shares. Based on an average daily volume of 4,257,669 shares, the short-interest ratio is presently 2.9 days. Approximately 10.4% of the company’s stock are short sold.

In other EXACT Sciences news, insider Kevin T. Conroy sold 110,439 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $50.49, for a total value of $5,576,065.11. Following the completion of the sale, the insider now directly owns 940,491 shares of the company’s stock, valued at approximately $47,485,390.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP D Scott Coward sold 1,665 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $52.54, for a total transaction of $87,479.10. Following the completion of the sale, the senior vice president now directly owns 37,558 shares of the company’s stock, valued at $1,973,297.32. The disclosure for this sale can be found here. Insiders sold a total of 662,694 shares of company stock valued at $35,934,015 over the last ninety days. 4.00% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. boosted its holdings in EXACT Sciences by 0.8% in the 2nd quarter. Advisor Group Inc. now owns 7,866 shares of the medical research company’s stock worth $270,000 after buying an additional 65 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in EXACT Sciences by 5.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,640 shares of the medical research company’s stock worth $341,000 after buying an additional 511 shares during the period. Amalgamated Bank boosted its holdings in EXACT Sciences by 6.0% in the 3rd quarter. Amalgamated Bank now owns 14,964 shares of the medical research company’s stock worth $705,000 after buying an additional 845 shares during the period. American International Group Inc. boosted its holdings in EXACT Sciences by 1.5% in the 4th quarter. American International Group Inc. now owns 79,238 shares of the medical research company’s stock worth $4,163,000 after buying an additional 1,207 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in EXACT Sciences by 17.2% in the 3rd quarter. Teacher Retirement System of Texas now owns 9,735 shares of the medical research company’s stock worth $459,000 after buying an additional 1,432 shares during the period. 82.32% of the stock is owned by institutional investors.

A number of research analysts have recently weighed in on EXAS shares. Zacks Investment Research raised shares of EXACT Sciences from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research report on Tuesday, January 16th. Bank of America set a $56.00 target price on shares of EXACT Sciences and gave the company a “buy” rating in a research report on Thursday, October 19th. Canaccord Genuity raised shares of EXACT Sciences to a “buy” rating and set a $60.00 target price for the company in a research report on Tuesday, October 31st. Leerink Swann reissued an “outperform” rating and set a $63.00 target price (up from $50.00) on shares of EXACT Sciences in a research report on Tuesday, October 31st. Finally, BidaskClub downgraded shares of EXACT Sciences from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. EXACT Sciences presently has an average rating of “Buy” and an average price target of $52.84.

EXACT Sciences (NASDAQ EXAS) opened at $45.90 on Monday. The company has a market cap of $5,495.61, a P/E ratio of -39.57 and a beta of 0.58. EXACT Sciences has a fifty-two week low of $18.30 and a fifty-two week high of $63.60. The company has a quick ratio of 9.98, a current ratio of 10.34 and a debt-to-equity ratio of 0.01.

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About EXACT Sciences

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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