Exact Sciences Corporation $EXAS Shares Sold by AlphaQuest LLC

AlphaQuest LLC lowered its stake in Exact Sciences Corporation (NASDAQ:EXAS) by 89.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 898 shares of the medical research company’s stock after selling 7,641 shares during the period. AlphaQuest LLC’s holdings in Exact Sciences were worth $49,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of EXAS. True Wealth Design LLC grew its stake in Exact Sciences by 951.8% in the second quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock worth $31,000 after purchasing an additional 533 shares in the last quarter. Country Trust Bank bought a new position in Exact Sciences during the 2nd quarter worth approximately $32,000. Bessemer Group Inc. grew its position in shares of Exact Sciences by 1,980.6% in the 2nd quarter. Bessemer Group Inc. now owns 645 shares of the medical research company’s stock worth $34,000 after acquiring an additional 614 shares in the last quarter. Quent Capital LLC acquired a new position in shares of Exact Sciences in the 3rd quarter worth approximately $48,000. Finally, OFI Invest Asset Management increased its holdings in shares of Exact Sciences by 241.2% in the 3rd quarter. OFI Invest Asset Management now owns 1,085 shares of the medical research company’s stock valued at $59,000 after acquiring an additional 767 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EXAS. Benchmark cut Exact Sciences from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. Citigroup lowered shares of Exact Sciences from a “buy” rating to a “hold” rating in a research note on Thursday, November 20th. Leerink Partners lowered Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Wells Fargo & Company restated an “equal weight” rating and issued a $105.00 target price (up from $85.00) on shares of Exact Sciences in a research report on Thursday, November 20th. Finally, Evercore set a $105.00 price objective on shares of Exact Sciences and gave the company an “in-line” rating in a research report on Monday, January 5th. Two analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $89.56.

Exact Sciences Trading Up 0.0%

Shares of NASDAQ:EXAS opened at $103.24 on Monday. The company has a current ratio of 2.72, a quick ratio of 2.44 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $19.70 billion, a PE ratio of -93.85, a P/E/G ratio of 2.44 and a beta of 1.42. Exact Sciences Corporation has a 1 year low of $38.81 and a 1 year high of $103.54. The firm has a fifty day moving average price of $102.10 and a 200 day moving average price of $75.96.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Friday, February 13th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.29). The firm had revenue of $878.38 million during the quarter, compared to the consensus estimate of $860.59 million. Exact Sciences had a negative net margin of 6.40% and a positive return on equity of 0.53%. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.06) EPS. Analysts expect that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jacob A. Orville sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $75.00, for a total transaction of $375,000.00. Following the completion of the transaction, the executive vice president directly owned 23,237 shares in the company, valued at $1,742,775. This represents a 17.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by insiders.

About Exact Sciences

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.